Hallmark Financial

Mar 16, 2022

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Dec 31, 2021

Hallmark Financial Q4 2021 Earnings Report

Hallmark Financial's financial performance declined in Q4 2021, with a net loss, but showed improvement compared to Q4 2020. The net combined ratio increased, and catastrophe losses had a significant impact. Full-year results showed improvement, with net income reported for fiscal 2021 compared to a net loss in fiscal 2020.

Key Takeaways

Hallmark Financial Services, Inc. reported a net loss of ($2.5) million for Q4 2021, an improvement from the ($7.8) million loss in Q4 2020. The net combined ratio was 106.1% compared to 117.7% in the same period last year. Net catastrophe losses were $5.9 million, significantly higher than the $0.8 million in the prior year. For fiscal year 2021, the company reported a net income of $9.0 million, a substantial turnaround from the net loss of ($94.4) million in fiscal year 2020.

Hallmark Financial reported a pre-tax loss of ($3.1) million for Q4 2021, compared to a pre-tax loss of ($13.3) million in Q4 2020.

Net loss for Q4 2021 was ($2.5) million, or ($0.14) per diluted share, compared to a net loss of ($7.8) million, or ($0.43) per diluted share, for Q4 2020.

The net combined ratio for Q4 2021 was 106.1%, compared to 117.7% for the same period in the prior year.

Net catastrophe losses were $5.9 million in Q4 2021, or 6.8 points of the net combined ratio, compared to $0.8 million, or 0.8 points, in Q4 2020.