HCC Closes Acquisition of Perico

December 2, 2005

Houston-based HCC Insurance Holdings Inc. reported it has closed the recently announced acquisition of Perico Ltd., an insurance underwriting agency headquartered in St. Louis, Mo.

Perico has been in business since 1988 and is recognized as one of the premier underwriters in medical stop loss insurance.

Stephen L. Way, chairman and chief executive officer of HCC, stated, “Long term underwriting profits and professionalism are not always synonymous with underwriting agencies as is the case with Perico, which makes for a great acquisition. We are pleased to have Perico join the HCC team.”

HCC is an international insurance holding company and a leading specialty insurance group since 1974, based in Houston, Texas, with offices across the U.S.and in Bermuda, England and Spain.

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