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Teas Carrier Completes Life Deal

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HCC Insurance Holdings Inc. says it has closed on a previously announced acquisition of MIC Life Insurance Corp. from a unit of GMAC Insurance Holdings Inc.[@@]

HCC, Houston, is an insurance holding company and specialty insurer.

GMAC Insurance is an arm of General Motors Corp., Detroit.

HCC is changing the name of MIC Life to Perico Life Insurance Company. The company will have its headquarters in St. Louis and $25 million in initial capital.

“HCC will contribute additional capital as needed to execute the company’s planned growth,” HCC says.