HDI Global Insurance Company has signed a multi-year fronting partnership with P&C insurer Hallmark Financial Services, set to commence on 1 June 2024.
Under the alliance, HDI Global Insurance Company will front Hallmark’s commercial business, while HDI Global Select Insurance Company will handle the aviation business.
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This collaboration aims to bolster Hallmark’s general aviation and small to medium-sized commercial P&C insurance products with additional capacity and product development support.
HDI Global Insurance Company, the US unit of HDI Global, said the agreement is part of its efforts to strengthen its presence in the US.
Dallas-Fort Worth, Texas-based Hallmark operates on a national scale, underwriting and servicing both commercial and personal insurance in select markets.
The new partnership will not impact the team, systems and processes Hallmark’s agency partners work with.
HDI Global US CEO Jim Clark said: “The partnership fits perfectly into the company’s US 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.”
Hallmark president and CEO Chris Kenney said: “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.”
Last month, HDI broadened its services to more effectively serve the mid-market segment, focusing on companies with turnovers ranging from €20m ($21.25m) to €500m.
At the time, the insurer said it is diversifying beyond its traditional large industrial client base to meet the needs of a wider array of industries through specialised underwriting and claims processes.
