Trean Insurance Group Appoints Philip I. Smith to Board of Directors
March 10 2022 - 8:00AM
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 a new independent director, Philip I.
Smith, to its Board of Directors, effective immediately.
Mr. Smith brings to the Board over 25 years of
experience in finance and executive management. He is currently a
managing director of Duff & Phelps, an investment banking firm
that provides valuation, corporate finance and other services,
where he provides mergers and acquisitions advisory services. His
appointment increases the size of the Board to seven members, five
of whom are independent under applicable SEC and Nasdaq
guidelines.
“Phil’s wealth of expertise in corporate finance
and executive management – particularly his experience with public
companies – will further enhance our Board and add considerable
value,” said Andy O’Brien, Chief Executive Officer of Trean. “We
warmly welcome Phil and look forward to working with him as we
continue to grow profitably.”
Prior to joining Duff & Phelps in 2017, Mr.
Smith was a Managing Director with BMO Capital Markets (formerly
Greene Holcomb and Fisher) where he focused on healthcare mergers
and acquisitions. Before that, he was a member of the medical
device investment banking team at Piper Jaffray in Minneapolis.
Early in his career, Mr. Smith served as an executive officer for a
number of medical technology companies, including DGIMED Ortho,
Vital Images, Thermonix and Image-Guided Neurologics. He has also
served on the board of directors of Delta Dental of Minnesota, MGC
Diagnostics (formerly Angeion Corp) and Intricon Corp. Mr. Smith
received an MBA from the Wharton School of the University of
Pennsylvania and a BS in electrical engineering from the University
of Florida.
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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