Hallmark posts $22mn Q4 reserve charge on further commercial auto losses
Texan specialty insurer Hallmark Financial Group pared back its operating loss in the fourth quarter to $10mn, compared with a loss of $36.5mn in the Q4 2019, despite the need for continued reserve strengthening during the period.
Hallmark set aside $21.8mn to cover prior-year losses within the company’s specialty division, which included $19mn in commercial auto reserve development.
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