Founded in January of 1982 as ASU International, we are especially noted for pioneering non-traditional disability insurance products for professional athletes, entertainers, and high profile individuals in the business world. We enjoy substantial market share for insurance covering the guaranteed contracts of top sports stars on behalf of their teams or sponsors. Specialty Group has witnessed a tremendous boom in the compensation paid to professional athletes. In 1982 the largest contracts insured were $1 million; today we are involved with contracts that exceed $250 million.
In the early 1990s ASU began to emerge into a leading provider of unique contingency insurance products for the promotion/integrated marketing, entertainment, and sports industries. Our presence in these specialty areas has grown to where we now provide event cancellation coverage to many of the world's pre-eminent sporting events including The Indianapolis 500, The Ryder Cup, various league All-Star Games, BCS NCAA Bowl Games, NCAA Basketball Final Four, and numerous live entertainment and other entertainment events.
In 1994 we planted our flag in London with the establishment of a contingency and disability underwriting team. Our presence in this hub of specialty insurance has grown to where we are now major players in event cancellation coverage to many of the world's pre-eminent international sporting events including World Cup Soccer and the Olympic Games, as well as trade shows, conferences, and entertainment productions. We are also the leading writer of disability insurance for European soccer and rugby players.
In 1999 we had the distinction of placing the first insured prize pool ever offered in a consumer promotion that exceeded $100 million. Our prize indemnity, weather insurance, bonding, and promotion liability products are used by sponsors and promoters to build their brands by offering mega contingent prize pools through sweepstakes, games, and contests. These capabilities allow clients to offer mega prizes for a fraction of the prize cost and make the maximum impact in their respective markets.
In 2001 ASU International became a wholly owned subsidiary of HCC Insurance Holdings, Inc. (See About HCC Insurance Holdings Inc.) allowing us the ability expand our offerings to the entertainment industry. On November 1, 2005 the former operating company ASU International, Inc. became HCC Specialty Underwriters, Inc.
In 2010 HCC Insurance Holdings, Inc. combined Professional Indemnity Agency, Inc. and HCC Specialty Underwriters, Inc. into a new underwriting division, HCC Specialty.
On October 27, 2015 HCC Insurance Holdings, Inc. was acquired by Tokio Marine Holdings, Inc.; and in January 2016 HCC officially became Tokio Marine HCC with the underwriting division HCC Specialty now known as Tokio Marine HCC - Specialty Group.