hcc insurance holdings inc (HCC) Key Developments
HCC Insurance Holdings Inc. Appoint Susan Rivera as an Independent Member of Board of Directors
May 21 14
HCC Insurance Holdings Inc. announced that Susan Rivera, has been elected as an independent member of the Company's Board of Directors. Ms. Rivera will serve on the Enterprise Risk Oversight Committee. Since 2009, she has served as President and Chief Executive Officer of V3 Insurance Partners, LLC.
HCC Insurance Holdings Inc. Declares a Regular Cash Dividend, Payable on or about July 15, 2014
May 21 14
HCC Insurance Holdings Inc.s Board of Directors has declared a regular cash dividend of $0.225 per share on the company's shares of $1.00 par value common stock. The dividend is payable to stockholders of record on July 1, 2014 and will be paid on or about July 15, 2014.
HCC Insurance Holdings, Inc. Enters into Amendment to its Loan Agreement
May 1 14
HCC Insurance Holdings Inc. entered into an amendment to its Loan Agreement among the company, Wells Fargo Bank, National Association, as Administrative Agent, Barclays Bank PLC and Bank of America, N.A., as Co-Syndication Agents, JPMorgan Chase Bank, N.A. and The Royal Bank of Scotland PLC, as Co-Documentation Agents, and the other lenders party thereto. The Amendment, among other things, (i) extends the maturity of the Credit Agreement to April 30, 2019, (ii) increases the size of the revolving facility under the Credit Agreement to $825 million, (iii) creates a letter or credit facility under the Credit Agreement with a sublimit of $400 million, and (iv) increases the size of the optional increase in the Credit Agreement to $175 million.
HCC Insurance Holdings Inc. Reports Earnings Results for the First Quarter Ended March 31, 2014
Apr 29 14
HCC Insurance Holdings Inc. reported earnings results for the first quarter ended March 31, 2014. Net earnings were $107.9 million, or $1.07 per diluted share, in the first quarter of 2014, compared to $105.9 million, or $1.05 per diluted share, in the same quarter of 2013. Gross written premium increased 4% to $746.7 million in the first quarter of 2014, compared to $720.2 million in the same quarter of 2013. Net written premium increased 2% to $590.2 million versus $579.2 million in the respective quarters. Net earned premium was $562.6 million in the first quarter of 2014, compared to $561.2 million in the same quarter of 2013. The company generated cash flow from operations of $95.5 million in the first quarter of 2014, compared to $2.1 million in the same quarter of 2013. First quarter operating ROE was 10.8%. Net investment income in the quarter was $57 million, an increase of 2% from the prior year. The increase resulted from growth in invested assets and good performance from equity portfolio.
HCC Insurance Holdings Inc., Annual General Meeting, May 21, 2014
Apr 10 14
HCC Insurance Holdings Inc., Annual General Meeting, May 21, 2014., at 09:00 Central Daylight. Location: 13403 Northwest Freeway. Agenda: To elect the eleven individuals named in this Proxy Statement to serve as members of Board of Directors for a one-year term, each to serve until the 2015 Annual Meeting of Stockholders and until his or her successor is duly elected and qualified; to conduct an advisory vote to approve the compensation of Named Executive Officers; to ratify the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for the year ending December 31, 2014; and to transact such other business as may properly come before the meeting and any postponement or adjournment thereof.