AM Best further downgrades Hallmark to C++ following $25mn-$35mn Darag award

Published: Wed 10 May 2023

Hallmark Financial has been downgraded to C++ (Marginal) by AM Best after the rating agency said it had been unaware legacy specialist Darag was awarded a $25mn-$35mn payout in relation to a loss portfolio transfer (LPT) deal with the beleaguered insurer.