HOUSTON--(BUSINESS WIRE)--Sept. 15, 2004--HCC Insurance Holdings, Inc. (NYSE:HCC) announced today its 33rd consecutive quarterly cash dividend.

Stephen L. Way, Chairman and Chief Executive Officer, stated that the Board of Directors had declared an increase in the annual dividend to $0.34 per share on the Company's shares of $1.00 par value common stock payable $0.0850 per share quarterly. This quarter's dividend is payable to shareholders of record on October 1, 2004, and will be paid on or about October 15, 2004. It is the Company's intention to continue to pay at least a $0.0850 per share dividend in each subsequent quarter.

HCC is an international insurance holding company and a leading specialty insurance group since 1974, based in Houston, Texas with offices across the USA and in Bermuda, England and Spain. HCC has assets of more than $5 billion, shareholders' equity of over $1 billion and is rated AA (Very Strong) by Standard & Poor's and A+ (Superior) by A.M. Best Company.

For more information, visit our website at www.hcch.com.

Forward-looking statements contained in this press release are made under "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. The types of risks and uncertainties which may affect the Company are set forth in its periodic reports filed with the Securities and Exchange Commission.

    CONTACT: HCC Insurance Holdings, Inc., Houston
             L. Byron Way, 713-690-7300
             www.hcch.com

    SOURCE: HCC Insurance Holdings, Inc.