-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, L25eMVGy76nDJ1/ih4P2hjh2tedhyqK06+NcjPJkDiqOprBBQebhpAbczDjKZkMN bcfr0wuJcCibrLr+rsY1Kw== 0000950129-01-503020.txt : 20010917 0000950129-01-503020.hdr.sgml : 20010917 ACCESSION NUMBER: 0000950129-01-503020 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20010913 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20010914 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HCC INSURANCE HOLDINGS INC/DE/ CENTRAL INDEX KEY: 0000888919 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 760336636 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13790 FILM NUMBER: 1737618 BUSINESS ADDRESS: STREET 1: 13403 NORTHWEST FRWY CITY: HOUSTON STATE: TX ZIP: 77040-6094 BUSINESS PHONE: 7136907300 8-K 1 h90689e8-k.txt HCC INSURANCE HOLDINGS, INC. - 09-13-01 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ---------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) SEPTEMBER 13, 2001 HCC INSURANCE HOLDINGS, INC. (EXACT NAME OR REGISTRANT SPECIFIED IN ITS CHARTER) STATE OR OTHER COMMISSION IRS EMPLOYER JURISDICTION FILE NUMBER: IDENTIFICATION OF INCORPORATION: NUMBER: DELAWARE 0-20766 76-0336636 13403 NORTHWEST FREEWAY HOUSTON, TEXAS 77040-6094 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE - (713) 690-7300 ---------- 2 ITEM 5. OTHER EVENTS 1. On September 13, 2001, HCC Insurance Holdings, Inc. ("HCC") issued an announcement related to the September 11, 2001 terrorist attack in New York, New York and its anticipated impact on HCC's third quarter 2001 results. 2. On September 14, 2001, HCC issued an announcement that its Board of Directors had approved a stock repurchase program ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (b) Exhibits. 99.1 Press Release dated September 13, 2001, related to the September 11, 2001 terrorist attack in New York, New York and its anticipated impact on HCC's third quarter 2001 results. 99.2 Press Release dated September 14, 2001 announcing the HCC Board of Directors approval of a stock repurchase program. 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: September 14, 2001 HCC INSURANCE HOLDINGS, INC. By: /s/ Christopher L. Martin -------------------------------------- Christopher L. Martin Vice President and General Counsel 4 EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION - ------- ----------- 99.1 Press Release dated September 13, 2001, related to the September 11, 2001 terrorist attack in New York, New York and its anticipated impact on HCC's third quarter 2001 results. 99.2 Press Release dated September 14, 2001 announcing the HCC Board of Directors approval of a stock repurchase program.
EX-99.1 3 h90689ex99-1.txt PRESS RELEASE - DATED SEPTEMBER 13, 2001 1 EXHIBIT 99.1 HCC COMMENTS ON WORLD TRADE CENTER TRAGEDY AND ANTICIPATED IMPACT ON ITS THIRD QUARTER RESULTS HOUSTON (September 13, 2001) . . . Stephen L. Way, Chairman and Chief Executive Officer of HCC INSURANCE HOLDINGS, INC. (NYSE symbol: HCC) in commenting on Tuesday's disaster, said "Most importantly, let me state that all of us at HCC send our thoughts and prayers to all the families affected by this unparalleled tragedy. We will be contributing $100,000 to the families of policemen and firefighters killed in the line of duty and encourage our peers to follow our lead. These men and women showed courage and resolve in performing their duties without regard to their own safety. It is comforting to know that such brave public servants are out there in time of need." Mr. Way continued, "We have had many calls from investors, analysts and the news media for our comments on the insurance aspects of this disaster and in particular, the expected effect on HCC. While we are still considering many of the potential implications of this tragedy on the insurance industry, we can provide a preliminary response as follows:" HCC has no involvement in the insurance coverage of either American or United Airlines. HCC does have a small participation 2 in the World Trade Center property insurance coverage and some of the surrounding buildings. In addition, we anticipate some claims from our Medical Stop-Loss business in the New York City area. We also have some exposure from our Accident & Health and Workers Compensation reinsurance account. Although it is still too early to provide specific estimates, we anticipate that our net loss will be confined to an amount less than our third quarter earnings. Obviously, this loss will have no impact on the Company's capital or the strength of our insurance operations and will not impair our ability to continue to expand our business in a rising market. HCC is one of the largest specialty insurance groups in the United States and consists of insurance company, underwriting agency and intermediary operations. HCC has assets of $2.9 billion and its shares are traded on the NYSE (symbol: HCC) with a market capitalization of approximately $1.5 billion. HCC is rated AA (Very Strong) by Standard & Poor's and A+ (Superior) by A. M. Best Company. 2 3 For more information, visit our website at www.hcch.com. Contact: L. Byron Way, Vice President at HCC Insurance Holdings, Inc. (713) 690-7300 Forward-looking statements contained in this press release are made under "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. The types of risks and uncertainties which may affect the Company are set forth in its periodic reports filed with the Securities and Exchange Commission. * * * * * 3 EX-99.2 4 h90689ex99-2.txt PRESS RELEASE - DATED SEPTEMBER 14, 2001 1 EXHIBIT 99.2 HCC ANNOUNCES STOCK REPURCHASE PROGRAM HOUSTON (September 14, 2001) . . . HCC INSURANCE HOLDINGS, INC. (NYSE symbol: HCC) announced today that the Company's Board of Directors has authorized a stock repurchase program pursuant to which, the Company may repurchase up to 3.0 million shares or 5.1% of its issued and outstanding Common Stock. HCC said that under the program, shares could be repurchased from time to time at various prices in the open market or through private transactions. HCC is one of the largest specialty insurance groups in the United States and consists of insurance company, underwriting agency and intermediary operations. HCC has assets of $2.9 billion and its shares are traded on the NYSE (symbol: HCC) with a market capitalization of approximately $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 Forward-looking statements contained in this press release are made under "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. The types of risks and uncertainties which may affect the Company are set forth in its periodic reports filed with the Securities and Exchange Commission. * * * * * -----END PRIVACY-ENHANCED MESSAGE-----