Daily Insurance Industry News
Daily Insurance Industry News
Wednesday 23rd of May 2018
January 3, 2008

HCC acquires MultiNational Underwriters

by Gill Montia

Story link: HCC acquires MultiNational Underwriters

HCC Insurance Holdings, the US-based insurance group, has acquired MultiNational Underwriters (MNU), which specialises in international life, accident and health insurance.

MNU has headquarters in Indiana and sells insurance in over 130 countries, mainly via the Internet.

Its customers include US citizens travelling or residing abroad, corporations with employees and their families travelling or residing abroad, foreign nationals and the employees of foreign companies outside their home countries.

The company expects to write in excess of $40 million in premiums in 2008.

HCC has also secured approval to establish a new Lloyd’s Syndicate, 4141, which will have a capacity of approximately $24 million in 2008.

The new Syndicate will initially write the MNU international accident and health insurance but will develop other lines of business in the future.

HCC Underwriting Agency Limited will manage Syndicate 4141, while continue to manage Syndicate 4040.

Frank J Bramanti, chief executive officer of HCC, expects the group’s Lloyd’s platform to enable it to “continue to expand its product offerings as well as allow HCC to avail itself of the many advantages of underwriting in the Lloyd’s market.”


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