HOUSTON — HCC Insurance Holdings Inc., which sells specialized property and casualty insurance, on Friday said it agreed to acquire Novia Underwriters Inc., an Indianapolis insurance provider.

Financial terms were undisclosed. The deal is expected to close shortly.

Novia specializes in medical stop-loss insurance, which managed care companies can purchase to protect against high costs associated with a few high-cost beneficiaries.

Shares of HCC fell 27 cents to $29.41 during morning trading on the New York Stock Exchange.

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© 2006 The Associated Press