Schedule 1 Summary of Investments

12 Months Ended

Dec. 31, 2014

Summary of Investments, Other than Investments in Related Parties

								SCHEDULE 1

			HCC INSURANCE HOLDINGS, INC. AND SUBSIDIARIES

			SUMMARY OF INVESTMENTS
			OTHER THAN INVESTMENTS IN RELATED PARTIES
			(in thousands)

				December 31, 2014
Column A				Column B		Column C			Column D
									Amount
									shown in
Type of Investment				Cost		Value			balance sheet

	Fixed maturity securities
		Bonds — United States government and government agencies and
			authorities	$	70,279	$	70,969		$	70,969
		Bonds — states, municipalities and political subdivisions			896,130		954,708			954,708
		Bonds — special revenue			2,246,707		2,389,012			2,389,012
		Bonds — corporate			1,251,625		1,276,835			1,276,835
		Residential mortgage-backed securities			805,458		821,694			821,694
		Commercial mortgage-backed securities			593,956		611,631			611,631
		Asset-backed securities			369,103		366,827			366,827
		Bonds — foreign			119,479		118,692			118,692
			Total fixed maturity securities		6,352,737	$	6,610,368			6,610,368

	Equity securities
		Common stocks — banks, trust and insurance companies			46,538		46,183			46,183
		Common stocks — industrial and miscellaneous			244,532		250,169			250,169
			Total equity securities		291,070	$	296,352			296,352

	Short-term investments				258,186					258,186
			Total investments	$	6,901,993				$	7,164,906

- Definition

The entire disclosure for the schedule applicable to insurance companies summarizing investments held as of the most recent audited balance sheet. At a minimum, such summary is by three major categories of investments including: (1) fixed maturities primarily consisting of bonds, including convertibles and bonds with warrants, and redeemable preferred stocks, (2) equity securities primarily consisting of common stocks and nonredeemable preferred stocks, and (3) other investments including mortgage loans on real estate, real estate held for investment, real estate acquired in satisfaction of debt, policy loans, other long-term investments, and short-term investments not otherwise categorized. The information provided with respect to each item within each category includes: (A) the original cost of equity securities and, as to fixed maturity securities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts, (B) fair value as of the reporting date, and (C) the amount at which the item within each category is shown in the statement of financial position; with respect to (C), if the amount at which shown in the statement of financial position is different from the items original [amortized] cost or fair value, an explanation of the difference may be included herein.

+ References+ Details