According to a Wall Street Journal article, New York Department of Financial Services Superintendent Benjamin Lawsky has asked 134 insurers in the state to provide information about IUL illustrations....
HOUSTON, Dec. 11, 2012 (GLOBE NEWSWIRE) -- HCC Insurance Holdings, Inc. (NYSE:HCC) today announced the appointment of Carol T. Nevin as President of United States Surety Company (USSC), a member of the HCC Surety Group, effective January 1, 2013. She will report to Adam S. Pessin, HCC Surety Group's Chief Executive Officer.
"Carol's appointment is the result of her stellar performance spanning over sixteen years with the company. Carol is a proven and knowledgeable leader in the contract surety field and the surety industry at-large," stated Richard E. Klein, Chairman of HCC Surety Group.
Ms. Nevin has over 25 years of surety industry experience and has served in various underwriting and management capacities during her career. Ms. Nevin holds a B.S. in Finance from Towson University.
Mr. Pessin commented, "Carol's leadership, along with that of others in our executive management team, has allowed HCC Surety Group to become a top tier surety underwriter. Carol is integral to our efforts to sensibly expand the geographical footprint of our diverse surety product offerings."
Headquartered in Houston, Texas, HCC Insurance Holdings, Inc. is a leading international specialty insurance group with offices in the United States, the United Kingdom, Spain and Ireland. As of September 30, 2012, HCC had assets of $10.1 billion and shareholders' equity of $3.5 billion. HCC's major domestic and international insurance companies have financial strength ratings of "AA (Very Strong)" from Standard & Poor's Corporation, "A+ (Superior)" from A.M. Best Company, Inc., "AA (Very Strong)" from Fitch Ratings, and "A1 (Good Security)" from Moody's Investors Service, Inc.
HCC Surety Group is the marketing name for the surety-related insurance companies of HCC Insurance Holdings, Inc. HCC Surety Group, with offices throughout the United States, is the sixth largest writer of surety business in the United States. Its members, American Contractors Indemnity Company, U.S. Specialty Insurance Company and United States Surety Company, have financial strength ratings of "AA (Very Strong)" from Standard & Poor's Corporation, "A+ (Superior)" from A.M. Best Company, Inc., and "AA (Very Strong)" from Fitch Ratings.
For more information about HCC, please visit http://www.hcc.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.
CONTACT: Doug Busker, Director of Investor Relations
HCC Insurance Holdings, Inc.
Telephone: (713) 996-1192
Source: HCC Insurance Holdings, Inc.