FORT WORTH, Texas, Dec. 15, 2008 (GLOBE NEWSWIRE) -- Hallmark Financial Services, Inc. ("Hallmark") (Nasdaq:HALL) announced today that beginning January 1, 2009, TGA Insurance Managers, Inc. ("TGA") will start issuing excess & surplus lines policies through its affiliate Hallmark Specialty Insurance Company ("HSIC") in the states of Texas and Louisiana.
"Since being acquired by Hallmark in 2006, it has been our goal to leverage TGA's position within Hallmark to bring additional value to our agents and clients," stated Don Meyer, President of TGA. "As a product developer and underwriter since 1978, TGA has been providing agents with innovative and competitively priced insurance products designed to meet the needs of our clients. Having direct access to our own highly-rated paper through HSIC, gives TGA the ability to build on this heritage of product innovation and "Customer First" approach, which has earned us an outstanding reputation with our agents."
Mark Morrison, Hallmark's President and CEO stated, "This is an important milestone in the transition plan that was put in place at the time we acquired TGA nearly three years ago. The transition of our E&S business to our own highly-rated paper, coupled with the full retention of TGA produced business beginning in 2009, allows Hallmark to fully capture the underwriting margin of business produced by TGA, our largest operating unit."
Hallmark Specialty Insurance Company is rated "A-" (Excellent) VIII by A.M. Best and domiciled in the State of Oklahoma. For a complete listing of preferred classes of business and additional information on TGA, please visit www.TGAonline.com.
ABOUT TGA:
TGA Insurance Managers, Inc. ("TGA"), a wholly owned subsidiary of Hallmark Financial Services, Inc., is a managing general underwriter offering commercial property/casualty insurance products in the excess and surplus lines, or non-admitted, market, through a select group of Wholesale Brokers.
ABOUT HALLMARK:
Hallmark Financial Services, Inc. ("Hallmark") is an insurance holding company which, through its subsidiaries, engages in the sale of property/casualty insurance products to businesses and individuals. Hallmark's business involves marketing, distributing, underwriting and servicing commercial insurance, personal insurance and general aviation insurance, as well as providing other insurance related services. The Company's business is geographically concentrated in the south central and northwest regions of the United States, except for its general aviation business which is written on a national basis. The Company is headquartered in Fort Worth, Texas and its common stock is listed on NASDAQ under the symbol "HALL."
The Hallmark Financial Services, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4395