International insurance company HCC Insurance Holdings has formed HCC Credit Underwriters, an underwriting agency to be located in New York with a branch office in London that will provide short and medium term credit risks for US and international companies.
HCC’s new entity will also underwrite on behalf of its affiliated insurance companies: Houston Casualty Company, HCC Europe, US Specialty Insurance Company and HCC Reinsurance Company.
In announcing the new business, the specialty insurance outfit added that Mark Reynolds will join the new operation as CEO from Exporters Insurance Company where he served as executive vice president and chief underwriting officer since 1990.
Commenting on the development, Robert Thomas, CEO of HCC Credit and Surety Group, said, We are fortunate to have obtained the services of Mark Reynolds whose broad based experience in financial products and credit risks allows us to continue to expand into new specialty lines of business.