Trean Insurance Group Announces Exclusive Partnership with Beat Capital
July 26 2022 - 4:25PM
Trean Insurance Group, Inc. (Nasdaq: TIG) (“Trean”), a leading
provider of products and services to the specialty insurance
market, and Beat Capital Partners Americas (“Beat”), a long
duration investor specializing in the insurance industry, are
pleased to announce a partnership in the surplus lines insurance
market.
Trean, via its recently formed subsidiary
Benchmark Specialty Insurance Company (“Benchmark Specialty”), will
offer E&S products through its exclusive relationship with
Beat, giving Trean its first partnership in the large non-admitted
insurance underwriting market. In turn, newly established
Beat-backed agencies will have access to Benchmark Specialty’s A.M.
Best “A” rated paper, as well as Trean’s claims, underwriting, and
operational expertise.
“I am excited that Trean and Beat will work
closely together as Beat grows its presence in the U.S.,” said
Julie Baron, Chief Executive Officer of Trean. “Given Beat’s
experience establishing and running specialty programs and Trean’s
long history of supporting top-quality MGAs, this partnership
creates a powerful combination and will contribute to Trean’s
ability to achieve its long-term goals.”
John Cavanagh, Co-Founder of Beat, said, “I have
known the Trean leadership team for decades and am incredibly
pleased to partner with them as we accelerate Beat’s expansion in
the U.S. The ability for Beat-backed U.S. businesses to exclusively
access ‘A’ rated paper, provided by a proven company with an
exceptionally experienced management team, is another reason I am
thrilled with Beat’s offering in the U.S. for entrepreneurial
underwriters.”
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. For more information, please visit
www.trean.com.
About Beat Capital Partners
Beat Capital Partners is a long duration venture
capital investor exclusively focused on the insurance industry,
offering the right individuals and teams start-up funding,
infrastructure, risk capital, and highly rated paper, alongside
experienced guidance and support. Beat has launched eight
businesses since its founding in 2017, which will collectively
write gross premiums of an estimated US $650 million in 2022, and
operates Lloyd’s Syndicate 4242. Beat is backed by experienced
insurance investors Bain Capital Credit, Elliott Management and
Amwins, as well as its management team, and is committed to being
the best possible partner for entrepreneurial insurance talent. For
more information, see www.beatcapital.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, 2021. 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
Trean Investor Relations investor.relations@trean.com +1 (952)
974-2260
Beat Media ContactsHaggie Partners David
Haggie, david@haggie.co.uk, +44 (0)7768 332 486Hannah Stewart,
Hannah.Stewart@haggie.co.uk, +44 (0)7795 155 654
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