Hallmark shares drop after Core Specialty E&S deal as AM Best places FSR under review

Published: Tue 6 Dec 2022

Hallmark Financial Services’ stock fell 18.1 percent on Friday as investors responded to the sale of its E&S business to Core Specialty in a $59.9mn deal, while AM Best has placed the Dallas, Texas-based carrier’s A- financial strength rating under review with negative implications.