Houston-based HCC Insurance Holdings Inc. announced that it has reached an agreement to acquire the remaining 66 percent interest that it doesn’t currently own in the common shares of the U.K.’s DeMontfort Group of companies.
The bulletin said the “transaction is expected to close shortly following signing of the Purchase Agreement and receipt of UK regulatory approvals.”
It described DeMontfort as “an insurance company located near Leicester, England that provides surety and credit insurance to small and medium size companies throughout the UK and Ireland. Executive management Jim Davidson and Martyn Ward head up a team of professionals at DeMontfort, which has been in business for 22 years and currently underwrites almost 20 million in annual premium. For more information visit their Web site at www.demontfort.com.
HCC plans to integrate the U.K. company’s operations into its HCC Surety Group, headed by CEO Robert F. Thomas, who commented: “We are very pleased to welcome the team at DeMontfort to the HCC Surety Group, where they will be able to continue to grow their specialty operations.”
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