HOUSTON, May 14, 2008 (PRIME NEWSWIRE) -- HCC Insurance Holdings, Inc. (NYSE:HCC) announced today that Scott W. Wise has been elected as a new member of the Company's Board of Directors. This brings the total number of Directors to 12.
Mr. Wise is Vice President for Investments and Treasurer of Rice University in Houston, a position he has served in since 1989. He previously held other financial positions at Rice and worked for a public accounting firm in Houston. Mr. Wise holds a Bachelor's degree in Economics from Rice University and a Master of Accounting degree from the University of Texas.
"Scott Wise has built an impressive track record as Chief Investment Officer of Rice University: under his leadership the university's endowment has grown from $990 million to $4.7 billion. We are very pleased that Scott has agreed to bring his expertise to our Board of Directors," HCC Chief Executive Officer Frank J. Bramanti said.
Headquartered in Houston, Texas, HCC Insurance Holdings, Inc. (HCC) is a leading international specialty insurance group with offices across the United States and in Belgium, Bermuda, Ireland, Spain and the United Kingdom. HCC has assets of more than $8.2 billion, shareholders' equity in excess of $2.5 billion and is rated AA (Very Strong) by Standard & Poor's and AA (Very Strong) by Fitch Ratings. In addition, HCC's major domestic insurance companies are rated 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.