EX-21 2 exh21.txt LIST OF SUBSIDIARIES Exhibit 21 Subsidiaries of Hallmark Financial Services, Inc. ------------------------------------------------- Name of Subsidiary Jurisdiction of Incorporation ------------------ ----------------------------- American Hallmark Insurance Company of Texas* Texas Hallmark Finance Corporation* Texas ACO Holdings, Inc.* Texas Hallmark Claims Service, Inc. Texas (d/b/a Phoenix General Agency) American Hallmark General Agency, Inc. Texas (d/b/a Phoenix General Agency) Hallmark Underwriters, Inc.* Texas American Hallmark Agencies, Inc.* Texas Allrisk Insurance Agency, Inc.* Texas Phoenix Indemnity Insurance Company* Arizona Hallmark General Agency, Inc.* Texas Effective Claims Management, Inc.* Texas Texas General Agency, Inc.* Texas Gulf States Insurance Company* Oklahoma Pan American Acceptance Corporation* Texas TGA Special Risk, Inc.* Texas Aerospace Holdings, LLC* Texas Aerospace Flight, Inc.* Texas Aerospace Insurance Managers, Inc.* Texas Aerospace Claims Management Group, Inc.* Texas Aerospace Special Risk, Inc.* Texas Mannequin PCC Ltd. Cell A-22* Guernsey * Conducts business under their corporate name.