Participants in the Solicitation
The Company and certain of its directors, executive officers and other employees, under the SECs rules, may be deemed to be participants in the
solicitation of proxies of the Companys stockholders in connection with the Merger. Additional information regarding the interests of those participants and other persons who may be deemed participants in the Merger and their respective direct
and indirect interests in the Merger, by security holdings or otherwise, will be included in the definitive proxy statement and other materials to be filed with the SEC in connection with the Merger (if and when they become available). Information
relating to the foregoing can also be found in the Companys definitive proxy statement for its 2022 Annual Meeting of Stockholders (the 2022 Proxy Statement), which was filed with the SEC on April 5, 2022. To the extent that
holdings of Companys securities have changed since the amounts printed in the 2022 Proxy Statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Free copies of these documents
may be obtained as described in the preceding paragraph.
On December 16, 2022, the Company distributed the following email to managing general
agents relating to the Merger Agreement:
Subject Line: An Important Milestone for Trean
Dear [INSERT MGA CONTACT],
Im reaching out to share an
update from Trean Insurance Group. As you may have seen, Trean announced that it has entered into an agreement to be acquired by Altaris, an investment firm and a longtime partner of Trean that currently owns approximately 47% of Treans
outstanding common stock. The press release we issued regarding the news is available here [INSERT LINK TO PRESS RELEASE].
We are very excited about this
news and what it means for the next chapter of Trean. We believe this is great news for all of our stakeholders and especially you, our managing general agents. We believe partnering with Altaris and operating as a private company will allow
us to focus more on advancing the business, accelerating our growth strategy and delivering even better for our program partners, agents and insureds. We look forward to Altaris strategic guidance and investment as we continue to focus on
efficient claims management, underwriting discipline and strong partnerships to drive sustainable and profitable growth over the long term.
Importantly,
we dont anticipate this transaction to have any impact on our relationship with you or the products and services you currently receive from us. Your point of contact will not change, and there will be no changes to the way we do business with
you.
We expect to complete the transaction during the first half of 2023, pending stockholder approval, regulatory approval and other customary closing
conditions. Until that time, it is business as usual, and Trean will continue to operate independently. We remain 100% committed to you and to maintaining our strong relationship well into the future. We are here for you so please dont
hesitate to reach out with any questions.
As always, thank you for your continued partnership with Trean. We look forward to continuing to work together
as we enter this next chapter as a private company.
Sincerely,
[NAME]
Cautionary Statement Regarding Forward-Looking
Statements
This communication contains, and the Companys other filings and communications may contain, forward-looking statements, which include
all statements that do not relate solely to historical or current facts, such as statements regarding our expectations, intentions or strategies regarding the future. In some cases, you can identify forward-looking statements by the following words:
may, will, could, would, should, expect, intend, plan, anticipate, believe, estimate, predict,
project, aim, potential, continue, ongoing, goal, can,