CHICAGO--(BUSINESS WIRE)--HDI Global Insurance Company, the US subsidiary of international commercial insurer, HDI Global SE (HDI) is pleased to announce its strategic partnership with Hallmark Financial Services, Inc. (“Hallmark”) to provide capacity and product development support for its General Aviation and Small to Medium Sized Commercial property and casualty insurance products effective June 1, 2024.
This multi-year partnership continues HDI’s investment in strengthening its position in the U.S. market by offering an expanded product offering to its growing customer base. Hallmark’s commercial business will be fronted by HDI Global Insurance Company, and its aviation business by HDI Global Select Insurance Company. There will be no changes to the Hallmark team, systems or processes its agency partners currently work with.
Commenting on the partnership, Jim Clark, Chief Executive Officer of HDI Global US, stated that “the partnership fits perfectly into the company’s U.S. strategy. Aligning with Hallmark will allow us to further facilitate the needs of our business partners by making HDI a holistic one-stop shop for their insurance placements.”
“Our partnership with HDI, AM Best rated A+ (Superior), is a pivotal step in our strategy to grow and diversify both our general aviation business and commercial business. We are thrilled to partner with HDI and look forward to a long and formidable partnership,” said Chris Kenney, Hallmark’s President, and Chief Executive Officer.
To find out more about the services of HDI Global Insurance Company U.S., click here: https://www.hdi.global/en-us/about-us/locations-contacts/america/united-states/contacts/
About HDI Global SE (HDI)
As a commercial and specialty lines insurer, HDI meets the needs of SMEs, industrial companies, middle market, and corporate customers with insurance solutions that are specifically tailored to their requirements. In addition to HDI's prominent position in the German and broader European market, the company has access to its own worldwide HDI Global Network covering more than 175 countries through its own HDI foreign branch offices, subsidiaries, affiliated companies, and network partners.
In the United States, HDI operates through its three (3) wholly owned subsidiaries, HDI Global Insurance Company, a commercial property and casualty insurer headquartered in Chicago, IL and licensed in all 50 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands, HDI Global Select Insurance Company, a commercial property and casualty insurer licensed in Washington D.C., and in all US states with the exception of Rhode Island, and HDI Specialty Insurance Company, an Illinois domestic surplus lines insurer who provides both primary and excess coverage to specialized industries and is also authorized to write business nationwide.
Acting as a Partner in Transformation, HDI leads more than 5,000 International Programmes and offers its multinational customers compliant coverage worldwide. HDI is the Industrial Lines Division of the Talanx Group and has been a leading insurer for several decades. Approximately 5,000 employees in this division generated insurance revenue (gross) of approx. EUR 9.1 billion in the year 2023 (according to IFRS 17).
The rating agency Standard & Poor’s has given the Talanx Primary Group a financial strength rating of A+/stable (strong). Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX.
About Hallmark Financial
Hallmark Financial is a property and casualty insurance company with a diversified portfolio of insurance products written on a national platform. Through its insurance subsidiaries, Hallmark markets, underwrites and services commercial and personal insurance in select markets.
Disclaimer
This news release may include forward-looking statements which are based on certain assumptions, expectations and opinions of the management of Talanx AG and HDI Global SE. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s and HDI Global SE’s control, affect our business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialize, actual results, performance or achievements of Talanx AG and HDI Global SE may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG and HDI Global SE do not guarantee that the assumptions underlying such forward-looking statements are free from errors nor do Talanx AG and HDI Global SE accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG and HDI Global SE neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
