AM Best downgrades Hallmark to C++ after Darag arbitration outcome
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AM Best downgrades Hallmark to C++ after Darag arbitration outcome

Kyoung-son Song
May 09, 2023
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AM Best has again downgraded the financial strength rating (FSR) of the members of the Hallmark Financial Group, to C++ (marginal) from B++ (good), following the disclosure of an arbitration proceeding with Darag that will incur a loss of $25mn-$35mn.

The ratings agency also downgraded the group’s long-term issuer credit rating to “b+” (marginal) from “bbb” (good).

In addition, AM Best downgraded the long-term issuer crediting rating to “ccc-” (weak) from “bb” (fair) and associated long-term issue ratings of Hallmark...

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Kyoung-son Song
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