--- title: Core Specialty Acquires Hallmark E&S description: Core Specialty has purchased Hallmark Financials' E&S business for $59.9 million, making Core Specialty one of the top 20 E&S carriers in the US. image: https://www.ethosinsurance.com/hubfs/Industry%20News%20-%20Core%20Acquires%20Hallmark.jpg --- [Skip to main content](https://www.ethosinsurance.com/blog/core-specialty-acquires-hallmark-es#maincontent) [«  View All Posts](https://www.ethosinsurance.com/blog) [ Industry News ](https://www.ethosinsurance.com/blog/topic/industry-news) # Core Specialty Acquires Hallmark E&S November 1st, 2022 | 2 min. read By [TJ Payne](https://www.ethosinsurance.com/blog/author/tj-payne) ![](https://www.ethosinsurance.com/hubfs/Industry%20News%20-%20Core%20Acquires%20Hallmark.jpg) **October 7, 2022** - Core Specialty Insurance Holdings has acquired [Heath XS, LLC](https://www.crunchbase.com/organization/heath-xs-llc) - the excess and surplus lines operations of Hallmark Financial Services. The acquisition, with an [estimated cost](https://www.reinsurancene.ws/hallmark-sells-es-operations-to-core-specialty/) of about $40 million cash and a $19.9 million consideration for net unearned premium reserves, has drawn interest from the industry, as the move has made Core Specialty one of the [top 20 E&S carriers](https://www.yahoo.com/now/core-specialty-completes-acquisition-hallmark-160700686.html?guccounter=1) with nearly $1 billion in annual premium. [Core Specialty has drawn $130.0 million under its Unsecured Revolving Credit Facility](https://www.insurancejournal.com/news/national/2022/10/10/688903.htm) to support future business to be underwritten by Hallmark E&S and to pay the $40.0 million cash purchase price. As part of the acquisition of Hallmark’s E&S operations, Core Specialty is [bringing over 176 Hallmark employees](https://www.insurancebusinessmag.com/us/news/ma/core-specialty-completes-acquisition-of-hallmark-financial-services-eands-operations-423488.aspx) located in Dallas, Atlanta, and Jersey City, including chief underwriting officer Gerald A. Dupre. Hallmark E&S [produced $436 million](https://www.yahoo.com/now/core-specialty-completes-acquisition-hallmark-160700686.html?guccounter=1) of wholesale distributed excess and surplus lines business in the 12-month period which ended June 30, 2022. The acquisition is limited in part in scope, as Core Specialty [will not acquire any insurance company entities](https://www.insurancejournal.com/news/national/2022/10/10/688903.htm), and the transaction excludes loss reserves associated with the Hallmark E&S (which will be retained by Hallmark). Like Hallmark E&S before, Core Specialty intends to [continue serving customers through a wholesale-only distribution mode](https://corespecialtyinsurance.com/divisions/healthcare-professional-liability/)l.   ---   ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­**Get the right coverage for your healthcare professional liability clients.** Book a 15-minute call with and Ethos healthcare professional liability expert to see how you can better serve your clients as soon as today.     Staying up to date on important industry matters will help you make the best possible decisions for your clients. Register for our mailing list to make sure you never miss essential industry news again.   [ TJ Payne ](https://www.ethosinsurance.com/blog/author/tj-payne) TJ’s work spans marketing, operations, technology, and process development, all centered on improving the experience of retail insurance agents. Before joining Ethos in 2022, he held marketing roles at Western Washington University and Amazon, following nearly a decade in the service and hospitality industry. That background continues to shape his approach to communications, emphasizing clarity, responsiveness, and long-term relationship building over persuasion. TJ is especially drawn to solving complex brand and operational challenges, with a focus on strengthening Ethos’ position as a premier wholesale partner specializing in Healthcare Professional Liability (HPL) insurance. Outside of work, he trains in boxing and enjoys reading and writing, bringing the same patience, discipline, and attention to craft to every aspect of his work and life. Connect: [mailto:tpayne@ethosinsurance.com](mailto:tpayne@ethosinsurance.com) Don't forget to share this post: ## Related Articles [### Industry News: TDC Completes Acquisition of ProAssurance June 26th, 2026|1 min read ](https://www.ethosinsurance.com/blog/industry-news-tdc-completes-acquisition-of-proassurance) [### Zurich to Acquire Beazley in £8 Billion ($11 Billion) Deal February 26th, 2026|3 min read ](https://www.ethosinsurance.com/blog/zurich-to-acquire-beazley-in-8-billion-11-billion-deal) [### Industry News: Sompo to Acquire Aspen in $3.5 Billion Cash Deal September 3rd, 2025|2 min read ](https://www.ethosinsurance.com/blog/industry-news-sompo-to-acquire-aspen-in-3.5-billion-cash-deal) [### Industry News: CARE Risk Retention Group Placed into Rehabilitation by Vermont DFR April 29th, 2025|1 min read ](https://www.ethosinsurance.com/blog/industry-news-care-risk-retention-group-placed-into-rehabilitation-by-vermont-dfr) [### Hudson Launches Digital Health Program April 10th, 2024|1 min read ](https://www.ethosinsurance.com/blog/hudson-launches-digital-health-program) [### American Physician Partners (APP) Goes Out of Business; Hardships Following No Suprises Act (NSA) August 22nd, 2023|1 min read ](https://www.ethosinsurance.com/blog/american-physician-partners-app-goes-out-of-business-hardships-following-no-suprises-act-nsa) [### MagMutual Completes Acquisition of MDAdvantage August 9th, 2023|1 min read ](https://www.ethosinsurance.com/blog/magmutual-completes-acquisition-of-mdadvantage) [### MagMutual Announces New Combination Cyber & Regulatory Liability Policy April 28th, 2023|1 min read ](https://www.ethosinsurance.com/blog/magmutual-announces-new-combination-cyber-regulatory-liability-policy) [### Pennsylvania Loosens Venue Laws for Medical Malpractice Suits November 3rd, 2022|3 min read ](https://www.ethosinsurance.com/blog/pennsylvania-loosens-venue-laws-for-medical-malpractice-suits) [### What Is the New MICRA and What Does It Change? 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