Net earnings for Hallmark Financial Services

Dallas-based Hallmark Financial Services Inc. reported operating results for the first quarter to March 31, 2003, saw its net profit increased to $ 8.6 million or $ 0.75 on a diluted basis per share, compared to a loss net $ 1.5 million or $ 0.14 on a diluted basis per share for the same period in 2002.

Total revenues were $ 18.7 million for the quarter to 31 March 2003, compared to $ 5.1 million for the corresponding period of 2002.

Without the extraordinary profits and the cumulative effect of change in accounting principles described below, net earnings for the quarter to 31 March 2003 was $ 0.4 million, compared to net income of $ 0.2 million for the same period in 2002.

Mark Hall, the first quarter of 2003 was positively influenced the result by recent acquisitions of Phoenix Indemnity Insurance Company (Phoenix), with effect from 1 January 2003 and Miller General Agency (MGA), December 1, 2002. The acquisition of Phoenix was established in accordance with Statement of Financial Accounting Standards (SFAS) No. 141, “Business Combinations.” This statement requires the company to estimate the fair value of assets acquired and liabilities of the company at the time of acquisition. In accordance with the application of SFAS 141, the Company has recognized an extraordinary gain of $ 8.2 million from the acquisition of Phoenix.

In addition, the company saw improvements in its normal operating income for first quarter 2003 compared to 2002 because of improved reporting the loss as a result of increases in premium rates in the different insurance companies.

“The assimilation of our recent acquisitions and operational improvements in our existing Texas non-standard automobile insurance are operating procedures in the plan of the company,” said Mark E. Schwarz, president and CEO.

Mark Hall, deals primarily on the sale of damage and accident insurance business products. The store sales, underwriting and premium financing of non-standard personal auto insurance in the first row in Texas, Arizona and New Mexico, commercial insurance in Texas, New Mexico, Idaho, Oregon and Washington , Rights of third parties, hotel, insurance and other related services.

Related Articles

2 insurers to reduce

The ITT Hartford Insurance Group and the Aetna Life and Casualty Company, said today that planned, is composed of different insurance markets in three countries. Aetna said it would drop private car and homeowners' insurance in Idaho and New Mexico because the companies were profitable and little hope for improvement. Aetna, stopped

Insurers have the mutual holding companies are to find value

The number of insurers, mutual surrender of their status as mutual holding companies say it is a decision to do so will not regret it. For United Heritage of Humanity, a holding company common was a win-win situation. Not only that the passage of greater flexibility for the Meridian, Idaho, established

Ketchum withdrew Yellow Cab Lab's permit

The day to operate a taxi-cab in the city are yellow for Ketchum Lab Cab owners and operators Geoffrey Schultz, at least for the next 10 years. After an audit of the band of complaints against the level Schultz, Ketchum City approved unanimously Friday to withdraw Schultz's allow the exploitation of

Closures of cars on the market with a little stop

The Chevrolet Cavalier Erik M. Leiken found that the Internet lacked control of the complaint. Although only 5 years, the car with adjustments fond of painting, apparently had a hard life. However, the odometer at 70,000 miles. And the car was a private party price of $ 2400, well below what

Buyins.Net: CS, HW, CNS, MEG, USG, GMO Have Been Removed From Naked Short List Today

BUYINS.NET, announced today that the selection of enterprises was the NASDAQ, AMEX and NYSE naked short threshold list: Credit Suisse Group (NYSE: SC), Head Waters Inc. (NYSE: HW ), Cohen & Steers Inc. (NYSE: CNS), General Media Inc (NYSE: MEG), USG Corp. (NYSE: USG), General Moly Inc. (AMEX: GMOs). For

Safeco nine auto insurance offers customers more options

Safeco, a leading provider of personal auto insurance to more than 3.2 million motorists to the national average, today announced it is introducing a new auto policy in order to improve the equipment of customers living. The new car Safeco is a simple, easy, the offer covers the needs of drivers

Congressional deadlock could slow down economic recovery

The political stalemate that led to Congress' failure in the implementation of a federal terrorism insurance in the drive barrier to the germination could stifle economic recovery and the pressure of travel for managing these risks for monitoring State authorities. The Confederation of delay in launching the problem does not

Kaiser Daily Health Policy Report

MEGA Life and Health Insurance, a subsidiary of the health of the market, expressed its willingness to pay a fine of $ 1 million per penance Maine Maine Bureau of Insurance and the Attorney General for the settlement of a complaint argued that the insurer uses the wrong method to

ID's 2008 session ends on biz tax reform, but loose ends persist

BOISE, Idaho - The Idaho Legislature 2008 postponed its meeting Wednesday after a chaotic day 87th. Legislators compromise to reform the taxation of personal action for businesses, but plans dumping separate from the balance Idaho State employees retirement benefits and medical care make it easier for the public to the right

South Carolina driver must prove the assurance of protection

The police is to give confidence, license and registration, please bitte''hat now a new ring around him in South Carolina. Drivers to prove now, they should automatically face of insurance or money or imprisonment of a flat-rate insurance into account by the law signed Dir David Beasley. Most laws that are quite insurance


Auto insurance quotes Idaho, Automobile insurance Idaho, Builders insurance Idaho, Business insurance Idaho, Capital insurance Idaho, Car insurance Idaho, Commercial insurance Idaho, Continuing education insurance Idaho, Contractors insurance Idaho, Dental insurance Idaho, Department of insurance Idaho, Disability insurance Idaho, Earthquake insurance Idaho, Group insurance Idaho, Home owner insurance Idaho, Homeowner insurance Idaho, House insurance Idaho, Insurance agency Idaho, Insurance agent Idaho, Insurance brokers Idaho, Insurance claims Idaho, Insurance commission Idaho, Insurance company Idaho, Insurance compensation Idaho, Insurance jobs Idaho, Insurance laws Idaho, Insurance quotes Idaho, Insurance regulations Idaho, Insurance school Idaho, Liability insurance Idaho, Life insurance Idaho, Long term care insurance Idaho, Medical insurance Idaho, Motorcycle insurance Idaho, Nationwide insurance Idaho, Renters insurance Idaho, Term life insurance Idaho, Title insurance Idaho, Travelers insurance Idaho, Unemployment insurance Idaho, Workers compensation insurance Idaho