HOUSTON, Aug. 27, 2010 (GLOBE NEWSWIRE) -- HCC Insurance Holdings, Inc. (NYSE:HCC) announced today that HCC Life Insurance Company, which specializes in writing medical stop loss and group life insurance, has opened a new office in Scottsdale, Arizona.
The new office will provide underwriting, marketing, and administrative support to producers in Arizona and California. As an addition to the offices located in Dallas, TX, Kennesaw, GA, Wakefield, MA, and Minnetonka, MN, this new location fits into the Company's business model of placing offices in strategic locations to provide a geographic presence for our producers and their client base.
The Scottsdale office will be led by Byrd Preston III, Regional Executive Vice President. Byrd joins HCC Life Insurance Company with 16 years of experience in the self funded marketplace, having most recently served as a Vice President of Underwriting for a managing general underwriter. Mr. Preston has a business degree from Liberty University and has been a resident of the Phoenix area for 19 years.
Commenting on the new office, Craig J. Kelbel, President and CEO of HCC Life Insurance Company said, "We look forward to developing this office and growing our business presence in Arizona and California. With healthcare reform and potential growth in self funded coverage, this is an opportune time for HCC Life to open this office."
Headquartered in Houston, Texas, HCC Insurance Holdings, Inc. is a leading international specialty insurance group with offices across the United States and in the United Kingdom, Spain and Ireland. As of June 30, 2010, HCC had assets of $9.0 billion and shareholders' equity of $3.2 billion. HCC's major domestic and international insurance companies have a financial strength rating of "AA (Very Strong)" from Standard & Poor's Corporation. HCC's major domestic insurance companies have a financial strength rating of "AA (Very Strong)" from Fitch Ratings, "A1 (Good Security)" from Moody's Investors Service, Inc., and "A+ (Superior)" by A.M. Best Company, Inc.
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.