- December 24, 2021
- Posted by: Stratford Team
- Category: Business
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By Matt Grossman
Hallmark Financial Services Inc. no longer plans to spin off its speciality-commercial insurance segment via an initial public offering, the Dallas-based insurer said Thursday.
Hallmark said steps it has taken such as a loss-portfolio transfer transaction and improvement in its underlying operating results led the company’s board to reconsider the spinoff plan.
Hallmark had announced the IPO plan for the speciality-commercial segment in April.
Write to Matt Grossman at matt.grossman@wsj.com
