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SCHEDULE 13G
Under the Securities Exchange Act of 1934
HCC Insurance Holdings, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
404132102
(CUSIP Number)
Check the following box if a fee is being paid with this statement / /. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
SEC 1745 (10-88)
Page 1 of 5
SCHEDULE 13G
CUSIP NO. 404132102
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Beck, Mack & Oliver LLC
13-0477010
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /.
(b) / /.
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
5. SOLE VOTING POWER
0
NUMBER OF
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
PERSON
WITH 8. SHARED DISPOSITIVE POWER
2,417,005
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,417,005
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /.
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.02%
12. TYPE OF REPORTING PERSON*
IA
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 2 of 5
STATEMENT ON SCHEDULE 13G
Item 1(a). Name of Issuer:
HCC Insurance Holdings, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
13403 N. W. Freeway
Houston, Texas 77040
Item 2(a). Names of Person Filing:
Beck, Mack & Oliver LLC
Item 2(b). Address of Principal Business Office or, if none, Residence:
330 Madison Avenue
New York, New York 10017
Item 2(c). Citizenship:
New York
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
404132102
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(a) / / Broker or Dealer registered under Section 15 of the Act
(b) / / Bank as defined in section 3(a)(6) of the Act
(c) / / Insurance Company as defined in section 3(a)(19) of the Act
(d) / / Investment Company registered under section 8 of the
Investment Company Act
(e) /X/ Investment Advisor registered under section 203 of the
Investment Advisers Act
(f) / / Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund; see Section 240.13d-1(b)(ii)(F) (Note:
See Item 7)
Page 3 of 5
(g) / / Parent Holding Company, in accordance with Section
240.13d-1(b)(ii) (G). (Note: See Item 7)
(h) / / Group, in accordance with Sec. 240.13d-1(b)(ii)(H).
Item 4. Ownership:
(a) Amount Beneficially Owned: 2,417,005 as of 31st December, 1998
(b) Percent of Class: 5.02%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or to direct the disposition of:
(iv) shared power to dispose or to direct the disposition of:
2,417,005
Item 5. Ownership of Five Percent or Less of a Class:
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another
Person:
See Item 6
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company:
Not Applicable
Item 8. Identification and Classification of Members of the Group:
Not Applicable
Item 9. Notice of Dissolution of Group:
Not Applicable
Item 10. Certification:
By signing below, I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in
the ordinary course of business and were not acquired for the
purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in
any transaction having such purposes or effect.
Page 4 of 5
Signature
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: 22nd January, 1999
/s/ Robert C. Beck
------------------------
Name: Robert C. Beck
Title: Senior Member
ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
The securities covered by this statement are owned by investment
advisory clients of Beck, Mack & Oliver LLC. These clients have
the right to receive or the power to direct the receipt of dividends
from, or the proceeds from the sale of, such securities. No one of
these clients owns more than 5% of such class of securities.
Page 5 of 5
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