Reinsurance News
Trean Insurance Group
Trean enhances workers’ comp operations with Origami Risk suite
15th April 2024
Trean Insurance Group, a provider of products and services for the specialty insurance market, has implemented Origami Risk’s multi-tenant core property and casualty solution suite to streamline its workers’ compensation business. This comprehensive solution is set to enhance policy administration, billing, and claims functionality across Trean’s nationwide operations. Moreover, it allows Trean ... Read the full article
Trean Insurance Group acquisition by Altaris Capital Partners completed
25th April 2023
Trean Insurance Group, a provider of products and services to the specialty insurance market, has been acquired by Altaris, collectively with its affiliates, for $6.15 per share in cash. The transaction was completed five months after the companies announced they had entered into a merger agreement in December 2023. At ... Read the full article
Trean Insurance Group gets stockholder approval for proposed merger
19th April 2023
Trean Insurance Group has announced that its stockholders have approved the merger agreement entered into by the firm with affiliates of Altaris. According to Trean, the proposal to adopt the merger agreement and approve the merger was supported by 87.3% of the total shares outstanding entitled to vote at the Special ... Read the full article
Trean Insurance Group agrees to be acquired by Altaris Capital Partners
19th December 2022
Trean Insurance Group has announced that it has entered into a definitive merger agreement with affiliates of Altaris, which currently owns approximately 47% of Trean’s outstanding common stock. The transaction, which implies a total equity value for Trean of approximately $316 million, is expected to close during the first half of ... Read the full article
Trean increases surplus with $50mn notes offering
25th August 2022
Trean Insurance Group has increased the surplus of its subsidiary Benchmark Insurance Company by completing a private offering of $50 million aggregate principal amount of its 6.75% Surplus Notes due August 2042. The company stated that surplus notes are unsecured, subordinated debt obligations of Benchmark and are planned to be treated ... Read the full article
Trean and Beat partner up in surplus lines market
27th July 2022
Trean Insurance Group and Beat Capital Partners Americas, a long duration investor specialising in the insurance industry, are partnering up in the surplus lines insurance market. According to a statement, Trean will will offer E&S products through its exclusive relationship with Beat via its subsidiary form Benchmark Specialty, giving Trean its ... Read the full article
Trean moves O’Brien to Exec Chairman, Baron to CEO
11th March 2022
Insurance management and reinsurance consulting company Trean Insurance Group has announced that its current CEO, Andrew O’Brien, will move into a new role on its Board as Executive Chairman, effective July 1, 2022. At the same time, Julie Baron, who currently serves as President and Chief Operating Officer, will fill the ... Read the full article
Trean’s Benchmark forms new excess and surplus lines subsidiary
29th December 2021
Benchmark Insurance Company, a writer of program business and subsidiary of Trean Insurance Group, has formed a new excess and surplus (E&S) lines subsidiary, Benchmark Specialty Insurance Company. Benchmark Specialty is an Arkansas domestic surplus lines carrier and appears destined to become the main E&S carrier for the Trean group of ... Read the full article
Trean reports $156m GWP for Q2
12th August 2021
Insurance management and reinsurance consulting company Trean Insurance Group has posted its gross written premiums (GWP) at $156.6 million for the second quarter of 2021, compared to $109.6 million for the same prior year period. This increase in GWP was due to the growth in Trean’s existing program partner business, along ... Read the full article
Trean announces two senior promotions
18th June 2021
Insurance management and reinsurance consulting company Trean Insurance Group has promoted Chief Financial Officer Julie Baron to the new position of President and Chief Operating Officer, and Chief Accounting Officer Nicholas Vassallo to Chief Financial Officer. Baron has served as Trean’s CFO since 2015 and Treasurer and Secretary since 2020. Prior to ... Read the full article
Trean net income sinks to $6.8m, but CR improves to 89%
13th May 2021
Insurance management and reinsurance consulting company Trean Insurance Group, Inc. has posted net income of $6.79 million for the first quarter of 2021, representing a decrease of 29.3% on the same period last year. The result was mainly attributable to a 51.3% decrease in investment income, which totalled $1.59 million versus ... Read the full article
Trean posts 42% income drop in Q2
28th August 2020
Insurance management and reinsurance consulting company Trean Insurance Group, Inc. has posted a 41.8% decrease in net income over the second quarter of 2020. After completing its initial public offering (IPO) in July 2020, Trean recorded a net income of $3.7 million for the Q2 period, down from $6.4 million for ... Read the full article
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