NU Online News Service, Jan. 24, 2005, 5:52 p.m. EST

A Houston insurance holding company is merging 2 subsidiaries.[@@]

The company, HCC Insurance Holdings Inc., says it will be folding its HCC Benefits Corp. subsidiary, which sells group life insurance and medical stop-loss insurance, into its life insurance subsidiary, HCC Life Insurance Company.

HCC Life will collect about $500 million in life, accident and health premiums this year, HCC Insurance estimates.

In related news, John Kane, the chief executive at HCC Benefits, will be retiring. Craig Kelbel, the head of HCC Life, will be president of the combined life and benefits unit.