BARCELONA, Spain, Dec. 13, 2012 (GLOBE NEWSWIRE) -- HCC Global Financial Products (HCC Global), a leading global provider of Financial Lines Insurance since 1999, today announced the launch of an international HCC branded Kidnap and Ransom (K&R) Insurance product in conjunction with HCC Specialty, a leading global provider of K&R insurance since 1980. HCC Global and HCC Specialty are affiliated businesses owned by HCC Insurance Holdings, Inc.
HCC Global will offer K&R insurance, with policies commencing in January 2013, to its international network of brokers in Europe, the Middle East, Africa and Asia, upholding HCC Specialty's reputation as a specialty insurer of reference for K&R in the international market.
Thibaud Hervy and Philippe Vézio, Managing Directors at HCC Global, commented, "Over the past 13 years, HCC Global has developed a unique international distribution platform for specialty insurance solutions suited to our worldwide clients. We are excited to add this new product to our catalogue and look forward to presenting it to our brokers."
"HCC Specialty has vast experience in providing solutions to large corporations and families potentially exposed to the threat of kidnapping, extortion and detention. That, together with our in-depth local knowledge of international markets, will ensure a seamless level of service and first class underwriting for our clients," added Mr. Hervy and Mr. Vézio.
Bert Van Wagenen, Senior Vice President of Underwriting at HCC Specialty said, "We have built a strong presence in the K&R insurance market over the last 30 years, and we feel that the time has come to develop an HCC branded K&R international product. In order to do so, it was vital for us to count on a global multilingual partner with extensive reach and one able to maintain the high underwriting standards on which we pride ourselves. HCC Global's international operations are well positioned to incorporate K&R in their product line-up, and our areas of collaboration are set up for success."
Headquartered in Houston, Texas, HCC Insurance Holdings, Inc. (NYSE:HCC) 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. For more information, please visit http://www.hcc.com.
Headquartered in Barcelona, Spain, HCC Global is a tied insurance agency acting on behalf of HCC International Insurance Company PLC and a leading global provider of directors and officers liability, professional indemnity liability, financial institutions bond and commercial crime, fiduciary liability, employment practices liability and transaction risk insurance products. HCC Global Financial Products is a wholly owned subsidiary of HCC Insurance Holdings, Inc. For more information, please visit www.hcc-global.com.
Headquartered in Wakefield, Massachusetts, HCC Specialty is among the industry's leading underwriters of specialty insurance products, including high-limit disability, events, promotion protection, professional liability, crisis management, public risk, primary casualty, excess casualty, DIC and niche portfolio programs. HCC Specialty, a division of HCC Insurance Holdings, Inc., is comprised of HCC Specialty Underwriters, Inc., Professional Indemnity Agency, Inc., G.B. Kenrick & Associates, Inc. dba Kenrick Corporation, InsPro Corporation and HCC Public Risk. For more information, please visit www.hccspecialty.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: HCC Global Andres Rueda Deputy Chief Underwriting Officer Email: K&R@hcc-global.com Telephone: +34 93 530 7300
Source:HCC Insurance Holdings, Inc.