Hallmark Financial Services Takes Strategic Action to Strengthen Holding Company Capital Structure and Support Long-Term Success
Holding Company Enters into Restructuring Support Agreement with Key Stakeholders and Initiates Prearranged Financial Restructuring
Company Expects to Emerge with Significantly Reduced Leverage, Enhanced Financial Flexibility, and Supportive Long-Term Ownership
Insurance Company Subsidiaries Remain Well-Capitalized and Are Not Parties to Transaction; Operations Continue in Ordinary Course, With No Impact for Employees, Agents, Policyholders, or Other Stakeholders
Hallmark Financial Services, Inc. (“Hallmark” or the “Company”) today announced it has initiated a strategic transaction to strengthen its financial position, support long-term growth, and provide stability for its policyholders, agents, business partners, and other stakeholders.
