Fitch Rates HCC at A-; Work Comp Line Dropped

Fitch Ratings has assigned a 'A-' long-term issuer and 'A-' senior debt rating to HCC Insurance Holdings, Inc. (HCC). The Rating Outlook is Stable. The ratings are based on HCC's market position in a number of specialty insurance segments, as well as the company's strong capital position at its insurance subsidiaries and at the parent holding company, conservative investment profile, adequate loss reserves, and favorable historical underwriting performance. The company's operations in insurance underwriting, and fee based underwriting agency and intermediary businesses provide significant ea...