Trean Insurance Group Announces Senior Management Changes
March 09 2022 - 4:10PM
Trean Insurance Group, Inc. (Nasdaq: TIG) (“Trean” or the
“Company”), a leading provider of products and services to the
specialty insurance market, announced today that its Board of
Directors has appointed current CEO Andrew O’Brien as Executive
Chairman of the Board and appointed current President and Chief
Operating Officer Julie Baron as CEO, both effective July 1, 2022.
Ms. Baron will also join the Board of Directors of Trean effective
July 1, 2022.
“I have served as Trean’s CEO since its formation
in 1996,” said Mr. O’Brien. “During that time, we have grown from
an underfunded start-up into the market leader we are today. There
are countless people who have contributed to our success, and I am
grateful for all of them. Today we have a strong and deep bench
equipped with the culture, tools and practices that can be the
foundation for decades of future success. As for me, I have reached
the age when it is time for someone else to take on the CEO role.
We are blessed to have Julie Baron on board who, effective July 1,
2022, will become Trean’s new CEO. I will remain on Trean’s board
as its Executive Chairman and will continue to stay closely
involved with the team’s efforts in evaluating and strengthening
our programs. Julie is an exceptional leader with a deep knowledge
of the insurance business, the ‘secret sauce’ that drives our
company and the support of an exceptional management team. I am
confident she and Trean will continue to succeed, and I look
forward to working with them in my new role.”
“I am honored to take the baton from Andy and lead
the amazing Trean team into the future,” said Ms. Baron. “I
appreciate and am excited for this opportunity and want to thank
the Board, our supportive team, and especially Andy for entrusting
me to lead the next phase of this great company that he has
successfully built. I look forward to continuing our current growth
strategy and further enhancing it through the addition of new,
profitable specialty program partners to our first-class
roster.”
About Julie Baron
Ms. Baron has 30 years of diverse experience and
has been with Trean since 2007, currently serving as President and
Chief Operating Officer. Previous to her current role, Julie held
the role of Chief Financial Officer, as well as Treasurer and
Secretary. Prior to becoming CFO of Trean, Ms. Baron served as the
Controller for Benchmark Insurance Company, Trean’s largest
wholly-owned subsidiary. She also previously served as a controller
for a mortgage broker and title company in the Twin Cities as well
as an auditor at a Minneapolis-based CPA firm. Ms. Baron holds a
B.S. in Accounting from Arizona State University and is a Certified
Public Accountant (inactive).
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.
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. These
statements may discuss the Company’s net income, cash flow,
financial condition, impairments, expenditures, growth, strategies,
plans, achievements, capital structure, organizational structure,
market opportunities and general market and industry conditions.
Such forward-looking statements can be identified 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. These statements
are only predictions and are not guarantees of future performance.
Forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements if the underlying assumptions prove to
be incorrect or as a result of risks, uncertainties, and other
factors, including the impact of the COVID-19 pandemic on the
business and operations of the Company, our program partners and
other business relations. Other factors that may cause such
differences include the risks described in the Company’s filings
with the U.S. Securities and Exchange Commission, including the
Company’s Annual Report on Form 10-K for the year ended December
31, 2020. These forward-looking statements speak only as of the
date on which they are made. Except as required by applicable
securities laws, 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. Investors are cautioned not to place undue reliance on
the forward-looking statements contained in this press release or
in other filings and public statements of the Company.
Contacts
Investor Relationsinvestor.relations@trean.com (952)
974-2260
Source: Trean Insurance Group, Inc.
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