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                                                                    EXHIBIT 99.1



                        HCC TO ACQUIRE ASU INTERNATIONAL


HOUSTON (July 18, 2001) . . . Stephen L. Way, Chairman and Chief Executive
Officer of HCC INSURANCE HOLDINGS, INC. (NYSE symbol: HCC), announced today that
it had signed a letter of intent to acquire all of the outstanding shares of ASU
International, Inc. in a cash transaction which is expected to close in August,
2001.

ASU is an underwriting agency focusing on specialty lines of insurance, being
especially noted for pioneering non-traditional disability products for
professional athletes, entertainers and high profile individuals in the business
world. ASU has also expanded and developed event cancellation, prize indemnity,
weather insurance and other unique contingency products for the
promotions/marketing industry. Founded in January of 1982, ASU has become
recognized as the leader in its field and enjoys a first class reputation
worldwide. ASU is expected to underwrite more than $100 million in premium
during 2001.



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Mr. Way stated that this acquisition was part of HCC's continuing philosophy to
expand its underwriting agency operations, providing HCC diversification into
new specialty lines of business.

Edward A. Dipple, ASU's founder, who will remain Chairman, stated that he and
his existing team would continue to manage ASU operations following the
acquisition. Mr. Dipple added that as part of the HCC group, ASU would be able
to provide increased stability to its producers, clients and reinsurers,
creating an even stronger foundation from which to further expand its
operations.

HCC is an international insurance holding company with assets exceeding $2.75
billion and whose shares are traded on the NYSE (symbol: HCC), with a market
capitalization of over $1.5 billion. HCC is rated AA (Very Strong) by Standard &
Poor's and A+ (Superior) by A.M. Best Company.

For more information, visit our website at WWW.HCCH.COM.

Contact:      L. Byron Way, Vice President, at
                  HCC Insurance Holdings, Inc.  (713) 690-7300



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This press release contains certain "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, and Section 21E of the
Securities Exchange Act of 1934, which are intended to be covered by the safe
harbors created by those laws. We have based these forward-looking statements on
our current expectations and projections about future events. These
forward-looking statements include information about possible or assumed future
results of our operations. All statements, other than statements of historical
facts, included in this press release that address activities, events or
developments that we expect or anticipate may occur in the future, including
such things as future capital expenditures, business strategies, competitive
strengths, goals, growth of our businesses and operations, plans and references
to future successes may be considered forward-looking statements. Also, when we
use words such as "anticipate," "believe," "estimate," "expect," "intend,"
"plan," "probably" or similar expressions, we are making forward-looking
statements. Many risks and uncertainties may impact the matters addressed in
these forward-looking statements. Many possible events or factors could affect
our future financial results and performance. These could cause our results or
performance to differ materially from those we express in our forward-looking
statements. Although we believe that the assumptions underlying our
forward-looking statements are reasonable, any of these assumptions, and
therefore also the forward-looking statements based on these assumptions, could
themselves prove to be inaccurate. In light of the significant uncertainties
inherent in the forward-looking statements included in this press release, our
inclusion of this information is not a representation by us or any other person
that our objectives and plans will be achieved. Our forward-looking statements
speak only as of the date made and we will not update these forward-looking
statements unless the securities laws require us to do so. In light of these
risks, uncertainties and assumptions, the forward-looking events discussed in
this press release may not occur.

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