Houston, TX -- Forbes magazine recently named HCC Insurance Holdings, Inc. (HCC) as a global high performer for 2009, an honor bestowed to 130 companies in 26 different industries and only five from the insurance industry. These companies are expected to "survive today, thrive tomorrow."
HCC Insurance Holdings is the parent company of Avemco Insurance Company, a leader in the general aviation insurance industry.
To qualify for this recognition, Forbes analyzed all Global 2000 companies with a minimum of $1 billion in sales. Each organization was scored on sales and profit growth, return on equity, stock market returns, debt-to-capital ratio and long-term profit growth forecasts. Governance scores from Audit Integrity as well as input from outside research consultants also helped guide the development of the list. HCC, the parent company of Avemco Insurance Company, shared this recognition with other notable global brands such as McDonald's, Google, Nestle and Nintendo.
The Forbes recognition joins Avemco’s prestigious selection this past spring by the A.M. Best Company into the Anniversary BestMark Program.
This newly launched program was created to distinguish insurance companies with at least a 25 year history of being rated “A” or higher. According to A.M. Best, these companies have continuously maintained an “excellent” ability to meet their ongoing obligations. Best’s ratings are widely accepted as the benchmark for assessing the financial strength of insurance-related organizations.
In fact, for more than 25 consecutive years Avemco Insurance Company has actually earned the more elevated rating of “A+” from A.M. Best, an international insurance rating agency.
“We’re honored to receive this recognition from such a well-respected organization,” remarked Avemco president Jim Lauerman. “It’s a tribute to our disciplined approach to doing business. For nearly half a century we’ve worked hard to provide coverage and protection pilots can count on. In fact, even now during these challenging economic times, our A.M. Best rating remains A+.”
Avemco Insurance Company, a leading pleasure and business general aviation insurer in the United States, has been insuring planes and pilots since 1961. Headquartered in Frederick, Maryland, Avemco is rated A+ (Superior) by A. M. Best Company and AA (Very Strong) by Standard & Poor’s. Avemco is a subsidiary of HCC Insurance Holdings, Inc. (NYSE: HCC) a leading international specialty insurance group with assets of more than $8.6 billion.
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