HCC Insurance has announced that the company estimates a gross loss of $70m from Hurricane Rita, arising primarily from onshore and offshore energy, property, marine and other specialty lines of business.
Stephen Way, HCC chairman and chief executive, said, "Rita represents a significant energy insurance claim and once again highlights the inadequacy of current rating levels in this class to pay for such losses.
"Despite two major hurricane losses and a reinsurance commutation charge, we still expect to make a small
profit in the third quarter and anticipate achieving record earnings for the full year due to the continuing strength of our other lines of business."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
