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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT
(date of earliest event reported)
SEPTEMBER 24, 1997
HCC INSURANCE HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
State or other Commission IRS Employer
jurisdiction File Number: Identification
of incorporation: Number:
Delaware 0-20766 No. 76-0336636
13403 Northwest Freeway
Houston, Texas 77040-6094
(Address of principal executive offices)
Registrant's telephone number,
including area code - (713) 690-7300
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ITEM 5. OTHER EVENTS.
On September 24, 1997, HCC Insurance Holdings, Inc. (the "Registrant")
issued a press release announcing that John N. Molbeck would be employed as
President of the Registrant, effective January, 1998. Mr. Molbeck is also
expected to become a member of the Board of Directors of the Registrant at its
next regularly scheduled Board of Directors Meeting. A copy of the press
release is attached as Exhibit "A" and is incorporated herein by this reference.
In addition, in August, 1997 the Board of Directors voted to increase the
size of the Board of Directors to 11 members and elected Frank J. Bramanti and
Peter B. Smith, Jr. as Directors.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HCC INSURANCE HOLDINGS, INC.
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(Registrant)
/s/ Frank J. Bramanti
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Frank J. Bramanti, President
Dated: September 26, 1997
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EXHIBIT "A"
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Contact: Stephen L. Way, Chairman
HCC Insurance Holdings, Inc.
713/690-7300
For Immediate Release
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HCC INSURANCE HOLDINGS, INC.
ANNOUNCES NEW MEMBER OF EXECUTIVE MANAGEMENT
HOUSTON (September 24, 1997) . . . Stephen L. Way, Chairman and Chief Executive
Officer of HCC INSURANCE HOLDINGS, INC. ("HCCH"), NYSE symbol: HCC, announced
that the Company will employ John N. Molbeck in the position of President of
HCCH. Mr. Molbeck will also become a Director and a member of the Executive
Committee. He is expected to commence employment in January, 1998.
Mr. Molbeck is 50 years old and currently a senior executive with the Aon Group
of Companies. He was previously President and Chief Executive Officer of Energy
Insurance International, Inc., a large independent retail insurance and
reinsurance brokerage company and prior to that, President and Chief Executive
Officer of J.H. Blades & Company, Inc., a managing general agency and surplus
lines insurance brokerage company. A Certified Public Accountant, his career
spans 22 years in the insurance industry.
Frank J. Bramanti, currently interim President of HCCH, will concentrate his
efforts on mergers, acquisitions and corporate financing. Mr. Bramanti will
remain a Director and member of the Executive Committee of HCCH.
Peter B. Smith, currently Executive Vice President and Chief Operating Officer
of HCCH, will also assume the duties of Chief Executive Officer of Houston
Casualty Company, the Group's largest insurance company subsidiary. Mr. Smith
is also a Director and member of the Executive Committee of HCCH.
Mr. Way added that he felt fortunate to obtain the services of Mr. Molbeck who
is an executive with enormous experience, integrity and energy and that his
addition to executive management would greatly enhance the Company's ability to
continue its growth far beyond the turn of the
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century.
Headquartered in Houston, Texas, HCC INSURANCE HOLDINGS, INC. is an
international specialty insurance group whose shares are traded on the New York
Stock Exchange (symbol: HCC) with a market capitalization of over $1.25 billion.
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