This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

A.M. Best Affirms Ratings Of HCC Insurance Holdings, Inc. And Its Subsidiaries

A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa” of the property/casualty members of Houston Casualty Group (HCC). Concurrently, A.M. Best has affirmed the ICR of “a” and debt rating of “a” of $300 million 6.3% senior unsecured notes due 2019, as well as all indicative ratings under the shelf registration of the parent, HCC Insurance Holdings, Inc. (HCC Holdings) (Dover, DE)(NYSE:HCC).

A.M. Best also affirmed the FSR of A+ (Superior) and ICR of “aa” of HCC Life Insurance Company (HCC Life) (Indianapolis, IN).

In addition, A.M. Best has affirmed the FSR of A+ (Superior) and the ICRs of “aa-” of American Contractors Indemnity Company (ACIC) (Los Angeles, CA) and United States Surety Company (USSC) (Timonium, MD). The outlook for the above ratings is stable. The above companies are subsidiaries of HCC Holdings. (See below for a detailed listing of the companies and ratings.)

The ratings of the property/casualty members of HCC take into consideration the sustained earnings reported through the second quarter of 2013 as well as this group’s long-standing presence in the specialty property/casualty marketplace, strong capitalization and the substantial financial flexibility afforded by HCC Holdings. These rating attributes are largely supported by HCC’s specialty niche business strategy, effective utilization of affiliated underwriting agencies/insurance intermediaries and the optimal utilization of reinsurance. Over the years, this strategy has culminated in HCC producing better than average underwriting and operating margins despite less than favorable economic conditions, low interest rates and ongoing market challenges. The ratings also acknowledge HCC’s lead position in the specialty admitted and non-admitted market segments, its strong near-term earnings prospects, general price firming in select commercial insurance markets and HCC’s ability to take advantage of opportunities when they arise.

The ratings of HCC Life reflect its role as a core subsidiary of the HCC Holdings organization, its leadership position in the medical stop-loss insurance marketplace and its consistent growth in both premiums and operating earnings. While most of the premium growth can be attributed to group medical stop-loss, other products lines also have grown, including international and short-term medical insurance services. Additionally, the steady growth in operating earnings is representative of HCC Life’s disciplined underwriting approach and ongoing expense management.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs