Tokio Marine HCC

Overview

Tokio Marine HCC

type	Private
founder	Stephen L. Way
location city	Houston, Texas
location country	United States
key people	Susan Rivera (Chief Executive Officer) Barry Cook (Deputy Chief Executive Officer) Tom Weist (Chief Financial Officer)
area served	Global
industry	Insurance
revenue	$2.3 billion
net income	$345 million
num employees	3,000
former name	HCC Insurance Holdings
fate	Acquired by Tokio Marine
divisions	Accident & Health, Surety & Credit, Directors & Officers and Professional Liability, U.S. Property & Casualty, International Property & Casualty
homepage	http://www.tmhcc.com

Tokio Marine HCC is an international insurance group with offices across the United States, the United Kingdom, Spain, and Ireland. The company is based in Houston, Texas, U.S.[1]

History

The company (formerly HCC Insurance Holdings, Inc.) was formed as Houston Casualty Company in 1974 by Stephen L. Way.[2] The company reports to have paid shareholder dividends for 67 consecutive quarters.[3] In 2010, it posted $2.6 billion in gross premiums, $2.3 billion in total revenue, earnings of $345 million, and a combined ratio of less than 85%.

On June 10, 2015, the company announced it was being acquired by Japan's Tokio Marine for a fee of $7.5 billion.[4]

Acquisitions

In 1996, the company acquired LDG Management Company.[17]

In 1997, the company acquired Managed Group Underwriting.[18]

In 1998, the company acquired Guarantee Insurance Resources.[19]

In 1999, the company acquired Centris Group Inc. (insurance company).[20] The same year, the company also acquired Midwest Stop Loss Underwriters.

In 2002, the company acquired Dickson Manchester Ltd. and MAG Global Financial Products.[21][22]

In 2004, the company acquired American Contractors Indemnity Company and RA&MCO Insurance companies.[23][24]

In 2005, the company acquired US Surety company, DeMontfort Group, Ltd., Perico Ltd., MIC Life Insurance, and the Ilium Insurance Group.[25][26][27]

In 2006, the company acquired Novia Underwriters, Inc., G.B. Kenrick & Associates, and the Health Products Division of Allianz Life Insurance.[28][29][30]

In 2008, the company acquired Cox Insurance Group, Arrowhead Public Risk, VMGU Insurance Agency, the Surety Company of the Pacific, and MultiNational Underwriters.[31][32][33][34]

In 2009, the company sold its reinsurance brokerage business Rattner MacKenzie Limited and transferred rights relating to brown water marine to its original owner. The company also combined two Lloyd's syndicates to try to achieve more operational efficiency. The company formed a Property Treaty underwriting team.[35]

In 2010, the company started a Technical Property division.[36]

In 2011, the company opened Primary Casualty and Excess Casualty divisions.[37]

In 2013, the company enters the North American construction property risks markets, and begins to offer builders risk treaty reinsurance out of London office.[38]

In 2015, the company acquired Producers Ag Insurance Group (ProAg), a writer of crop insurance.[39]

In 2016, the company acquired Bail USA, Inc., a wholesale bail agency[40] and On Call International.[41]

In 2017, the company acquired AIG's Medical Stop-Loss and Organ Transplant operations.[42]

In 2018, the company acquired Qdos Contractor, a provider of insurance products and services to the UK.[43]

In 2019, the company acquired NAS Insurance Services, LLC.[44]

In 2020, the company acquired GCube.[45]

Tokio Marine HCC

History

Aviation

Liability

Accident and health

International operations

Acquisitions

External links

References