Trean Insurance Group Completes Acquisition of 7710 Insurance Company
October 02 2020 - 11:15AM
Trean Insurance Group, Inc. (Nasdaq: TIG) (“Trean” or the
“Company”), a leading provider of products and services to the
specialty insurance market, today announced that its wholly-owned
subsidiary Benchmark Holding Company has completed the acquisition
of 7710 Insurance Company, as well as its associated program
manager and agency.
“We are pleased to officially welcome 7710 into
the Trean family,” said Andy O’Brien, TIG’s President and Chief
Executive Officer. “7710 is a perfect example of executing on our
growth strategy by opportunistically adding a leader in the
underserved workers’ comp market for the emergency services
industry. 7710’s specialized business model and expertise within
the emergency services space further expands our reach in providing
exceptional services and products to underserved insurance
markets.”
“Today, 7710 Insurance Company is excited to
join the Trean Insurance Group, where we will continue to be the
national workers’ compensation insurer of choice for first
responders. Our focus will remain the same – to build on our
value proposition of prevention and cost containment and be the
long-term workers’ compensation solution for the emergency services
industry,” said Bill Adamson, CEO of 7710 Insurance Company.
7710 Insurance Company joins TIG’s other
affiliated insurance companies American Liberty Insurance Company
and Benchmark Insurance Company - both A.M. Best ‘A VIII’-rated
carriers offering specialty property and casualty products in 49
states and D.C.
Forward-Looking Statements
This press release contains forward-looking
statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include
statements that are not historical or current facts. You can
identify forward-looking statements by words such as “anticipate,”
“estimate,” “expect,” “intend,” “plan,” “predict,” “project,”
“believe,” “seek,” “outlook,” “future,” “will,” “would,” “should,”
“could,” “may,” “can have,” “likely” and similar terms.
Forward-looking statements are based on management’s current
expectations and assumptions about future events. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. Factors that may cause such differences include the
risks described in the Company’s filings with the Securities and
Exchange Commission, including its Quarterly Report on Form 10-Q
for the quarter ended June 30, 2020. These forward-looking
statements speak only as of the date of this press release. The
Company disclaims any obligation to update or revise any
forward-looking statement, whether as a result of new information,
future developments, changes in assumptions or otherwise.
About Trean
Insurance Group, Inc.
Trean Insurance Group, Inc. (Nasdaq: TIG)
provides products and services to the specialty insurance market.
Trean underwrites specialty casualty insurance products both
through its program partners and its own managing general agencies.
Trean also provides its program partners with a variety of services
including issuing carrier services, claims administration and
reinsurance brokerage. Trean is licensed to write business across
49 states and the District of Columbia. For more information,
please visit www.trean.com.
Contacts
Investor Relationsinvestor.relations@trean.com(952) 974-2260
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