HOUSTON, Nov. 10, 2016 (GLOBE NEWSWIRE) -- Tokio Marine HCC today announced that Standard & Poor’s has affirmed the “AA- (Very Strong)” financial strength ratings for its core insurance company subsidiaries and the “A-” issuer credit rating for HCC Insurance Holdings, Inc. The outlook for these ratings is Stable.
“We are very pleased that Standard & Poor’s has affirmed Tokio Marine HCC’s ratings. Tokio Marine HCC’s strong balance sheet and commitment to consistent underwriting profitability remain competitive advantages and sources of differentiation from our competitors,” said Christopher J.B. Williams, Tokio Marine HCC’s Chief Executive Officer.
The “AA-” financial strength ratings apply to the following insurance company subsidiaries:
- Houston Casualty Company
- Avemco Insurance Company
- U.S. Specialty Insurance Company
- HCC Specialty Insurance Company
- HCC Life Insurance Company
- American Contractors Indemnity Company
- United States Surety Company
- HCC International Insurance Company PLC
- HCC Reinsurance Company Limited
In addition, Standard & Poor’s has affirmed HCC’s Enterprise Risk Management (ERM) assessment of Strong.
Tokio Marine HCC is the marketing name used to describe the affiliated companies under the common ownership of HCC Insurance Holdings, Inc., a Delaware-incorporated insurance holding company. Headquartered in Houston, Texas, Tokio Marine HCC is a leading specialty insurance group with offices in the United States, the United Kingdom, Spain and Ireland. Tokio Marine HCC’s major domestic insurance companies have financial strength ratings of “AA- (Very Strong)” from Standard & Poor’s Financial Services LLC, “A++ (Superior)” from A.M. Best Company, Inc., and “AA- (Very Strong)” from Fitch Ratings; its major international insurance companies have financial strength ratings of “AA- (Very Strong)” from Standard & Poor’s Financial Services LLC. Tokio Marine HCC is a member of the Tokio Marine Group, a premier global company founded in 1879 with a market capitalization of $30 billion as of December 31, 2015. For more information about Tokio Marine HCC, please visit www.tokiomarinehcc.com.
Doug Busker, Vice President – Public Relations Tokio Marine HCC 713-996-1192
Source: Tokio Marine HCC