Hallmark downgraded to B++ by AM Best amid auto reserve deterioration 
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Hallmark downgraded to B++ by AM Best amid auto reserve deterioration 

Catrin Shi
May 05, 2023
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AM Best has downgraded the financial strength rating (FSR) of the members of Hallmark Financial Group to B++ (good) from A- (excellent), citing continued adverse reserve development in the group’s retained discontinued commercial auto lines.

The rating agency also downgraded the long-term issuer credit rating to “bb” (fair) from “bbb-” (good) and associated long-term issue ratings of Hallmark Financial Services Inc.

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