This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Hallmark Financial Services, Inc. Announces First Quarter 2013 Results

Stocks in this article: HALL

FORT WORTH, Texas, May 8, 2013 (GLOBE NEWSWIRE) -- Hallmark Financial Services, Inc. (Nasdaq:HALL) today reported first quarter 2013 net income of $1.7 million, or $0.09 per share, compared to net income of $0.2 million, or $0.01 per share reported for first quarter 2012. Total revenues were $93.1 million for the first quarter of 2013 as compared to $83.0 million for the first quarter of 2012.

Hallmark Logo (EPR)

Mark J. Morrison, President and Chief Executive Officer, said, "The results for the quarter continue to reflect year-over-year accident year improvement in underwriting profitability due to the actions taken over the past year, including a continuation of meaningful rate increases across most of our business units and exiting unprofitable states and product lines in our Personal Segment. Across all operations the 2013 first quarter accident year net loss ratio was 69.1% as compared to 74.9% in the first quarter of 2012."

Mr. Morrison continued, "For Hallmark, the greatest opportunity to improve underwriting margins will be through continued organic growth within our current books of business. This is reflected in the year-over-year increase in revenue that continues to be driven primarily by growth from the operating units that comprise our Specialty Commercial Segment. Achieved rate increases since the start of 2012 and improving economic conditions in our core states have resulted in growth in insured exposure units on renewal policies. We expect these trends to continue throughout 2013 as we continue to push for price increases in most of our lines of business."

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,258.67 +67.30 0.39%
S&P 500 2,004.12 +1.96 0.10%
NASDAQ 4,633.08 -4.9140 -0.11%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs