HCC Quarterly Profit Up 60 %
NU Online News Service, Feb. 20, 11:23 a.m. EST?HCC Insurance Holdings Inc. said its 2003 fourth-quarter net income rose 60 percent to $50.5 million?compared to $31.5 million for the same period in 2002?helped in part by a $30.1 million after-tax gain from the sale of its HCC Employee Benefits retail broking unit.[@@]
The Houston-based insurer's net premiums written for the fourth quarter were $199.38 million, up from $143.68 million one year ago, while net premiums earned also rose for the quarter, to $202.92 million from $143.12 million one year ago.
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