No Surprise – Hallmark Insurer Subsidiaries Downgraded
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No Surprise – Hallmark Insurer Subsidiaries Downgraded
As if on cue, last Friday (May 5th) A.M. Best downgraded the Hallmark Financial subsidiaries below the critical “A-” level to “B++” (5th highest), citing a “significant decline in Hallmark’s balance sheet strength and operating performance due to continued adverse development in the group’s retained discontinued commercial auto lines.”
