Fitch Has Given New IFS Ratings of “AA” to HCC

By James Tam on October 18th, 2007

Fitch has given new IFS ratings of “AA” to HCC subsidiaries Perico Life Insurance Company, HCC Insurance Company, American Contractors Indemnity Company and United States Surety Company. Chief Executive Officer Frank J. Bramanti said “We believe Fitch’s decision to upgrade its ratings for HCC is based in part on the financial strength of HCC, its conservative operating approach and the depth and strength of its entire management team.” Fitch also improved its Insurer Financial Strength (IFS) rating to “AA” from “AA-”. The nature of risks and qualms which may have an effect on the Company are set forth in its periodic reports filed with the Securities and Exchange Commission.

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