Stephen L. Way, Chairman and CEO of Houston’s HCC Insurance Holdings, announced that the Company had closed their recently announced acquisition of London-based Lloyd’s broker Dickson Manchester & Company Ltd. (See IJ Website-Southeast-Dec. 17)
“DM is a market leader in the underwriting and placement of UK professional indemnity insurance, with an annual gross written premium of approximately 40 million pounds Sterling [$64 million],” said HCC. “Effective January 1, 2003, DM will be issuing some of their business through insurance companies which are part of the HCC Group.”
Way indicated that “DM’s business will be part of ‘Global Financial Products’, a new reporting segment for HCC in 2003. This is an exciting sector for us now and we anticipate substantial growth in both our US and International operations, with gross written premium next year of more than $300 million.”
Topics Mergers & Acquisitions
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