S&P assigns new rating for HCC subsidiaries
Standard & Poor's (S&P) has assigned an 'AA' financial strength ratings to American Contractors Indemnity (ACIC) and HCC Reinsurance (HCC Re), both subsidiaries of property/casualty specialty writer HCC Insurance Holdings (HCC). The outlook is stable.
The rating agency said that the ratings on ACIC and HCC RE are based on unconditional guarantees provided to the companies by HCC's largest insurance subsidiary, Houston Casualty Co. (AA/Stable/--).S
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