HOUSTON, Sept. 17, 2008 (GLOBE NEWSWIRE) -- HCC Insurance Holdings, Inc. (NYSE:HCC) today announced its 50th consecutive quarterly cash dividend.
HCC's Board of Directors has declared an increase in its regular cash dividend of 14 percent to $0.125 per share on the Company's shares of $1.00 par value common stock. The dividend is payable to shareholders of record on October 1, 2008 and will be paid on or about October 14, 2008.
"This is the 12th consecutive year we have raised the cash dividend to our shareholders. The Board's decision to increase our cash dividend demonstrates HCC's continuing strong performance, delivering increased value to our shareholders," 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 $8.3 billion, shareholders' equity of $2.6 billion and is rated AA (Very Strong) by Standard & Poor's and AA (Very Strong) by Fitch Ratings. In addition, HCC's domestic property and casualty 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.