Wunderlich Comments On HCC Insurance Holdings Succession Plan

According to Wunderlich Securities, HCC Insurance Holdings HCC announced developments in the company's succession plan on April 27. Wunderlich Securities said that on or before May 31, 2011, Chairman Christopher Williams (55) will become president replacing Chief Executive Officer and President John Molbeck (64). “Mr. Molbeck will remain CEO until May 31, 2013, when he is expected to be succeeded by Mr. Williams. Mr. Williams has an impressive pedigree as an underwriter and broker. In addition, Mr. Williams has served as chairman of the board of HCC since 2007. In our opinion, the developments are part of a normal succession plan. We anticipate the announced changes will be discussed on HCC's conference call reviewing 1Q11 results on May 3, 2011.” HCC Insurance Holdings closed yesterday at $32.49.