Trean Insurance Group Announces Affirmation of “A” (Excellent) Rating from A.M. Best
October 13 2022 - 4:15PM
Trean Insurance Group, Inc. (Nasdaq: TIG) (“Trean”, “the Company”),
a leading provider of products and services to the specialty
insurance market, today announced that rating agency A.M. Best has
again affirmed the financial strength rating of “A” (Excellent) for
its insurance companies Benchmark Insurance Company, Benchmark
Specialty Insurance Company, American Liberty Insurance Company and
7710 Insurance Company, collectively known as Benchmark Insurance
Group (“BIG”).
The ratings of BIG reflect its balance sheet
strength, which AM Best assesses as very strong, as well as its
strong operating performance, limited business profile and
appropriate enterprise risk management. BIG has held this rating
since May 2019. Concurrently, AM Best has affirmed the Long-Term
Issuer Credit Rating (ICR) of “bbb” (Good) of the Company. The
outlook of these Credit Ratings (ratings) is stable.
“The affirmation of our ‘A’ rating is a
testament to our continued underwriting discipline and focus on
stability. Trean’s insurance companies continue to differentiate
and separate themselves as leaders in the specialty insurance
market,” said Julie Baron, Chief Executive Officer of Trean. “The
A.M. Best ‘A’ rating is assigned only to select companies that have
the financial strength and ability to meet ongoing insurance policy
and financial obligations. We are very proud to hold this rating
status.”
To view A.M. Best’s full release, please visit
the following link.
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, 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
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