Moody’s might lift HCC Insurance

Moody's Investors Service said it placed the Baa1 senior debt rating of HCC Insurance Holdings, Inc. on review for possible upgrade following the announcement that it agreed to be acquired by Tokio Marine Holdings, Inc. (unrated; Tokio Marine & Nichido Fire Insurance Co., Ltd., IFS rating at Aa3/negative outlook) for $7.5 billion.

"Following the acquisition by Tokio Marine, we expect HCC's business strategy and risk profile to remain essentially unchanged and the current management team and other key employees to remain in place," Moody's analyst Jasper Cooper said in a news release.

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