Hallmark Financial Services has completed its the acquisition of TBIC Holding, including its wholly owned subsidiaries Texas Builders Insurance and TBIC Risk Management, (collectively referred to as TBIC).
TBIC is an Austin, Texas based insurance company writing small and middle market workers compensation business within the State of Texas.
Hallmark funded the $1.6m required to close the acquisition from available working capital.
Hallmark Financial president and CEO Mark Morrison said that the addition of TBIC is as an extension of Hallmark standard commercial segment product line offering.
Hallmark Financial Services is an insurance holding company which, through its subsidiaries, engages in the sale of property/casualty insurance products to businesses and individuals.
Hallmark’s business involves marketing, distributing, underwriting and servicing commercial insurance, personal insurance and general aviation insurance, as well as providing other insurance related services.