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Specialty Insurer Hallmark Financial CEO Anand Resigns; AM Best Maintains ‘A-‘ Rating January 20, 2021
AM Best announced that it would not change the “A-” financial strength ratings of the members of Dallas-based specialty insurer Hallmark Insurance Group nor the “bbb-” long-term issue credit rating of Hallmark Financial Services, after Hallmark Financial announced its chief executive officer is resigning.
An 8-K filing with the Securities and Exchange Commission revealed that Naveen Anand submitted his resignation on Jan. 11, 2021 as president and chief executive officer, as well as all other positions with subsidiaries, effective Feb. 26, 2021, citing family and personal reasons.
On Jan. 14, Hallmark Financial’s board of directors appointed Executive Chair Mark E. Schwarz to fill the roles Anand is leaving. Schwarz, who previously served as CEO from January 2003 through August 2006, and as president from November 2003 through Ma