HCC Insurance Holdings has formed HCC Surety Group (HCCS) as a platform for expansion of its surety business in the US.
HCCS will underwrite on behalf of its subsidiaries American Contractors Indemnity Company, and US Speciality Insurance Company.
Robert F Thomas has been appointed chief executive officer of the new subsidiary.
HCCS will specialise in writing sureties for small contractors, court appointed executors and trustees, license and permit, bail bonds, and other small surety business on a national basis, said HCC.
HCC chairman and chief executive officer Stephen L. Way said: “We plan on expanding our surety business both organically and through acquisition, under the HCC Surety banner.”
He added: “ACIC has been successfully integrated into HCC and its management team ably lead by Bob Thomas, will run operations at HCC Surety."
