Dallas-based Redpoint Insurance Group LLC is purchasing the workers’ compensation business of American Hallmark Insurance Co. of Texas, located in Austin.
The acquisition is expected to close effective July 1, 2015. Terms of the transaction were not disclosed.
The Hallmark workers’ compensation business will begin operating under the name Redpoint Workers’ Compensation. It specializes in workers’ comp coverage for a wide range of employers, from artisan contractors to main street businesses throughout Texas.
The acquired workers’ compensation business was launched in 1987 as Texas Builders Insurance Co. It was sold to American Hallmark in 2011.
The existing Hallmark workers’ compensation employees are moving to Redpoint. Benjamin A. Siddons will continue to serve as president. Christopher A. McClellan, CEO of Redpoint Insurance Group, will serve as CEO of Redpoint Workers’ Compensation.
Source: Redpoint Insurance Group
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