for additional discussion of our accounting policies , see note 1 to the audited consolidated financial statements included in this report . impairment of investments . we complete a detailed analysis each quarter to assess whether any decline in the fair value of any investment below cost is deemed other-than-temporary . all securities with an unrealized loss are reviewed . we recognize an impairment loss when an investment 's value declines below cost , adjusted for accretion , amortization and previous other-than-temporary impairments and it is determined that the decline is other-than-temporary . debt investments : we assess whether we intend to sell , or it is more likely than not that we will be required to sell , a fixed maturity investment before recovery of its amortized cost basis less any current period credit losses . for fixed maturity investments that are considered other-than-temporarily impaired and that we do not intend to sell and will not be required to sell , we separate the amount of the impairment into the amount that is credit related ( credit loss component ) and the amount due to all other factors . the credit loss component is recognized in earnings and is the difference between the investment 's amortized cost basis and the present value of its expected future cash flows . the remaining difference between the investment 's fair value and the present value of future expected cash flows is recognized in other comprehensive income . equity investments : some of the factors considered in evaluating whether a decline in fair value for an equity investment is other-than-temporary include : ( 1 ) our ability and intent to retain the investment for a period of time sufficient to allow for an anticipated recovery in value ; ( 2 ) the recoverability of cost ; ( 3 ) the length of time and extent to which the fair value has been less than cost ; and ( 4 ) the financial condition and near-term and long-term prospects for the issuer , including the relevant industry conditions and trends , and implications of rating agency actions and offering prices . when it is determined that an equity investment is other-than-temporarily impaired , the security is written down to fair value , and the amount of the impairment is included in earnings as a realized investment loss . the fair value then becomes the new cost basis of the investment , and any subsequent recoveries in fair value are recognized at disposition . we recognize a realized loss when impairment is deemed to be other-than-temporary even if a decision to sell an equity investment has not been made . when we decide to sell a temporarily impaired available-for-sale equity investment and we do not expect the fair value of the equity investment to fully recover prior to the expected time of sale , the investment is deemed to be other-than-temporarily impaired in the period in which the decision to sell is made . fair values of financial instruments . accounting standards codification ( “ asc ” ) 820 defines fair value , establishes a consistent framework for measuring fair value and expands disclosure requirements about fair value measurements . asc 820 , among other things , requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value . in addition , asc 820 precludes the use of block discounts when measuring the fair value of instruments traded in an active market , which were previously applied to large holdings of publicly traded equity securities . 41 we determine the fair value of our financial instruments based on the fair value hierarchy established in asc 820. in accordance with asc 820 , we utilize the following fair value hierarchy : · level 1 : quoted prices in active markets for identical assets ; · level 2 : inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets , inputs of identical assets for less active markets , and inputs that are observable for the asset or liability , either directly or indirectly , for substantially the full term of the instrument ; and · level 3 : inputs to the valuation methodology that are unobservable for the asset or liability . this hierarchy requires the use of observable market data when available . under asc 820 , we determine fair value based on the price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date . it is our policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements , in accordance with the fair value hierarchy described above . fair value measurements for assets and liabilities where there exists limited or no observable market data are calculated based upon our pricing policy , the economic and competitive environment , the characteristics of the asset or liability and other factors as appropriate . these estimated fair values may not be realized upon actual sale or immediate settlement of the asset or liability . where quoted prices are available on active exchanges for identical instruments , investment securities are classified within level 1 of the valuation hierarchy . level 1 investment securities include common stock and preferred stock . level 2 investment securities include corporate bonds , collateralized corporate bank loans , municipal bonds , u.s. treasury securities , other obligations of the u.s. government and mortgage-backed securities for which quoted prices are not available on active exchanges for identical instruments . we use a third party pricing service to determine fair values for each level 2 investment security in all asset classes . story_separator_special_tag gross premiums written for the standard commercial segment were $ 84.7 million for the year ended december 31 , 2014 , which was $ 2.4 million , or approximately 3 % , less than the $ 87.1 million reported for the same period in 2013. net premiums written were $ 76.9 million for the year ended december 31 , 2014 as compared to $ 79.5 million reported for the same period in 2013. the decrease in premium volume was primarily due to decreased premium production in our standard commercial p & c business unit . total revenue for the standard commercial segment of $ 81.5 million for the year ended december 31 , 2014 was $ 1.8 million less than the $ 83.3 million reported during the year ended december 31 , 2013. this 2 % decrease in total revenue was mostly due to an increased adverse profit share commission revenue adjustment of $ 1.6 million and lower net investment income of $ 0.3 million , partially offset by higher net earned premiums of $ 0.1 million . 46 our standard commercial segment reported pre-tax income of $ 4.6 million for the year ended december 31 , 2014 which was $ 2.6 million higher than the $ 2.0 million reported for the same period of 2013. the increase in pre-tax income for the standard commercial segment was the result of lower loss and lae of $ 5.0 million , partially offset by higher operating expenses of $ 0.6 million primarily consisting of higher professional services and higher salary and related expenses . the increase in pre-tax income for the standard commercial segment was further partially offset by the decreased revenue discussed above . the net loss ratio for the year ended december 31 , 2014 was 65.3 % as compared to the 71.8 % reported for the year ended december 31 , 2013. the gross loss ratio before reinsurance was 71.7 % for the year ended december 31 , 2014 as compared to 67.8 % for the prior year . the increase in the gross loss ratio was primarily due to $ 16.9 million of gross catastrophe losses for the year ended december 31 , 2014 as compared to $ 6.0 million for the same period during 2013. the net loss ratio improved primarily due to $ 10.7 million of ceded loss recoveries during the year ended december 31 , 2014 as compared to $ 2.1 million reported for the same period in 2013. the standard commercial segment reported $ 13.4 million of net catastrophe losses for the year ended december 31 , 2014 as compared to $ 6.0 million for the same period during 2013. specialty commercial segment . gross premiums written for the specialty commercial segment were $ 324.5 million for the year ended december 31 , 2014 , which was $ 28.4 million , or approximately 10 % , more than the $ 296.1 million reported for the same period in 2013. net premiums written were $ 230.6 million for the year ended december 31 , 2014 as compared to $ 235.7 million reported for the same period in 2013. the lower net premiums written was primarily due to a quota share reinsurance agreement entered into during the third quarter of 2013 in our hallmark select business unit on our general aviation line of business and a quota share agreement entered into during the second quarter of 2014 on business produced by a program underwriter in our e & s commercial business unit . the $ 241.9 million of total revenue for the year ended december 31 , 2014 was $ 12.2 million higher than the $ 229.7 million reported for 2013. this 5 % increase in revenue was due to higher net premiums earned of $ 10.3 million due predominately to increased production discussed above . further contributing to this increased revenue was higher net investment income of $ 1.6 million and higher commissions and fees revenue of $ 0.3 million . pre-tax income for the specialty commercial segment of $ 34.2 million for the year ended december 31 , 2014 was $ 14.7 million higher than the $ 19.5 million reported for the same period in 2013. the increase in pre-tax income was primarily due to the increased revenue discussed above , lower loss and lae expenses of $ 2.6 million and lower amortization of intangible assets of $ 0.3 million , partially offset by higher operating expenses of $ 0.4 million . our e & s commercial business unit reported a $ 0.2 million decrease in loss and lae for the year ended december 31 , 2014 as compared to the same period of 2013. in addition , our hallmark select business unit reported a $ 2.3 million decrease in loss and lae which consisted of ( a ) a $ 7.1 million decrease in loss and lae primarily due to increased reinsurance recoveries on the general aviation quota share agreement entered into during the third quarter of 2013 , ( b ) a $ 2.1 million increase in loss and lae due to increased premium production in our commercial umbrella and excess liability line of business , ( c ) a $ 0.8 million increase in loss and lae attributable to our medical professional liability insurance products and ( d ) a $ 1.9 million increase in loss and lae in our satellite insurance products due primarily to the increased occurrence of insured satellite losses during the year . the increase in operating expense was the combined result of higher salary and related expenses of $ 1.5 million due primarily to increased incentive compensation accruals and higher other operating expenses of $ 0.4 million partially offset by lower production related expenses of $ 1.3 million due to increased ceding commissions on the quota share reinsurance agreements discussed above and lower professional services of $ 0.2 million . the specialty commercial segment reported a net loss ratio of 65.5 % for the year ended

liquidity and capital resources sources and uses of funds our sources of funds are from insurance-related operations , financing activities and investing activities . major sources of funds from operations include premiums collected ( net of policy cancellations and premiums ceded ) , commissions and processing and service fees . as a holding company , hallmark is dependent on dividend payments and management fees from its subsidiaries to meet operating expenses and debt obligations . as of december 31 , 2014 , hallmark had $ 11.8 million in unrestricted cash and cash equivalents . unrestricted cash and cash equivalents of our non-insurance subsidiaries were $ 5.3 million as of december 31 , 2014. as of that date , our insurance subsidiaries held $ 113.9 million of cash and cash equivalents as well as $ 450.8 million in debt securities with an average modified duration of 3.0 years . accordingly , we do not anticipate selling long-term debt instruments to meet any liquidity needs . ahic and tbic , domiciled in texas , are limited in the payment of dividends to their stockholders in any 12-month period , without the prior written consent of the texas department of insurance , to the greater of statutory net income for the prior calendar year or 10 % of statutory policyholders ' surplus as of the prior year end . hic and hnic , both domiciled in arizona , are limited in the payment of dividends to the lesser of 10 % of prior year policyholders ' surplus or prior year 's net investment income , without prior written approval from the arizona department of insurance . hsic , domiciled in oklahoma , is limited in the payment of dividends to the greater of 10 % of prior year policyholders ' surplus or prior year 's statutory net income , not including realized capital gains , without prior written approval from the oklahoma insurance department . for all our insurance companies , dividends may only be paid from unassigned surplus funds . during 2015 , the aggregate ordinary dividend capacity of these subsidiaries is $ 24.3 million , of which $ 16.2 million is available to hallmark .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources sources and uses of funds our sources of funds are from insurance-related operations , financing activities and investing activities . major sources of funds from operations include premiums collected ( net of policy cancellations and premiums ceded ) , commissions and processing and service fees . as a holding company , hallmark is dependent on dividend payments and management fees from its subsidiaries to meet operating expenses and debt obligations . as of december 31 , 2014 , hallmark had $ 11.8 million in unrestricted cash and cash equivalents . unrestricted cash and cash equivalents of our non-insurance subsidiaries were $ 5.3 million as of december 31 , 2014. as of that date , our insurance subsidiaries held $ 113.9 million of cash and cash equivalents as well as $ 450.8 million in debt securities with an average modified duration of 3.0 years . accordingly , we do not anticipate selling long-term debt instruments to meet any liquidity needs . ahic and tbic , domiciled in texas , are limited in the payment of dividends to their stockholders in any 12-month period , without the prior written consent of the texas department of insurance , to the greater of statutory net income for the prior calendar year or 10 % of statutory policyholders ' surplus as of the prior year end . hic and hnic , both domiciled in arizona , are limited in the payment of dividends to the lesser of 10 % of prior year policyholders ' surplus or prior year 's net investment income , without prior written approval from the arizona department of insurance . hsic , domiciled in oklahoma , is limited in the payment of dividends to the greater of 10 % of prior year policyholders ' surplus or prior year 's statutory net income , not including realized capital gains , without prior written approval from the oklahoma insurance department . for all our insurance companies , dividends may only be paid from unassigned surplus funds . during 2015 , the aggregate ordinary dividend capacity of these subsidiaries is $ 24.3 million , of which $ 16.2 million is available to hallmark .
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 Suspicious Activity Report : for additional discussion of our accounting policies , see note 1 to the audited consolidated financial statements included in this report . impairment of investments . we complete a detailed analysis each quarter to assess whether any decline in the fair value of any investment below cost is deemed other-than-temporary . all securities with an unrealized loss are reviewed . we recognize an impairment loss when an investment 's value declines below cost , adjusted for accretion , amortization and previous other-than-temporary impairments and it is determined that the decline is other-than-temporary . debt investments : we assess whether we intend to sell , or it is more likely than not that we will be required to sell , a fixed maturity investment before recovery of its amortized cost basis less any current period credit losses . for fixed maturity investments that are considered other-than-temporarily impaired and that we do not intend to sell and will not be required to sell , we separate the amount of the impairment into the amount that is credit related ( credit loss component ) and the amount due to all other factors . the credit loss component is recognized in earnings and is the difference between the investment 's amortized cost basis and the present value of its expected future cash flows . the remaining difference between the investment 's fair value and the present value of future expected cash flows is recognized in other comprehensive income . equity investments : some of the factors considered in evaluating whether a decline in fair value for an equity investment is other-than-temporary include : ( 1 ) our ability and intent to retain the investment for a period of time sufficient to allow for an anticipated recovery in value ; ( 2 ) the recoverability of cost ; ( 3 ) the length of time and extent to which the fair value has been less than cost ; and ( 4 ) the financial condition and near-term and long-term prospects for the issuer , including the relevant industry conditions and trends , and implications of rating agency actions and offering prices . when it is determined that an equity investment is other-than-temporarily impaired , the security is written down to fair value , and the amount of the impairment is included in earnings as a realized investment loss . the fair value then becomes the new cost basis of the investment , and any subsequent recoveries in fair value are recognized at disposition . we recognize a realized loss when impairment is deemed to be other-than-temporary even if a decision to sell an equity investment has not been made . when we decide to sell a temporarily impaired available-for-sale equity investment and we do not expect the fair value of the equity investment to fully recover prior to the expected time of sale , the investment is deemed to be other-than-temporarily impaired in the period in which the decision to sell is made . fair values of financial instruments . accounting standards codification ( “ asc ” ) 820 defines fair value , establishes a consistent framework for measuring fair value and expands disclosure requirements about fair value measurements . asc 820 , among other things , requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value . in addition , asc 820 precludes the use of block discounts when measuring the fair value of instruments traded in an active market , which were previously applied to large holdings of publicly traded equity securities . 41 we determine the fair value of our financial instruments based on the fair value hierarchy established in asc 820. in accordance with asc 820 , we utilize the following fair value hierarchy : · level 1 : quoted prices in active markets for identical assets ; · level 2 : inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets , inputs of identical assets for less active markets , and inputs that are observable for the asset or liability , either directly or indirectly , for substantially the full term of the instrument ; and · level 3 : inputs to the valuation methodology that are unobservable for the asset or liability . this hierarchy requires the use of observable market data when available . under asc 820 , we determine fair value based on the price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date . it is our policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements , in accordance with the fair value hierarchy described above . fair value measurements for assets and liabilities where there exists limited or no observable market data are calculated based upon our pricing policy , the economic and competitive environment , the characteristics of the asset or liability and other factors as appropriate . these estimated fair values may not be realized upon actual sale or immediate settlement of the asset or liability . where quoted prices are available on active exchanges for identical instruments , investment securities are classified within level 1 of the valuation hierarchy . level 1 investment securities include common stock and preferred stock . level 2 investment securities include corporate bonds , collateralized corporate bank loans , municipal bonds , u.s. treasury securities , other obligations of the u.s. government and mortgage-backed securities for which quoted prices are not available on active exchanges for identical instruments . we use a third party pricing service to determine fair values for each level 2 investment security in all asset classes . story_separator_special_tag gross premiums written for the standard commercial segment were $ 84.7 million for the year ended december 31 , 2014 , which was $ 2.4 million , or approximately 3 % , less than the $ 87.1 million reported for the same period in 2013. net premiums written were $ 76.9 million for the year ended december 31 , 2014 as compared to $ 79.5 million reported for the same period in 2013. the decrease in premium volume was primarily due to decreased premium production in our standard commercial p & c business unit . total revenue for the standard commercial segment of $ 81.5 million for the year ended december 31 , 2014 was $ 1.8 million less than the $ 83.3 million reported during the year ended december 31 , 2013. this 2 % decrease in total revenue was mostly due to an increased adverse profit share commission revenue adjustment of $ 1.6 million and lower net investment income of $ 0.3 million , partially offset by higher net earned premiums of $ 0.1 million . 46 our standard commercial segment reported pre-tax income of $ 4.6 million for the year ended december 31 , 2014 which was $ 2.6 million higher than the $ 2.0 million reported for the same period of 2013. the increase in pre-tax income for the standard commercial segment was the result of lower loss and lae of $ 5.0 million , partially offset by higher operating expenses of $ 0.6 million primarily consisting of higher professional services and higher salary and related expenses . the increase in pre-tax income for the standard commercial segment was further partially offset by the decreased revenue discussed above . the net loss ratio for the year ended december 31 , 2014 was 65.3 % as compared to the 71.8 % reported for the year ended december 31 , 2013. the gross loss ratio before reinsurance was 71.7 % for the year ended december 31 , 2014 as compared to 67.8 % for the prior year . the increase in the gross loss ratio was primarily due to $ 16.9 million of gross catastrophe losses for the year ended december 31 , 2014 as compared to $ 6.0 million for the same period during 2013. the net loss ratio improved primarily due to $ 10.7 million of ceded loss recoveries during the year ended december 31 , 2014 as compared to $ 2.1 million reported for the same period in 2013. the standard commercial segment reported $ 13.4 million of net catastrophe losses for the year ended december 31 , 2014 as compared to $ 6.0 million for the same period during 2013. specialty commercial segment . gross premiums written for the specialty commercial segment were $ 324.5 million for the year ended december 31 , 2014 , which was $ 28.4 million , or approximately 10 % , more than the $ 296.1 million reported for the same period in 2013. net premiums written were $ 230.6 million for the year ended december 31 , 2014 as compared to $ 235.7 million reported for the same period in 2013. the lower net premiums written was primarily due to a quota share reinsurance agreement entered into during the third quarter of 2013 in our hallmark select business unit on our general aviation line of business and a quota share agreement entered into during the second quarter of 2014 on business produced by a program underwriter in our e & s commercial business unit . the $ 241.9 million of total revenue for the year ended december 31 , 2014 was $ 12.2 million higher than the $ 229.7 million reported for 2013. this 5 % increase in revenue was due to higher net premiums earned of $ 10.3 million due predominately to increased production discussed above . further contributing to this increased revenue was higher net investment income of $ 1.6 million and higher commissions and fees revenue of $ 0.3 million . pre-tax income for the specialty commercial segment of $ 34.2 million for the year ended december 31 , 2014 was $ 14.7 million higher than the $ 19.5 million reported for the same period in 2013. the increase in pre-tax income was primarily due to the increased revenue discussed above , lower loss and lae expenses of $ 2.6 million and lower amortization of intangible assets of $ 0.3 million , partially offset by higher operating expenses of $ 0.4 million . our e & s commercial business unit reported a $ 0.2 million decrease in loss and lae for the year ended december 31 , 2014 as compared to the same period of 2013. in addition , our hallmark select business unit reported a $ 2.3 million decrease in loss and lae which consisted of ( a ) a $ 7.1 million decrease in loss and lae primarily due to increased reinsurance recoveries on the general aviation quota share agreement entered into during the third quarter of 2013 , ( b ) a $ 2.1 million increase in loss and lae due to increased premium production in our commercial umbrella and excess liability line of business , ( c ) a $ 0.8 million increase in loss and lae attributable to our medical professional liability insurance products and ( d ) a $ 1.9 million increase in loss and lae in our satellite insurance products due primarily to the increased occurrence of insured satellite losses during the year . the increase in operating expense was the combined result of higher salary and related expenses of $ 1.5 million due primarily to increased incentive compensation accruals and higher other operating expenses of $ 0.4 million partially offset by lower production related expenses of $ 1.3 million due to increased ceding commissions on the quota share reinsurance agreements discussed above and lower professional services of $ 0.2 million . the specialty commercial segment reported a net loss ratio of 65.5 % for the year ended

