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Trean Insurance Group, Inc. (Nasdaq: TIG) has announced the formation of a new excess and surplus lines subsidiary, Benchmark Specialty Insurance Company, licensed in Arkansas. This new entity will join existing companies under the Trean Insurance Group, which includes Benchmark Insurance Company, American Liberty Insurance Company, and 7710 Insurance Company. With regulatory approval in Arkansas secured, Benchmark Specialty Insurance is now pursuing additional approvals to operate throughout the U.S., enhancing Trean's capacity to provide comprehensive risk solutions.
Trean Insurance Group, Inc. reported strong Q3 2021 results with 34.3% growth in gross written premiums to $177.6 million and 86.5% growth in net earned premiums to $52.0 million. The company achieved a net income of $6.5 million and diluted earnings per share of $0.13. The combined ratio improved to 88.3%, indicating better underwriting performance. For FY 2021, Trean expects gross written premiums between $610 million and $620 million. Despite a loss ratio increase to 61.8%, no new large losses were reported in Q3.
Trean Insurance Group, a key player in the specialty insurance market, will announce its third-quarter 2021 results on November 10, 2021, post-market. A conference call to discuss these results is scheduled for 5:00 p.m. ET on the same day. Interested participants can access the call via the company’s investor relations webpage or dial in using the provided numbers. A replay of the call will be available for one year.
Trean offers specialty casualty insurance products and related services across 49 states, reflecting its extensive market presence.
Trean Insurance Group (TIG) reported impressive second-quarter results for 2021, achieving a 43% year-over-year growth in gross written premiums to $156.6 million. The company also saw a remarkable 124% increase in net earned premiums, reaching $47.9 million. Net income stood at $2.1 million, with diluted earnings per share at $0.04. Adjusted net income was $4.3 million and adjusted earnings per share were $0.08. The growth in premiums is attributed to the expansion of existing program partnerships and disciplined underwriting. Trean aims for $1 billion in gross written premiums by 2026.
Trean Insurance Group (NASDAQ: TIG) announced its second quarter 2021 earnings release date, scheduled for August 11, 2021, after market close. Following the release, a webcast and conference call will begin at 5:00 p.m. Eastern Time to discuss the results. Interested participants can access the audio webcast on the company’s investor relations website. A replay of the conference call will be available for one year afterwards. Trean specializes in providing services and products in the specialty insurance market, licensed across 49 states plus the District of Columbia.
Trean Insurance Group (Nasdaq: TIG) has announced the promotion of Julie Baron to President and Chief Operating Officer, effective June 23, 2021. Nicholas Vassallo will take over as Chief Financial Officer, succeeding Baron. CEO Andrew O’Brien highlighted Baron's extensive experience in the insurance sector and her leadership skills, indicating a focus on growth opportunities. Vassallo, previously the Chief Accounting Officer, is recognized for his role in enhancing the financial teams and stability of the company. Both promotions aim to strengthen Trean's strategic objectives in the specialty insurance market.
Trean Insurance Group (NASDAQ: TIG) announced that Andrew O’Brien, President and CEO, will participate in a fireside chat at the William Blair Growth Stock Conference on June 1, 2021, at 2:00 PM CT / 3:00 PM ET. A live webcast will be available on their investor relations website, with a replay accessible afterward.
Trean provides specialty insurance products and services, underwrites specialty casualty insurance, and offers various services to program partners. The company operates in 49 states and D.C.
Trean Insurance Group (Nasdaq:TIG) announced a secondary offering of 5,000,000 shares of common stock at $14.00 per share. The offering is set to close on May 24, 2021, pending standard closing conditions. The shares are being offered by selling stockholders, with underwriters having the option to buy an additional 750,000 shares.
Trean will not receive any proceeds from this offering. J.P. Morgan and Evercore ISI lead the offering, with an SEC registration already effective.
Trean Insurance Group, Inc. (Nasdaq:TIG) announced an offering of 5 million shares of common stock by selling stockholders, with an option for underwriters to purchase an additional 750,000 shares. Trean will not receive any proceeds from this underwritten offering. J.P. Morgan and Evercore ISI are the lead managers, with William Blair and JMP Securities also involved. The offering is subject to market conditions, and no sales can occur until the SEC registration statement becomes effective.
Trean Insurance Group (Nasdaq: TIG) reported a strong first quarter of 2021 with 36% year-over-year growth in gross written premiums reaching $146.7 million. Net earned premiums surged 83% to $41.1 million. The company achieved a net income of $6.8 million with diluted earnings per share at $0.13. Adjusted metrics showed net income at $8.0 million and earnings per share at $0.16. The combined ratio improved to 89.4% from 93.9% a year earlier. Despite a rising loss ratio of 60.5%, Trean emphasized its growth from new partners and a robust balance sheet.
