HCC Allowance Holdings Inc. said bygone that it had active a letter of absorbed to access the Avemco Corporation, which specializes in aerodynamics insurance, in a banal bandy admired at $230 million. Under the agreement, the Houston-based HCC said it would action one allotment of its banal for anniversary allotment of Avemco in a tax-free pooling of interests. Avemco's banal rose $5.125, or added than 26 percent, yesterday, to $24.50, while HCC fell $1.125, to $27.50. Avemco, based in Frederick, Md., underwrites specialty insurance, mainly for baby to medium-size aircraft operators.
Avemco Aviation Insurance
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