HOUSTON, Oct. 26, 2007 (PRIME NEWSWIRE) -- HCC Insurance Holdings, Inc. (NYSE:HCC) announced today that James A. Lauerman has been promoted to President of HCC's Avemco Insurance Company subsidiary.
Lauerman, who was Executive Vice President-Insurance Operations and Chief Underwriting Officer of Avemco before being promoted to President, has been in the insurance industry since 1991, serving in several positions including Vice President of Underwriting at Special Insurance Underwriters, a company acquired by HCC in 1997. Lauerman has a Bachelor of Arts degree from Milikin University.
"Jim Lauerman's long experience and familiarity with aviation and his passion for Avemco make him the right person to assume the helm. We are very pleased to welcome him as President of one of the nation's leading aviation insurers," HCC Chief Executive Officer Frank J. Bramanti said.
Domiciled in Maryland with principal offices in Frederick, Avemco Insurance Company is a property and casualty insurance company operating on an admitted basis throughout the United States. Avemco is a market leader in aviation insurance written on a direct response basis.
Headquartered in Houston, Texas, HCC Insurance Holdings, Inc. (HCC) is a leading international specialty insurance group with offices across the United States and in Bermuda, Spain, Ireland and the United Kingdom. HCC has assets of more than $7.9 billion, shareholders' equity of $2.2 billion and is rated AA (Very Strong) by Standard & Poor's, AA (Very Strong) by Fitch Ratings and A+ (Superior) by A.M. Best Company.
For more information, visit our website at www.hcc.com.
Forward-looking statements contained in this press release are made under "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. The types of risks and uncertainties which may affect the Company are set forth in its periodic reports filed with the Securities and Exchange Commission.