Houston-based HCC Insurance Holdings Inc. announced that the company has limited exposure to Hurricane Charley and did not expect its net loss after reinsurance to exceed more than $10 million, or approximately $0.10 per share after tax in the third quarter of 2004.
Stephen Way, chairman and CEO, said, “We do not appear to have a large number of claims as we do not write homeowners or automobiles. Most of our exposure would likely come from damage to small, privately owned aircraft written by our insurance company subsidiary, Avemco.”
Was this article valuable?
Here are more articles you may enjoy.
Security First the Latest in Florida to Announce Home Insurance Rate Cut 
Ryan Specialty Agrees to Acquire Canadian MGU Stewart Specialty Risk Underwriting 
Progressive Now 4th Largest Global Insurer; RenRe Fastest Growing in ’24 
AIG Joins Private Equity Firm Onex to Acquire Re/Insurer Convex Group 
