HCC Insurance Holdings, Inc. announced on Thursday the opening of the company's new Primary Casualty and Excess Casualty Divisions led by Chris Day and Phil Joschko, respectively.
The Primary Casualty and Excess Casualty Divisions will further expand the company's specialty focus by extending its underwriting activities into general liability and excess liability insurance for construction, manufacturing, premises and public entity risks. Combined, Mr. Day and Mr. Joschko bring to HCC over 50 years of underwriting and leadership experience.
With underwriting teams headquartered in Chicago and Los Angeles, the Primary Casualty Division will focus on construction, manufacturing and premises risks. Mr. Day has held leadership positions in several Primary Casualty units and holds a B.A. in History from Denison University and an MBA from Loyola University Chicago.
The Excess Casualty Division will be based in Chicago with an underwriting presence on the West Coast and will focus on construction, manufacturing, premises and public entity risks. Mr. Joschko has held several senior roles in Excess Casualty units and holds a B.S. in Business Administration from Millikin University.
"Given our leadership position in specialty insurance, establishing a strong general casualty underwriting capability is a natural progression for HCC. We are fortunate to have recruited two highly experienced and respected underwriting executives to build this specialty business for HCC," said John N. Molbeck, Jr., HCC's Chief Executive Officer.
Headquartered in Houston, Texas, HCC Insurance Holdings, Inc. is a leading international specialty insurance group with offices across the United States and in the United Kingdom, Spain and Ireland. As of June 30, 2011, HCC had assets of $9.5 billion and shareholders' equity of $3.3 billion. HCC's major domestic and international insurance companies have financial strength ratings of "AA (Very Strong)" from Standard & Poor's Corporation, "A+ (Superior)" from A.M. Best Company, Inc., "AA (Very Strong)" from Fitch Ratings, and "A1 (Good Security)" from Moody's Investors Service, Inc.