Houston-based HCC Insurance Holdings Inc. announced today that HCC Specialty Underwriters Inc. President and Chief Executive Officer William F. Hubbard will be promoted to the position of chairman.

Matthew C. Overlan, HCCSU's current chief financial and operating officer, will succeed Mr. Hubbard as CEO, and Marc D. Idelson, currently senior vice president, will be promoted to president and chief underwriting officer, the company said.

All three executives were previously with HCCSU's predecessor company, American Specialty Underwriters. HCCSU specializes in the sports, film, entertainment and promotion marketing industries.

HCC CEO Frank J. Bramanti said the promotions will "support HCCSU's strategy to optimally position itself to capitalize on growth opportunities by adding externally to existing lines of business and by expanding into complementary areas."

Mr. Hubbard has been with Wakefield, Mass.-based HCCSU since 1989. He served in several positions during that time, including director of the Contingency Division, senior vice president of the Enterprise Division, and president and CEO.

Mr. Overlan joined HCC Specialty Underwriters as controller in 1998, became CFO in 2001 and assumed the additional responsibilities of COO in 2004.

Mr. Idelson began his insurance career in 1989, moving to HCCSU the next year. He was named vice president for underwriting personal accident and contingency products in 1998 and promoted to senior vice president of North American Underwriting in 1999.

HCCSU provides creative insurance products for professional athletes, entertainers and other high-profile individuals, as well as for the film, entertainment, sports and promotion marketing industries.

A subsidiary of HCC Insurance Holdings Inc., HCCSU also provides risk management services to agencies and firms that design and execute sweepstakes, games and contests.

Headquartered in Houston, Texas, HCC Insurance Holdings Inc. (HCC) is a leading international specialty insurance group with offices across the United States and in Belgium, Bermuda, Ireland, Spain and the United Kingdom. HCC has assets of nearly $8.1 billion and shareholders' equity in excess of $2.4 billion.

Special Reports /

Hubbard Named Chair At HCC Specialty; Overlan Is CEO

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