HOUSTON, Oct. 14, 2005 (PRIMEZONE) -- HCC Insurance Holdings, Inc. (NYSE:HCC) announced today that Barry J. Cook has been promoted to the new position of Chief Executive of all of their international operations, Senior Vice President of HCC and a member of the Executive Management Group.
Mr. Cook, who is 45 years old, has been Chief Executive of Rattner Mackenzie Limited (RML) for fourteen years, including the past seven years since being acquired by HCC. RML is a Lloyd's broker marketing specialty accident & health, aviation, property and casualty insurance and reinsurance with offices in London, New York and Bermuda. Mr. Cook's successor at RML will be named by the end of this year.
Stephen L. Way, Chairman and Chief Executive Officer of HCC, said, "We are fortunate to have an executive of Mr. Cook's caliber to lead our international expansion." Mr. Way added, "More information on our plans will be made available over the next few weeks, which will include organic growth and acquisition to take advantage of developing opportunities in several lines of business."
HCC's international operations consist of insurance companies HCC Europe, Houston Casualty Company (London Branch) and DeMontfort Insurance Company; underwriting agencies HCC Diversified Products and HCC Global Financial Products; and Lloyd's broker Rattner Mackenzie. Specialty lines of business include aviation, property, casualty, marine, energy, accident & health, professional indemnity and directors' & officers' liability. Premium volume is currently concentrated in the European Union but expansion is planned for Asia, Africa, Central and South America. Large U.S. property, marine and energy accounts are also written from London.
HCC is an international insurance holding company and a leading specialty insurance group since 1974, based in Houston, Texas with offices across the USA and in Bermuda, England and Spain. HCC has assets exceeding $6.0 billion and is rated AA (Very Strong) by Standard & Poor's and A+ (Superior) by A. M. Best Company.
For more information, visit our website at www.hcch.com.
Forward-looking statements contained in this press release are made under "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. The types of risks and uncertainties which may affect the Company are set forth in its periodic reports filed with the Securities and Exchange Commission.
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