BGB Securities Comments On HCC Insurance (HCC)

BGB Securities provided color on HCC Insurance HCC in a research report published today. BGB Securities has previously given HCC Insurance a Buy rating and $38 price target. In the report, BGB Securities states, "While holding back on becoming bullish regarding premium rate increases for 2011, HCC management reiterated a common theme among other P&C insurers, and that is the attitude regarding the direction of the P&C market is improving. This attitude is improving across multiple lines of business, and is not just centered on lines with recent CAT losses. We maintain HCC as one of our top picks and would be buyers of the company." Shares of HCC Insurance were trading at $31.65 at the time of posting, down 2.19% from Tuesday's market close.