HCC Insurance Holdings, subject to regulatory approval, has announced the formation of HCC Credit Underwriters, an underwriting agency located in New York City with a branch office in London.
HCCCU will specialise in short and medium-term credit risks for US and international companies and will underwrite on behalf of its affiliated insurance companies: Houston Casualty Company, HCC Europe, US Specialty Insurance Company and HCC Reinsurance Company.
Mark Reynolds, chief executive officer, is joining the new operation from Exporters Insurance Company where he served as executive vice-president and chief underwriting Officer since 1990.
Reynolds has over 25 years of experience in financial insurance and was once underwriting manager of political risk for Professional Indemnity Agency, now a wholly-owned subsidiary of HCC, and vice-president and manager of AIG Export Credit Insurance Department.
HCC is an international insurance holding company and a leading specialty insurance group since 1974, based in Houston, Texas with offices across the US and in Bermuda, the UK and Spain.