S&P Affirms Ratings of HCC; Upgrades Enterprise Risk Management

HCC Insurance Holdings Inc., headquartered in Houston, announced that Standard & Poor’s Corp. has affirmed the Financial Strength Ratings of “AA” for the following insurance company subsidiaries:

• Houston Casualty Co.
• Avemco Insurance Co.
• U.S. Specialty Insurance Co.
• HCC Specialty Insurance Co.
• HCC Life Insurance Co.
• American Contractors Indemnity Co.
• United States Surety Co.
• HCC International Insurance Co. PLC
• HCC Europe Seguros y Reaseguros, S.A.
• HCC Reinsurance Co. Limited

Additionally, the issuer credit rating for HCC Insurance Holdings Inc. was affirmed at “A”, and the debt rating on the $300 million 6.3 percent Senior Notes due 2019 of the holding company remains at “A.” The ratings outlook is “Stable.”

S&P also upgraded HCC’s Enterprise Risk Management (ERM) rating from “Adequate With Positive Trend” to “Strong.”

Source: HCC Insurance Holdings Inc.

Topics Risk Management