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Trean Insurance Group, a key player in the specialty insurance market, will release its first quarter 2021 results on May 12, 2021, after market close. A conference call and webcast to discuss these results will occur at 5:00 p.m. ET on the same day. Interested listeners can access the audio via the investor relations section of Trean's website. The company, listed on Nasdaq under the symbol TIG, provides specialty casualty insurance products and various services across 49 states and the District of Columbia.
AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of 'a' to 7710 Insurance Company based in Summerton, SC. The ratings outlook is stable. As a new member of Benchmark Insurance Group, 7710 is a wholly owned subsidiary of Benchmark Holding Company, ultimately owned by Trean Insurance Group, Inc. [NASDAQ: TIG]. The firm enables rate flexibility and broader markets for specialty workers’ compensation. The group’s ratings indicate strong balance sheet strength and operational performance.
Trean Insurance Group reported strong results for Q4 2020, with gross written premiums rising 37.4% year-over-year to $134.5 million. The net income for the quarter was $8.1 million, translating to diluted earnings per share of $0.16. Full-year gross written premiums increased 17.7% to $484.2 million, with a loss ratio of 46.8%. Adjusted net income for Q4 was $11.2 million, with an adjusted diluted EPS of $0.22. The company's strong underwriting performance and strategic growth initiatives indicate a promising outlook for 2021.
Trean Insurance Group (Nasdaq: TIG) plans to release its fourth quarter and full year 2020 results on March 24, 2021, after market close. A conference call and webcast will occur the same day at 5:00 p.m. Eastern Time to discuss the results. Interested participants can access the audio through the company’s investor relations website or by calling (877) 407-3982 (toll-free) or (201) 493-6780 (international), using conference ID# 13715046. A replay will be available for one year on the company's website.
Trean Insurance Group (TIG) reported a robust third quarter for 2020, marking a 23% year-over-year growth in gross written premiums, totaling $132.3 million. The company achieved a net income of $69.3 million or $1.41 per diluted share, influenced by a one-time gain of $69.8 million from its investment in Compstar. Adjusted net income was $10.5 million with an adjusted diluted EPS of $0.21. The loss ratio improved to 55.9%, and combined ratio decreased to 81.0%. Overall, Trean showcases strong underwriting performance and effective management despite IPO-related expenses.
Trean Insurance Group (Nasdaq: TIG) will announce its 2020 third quarter financial results on November 12, 2020, after market close. A webcast and conference call to discuss the results will begin at 5:00 p.m. (ET) the same day. Interested parties can access the audio webcast via the investor relations section of the company's website or call (877) 407-3982 for toll-free access. A replay of the call will be available on the website for one year following the event.
Trean specializes in providing products and services for the specialty insurance market, licensed in 49 states and D.C.
Trean Insurance Group (Nasdaq: TIG) announced the acquisition of 7710 Insurance Company and its associated program manager and agency. This strategic move aims to strengthen Trean's presence in the underserved workers’ compensation market, specifically for the emergency services sector. The company aims to integrate 7710’s specialized expertise to enhance its service offerings. 7710 will retain its focus on providing a long-term workers' compensation solution for first responders, joining Trean's portfolio of A.M. Best rated carriers across 49 states.
Trean Insurance Group (Nasdaq: TIG) reported a 5% increase in gross written premiums for Q2 2020, totaling $109.6 million, compared to the previous year. However, the company faced challenges with a loss ratio of 57% and an expense ratio of 38.9%, leading to a combined ratio of 95.9%. Net income was $3.7 million, with adjusted net income at $4.8 million. Return on equity was 10.3%. The company acquired 100% of Compstar and entered an agreement to acquire 7710 Insurance Company post-Q2. Trean aims to leverage its 24-year business model for future growth despite uncertainties from COVID-19.
Trean Insurance Group (NASDAQ: TIG) announced it will release its 2020 second quarter results after market close on August 27, 2020. A webcast and conference call is scheduled for 5:00 p.m. Eastern Time on the same day to discuss the results. Investors can access the call via the company's website or by dialing (833) 519-1344. A replay will be available for one year post-call. Trean specializes in specialty casualty insurance and operates in 49 states and D.C., offering various services to its program partners.
Trean Insurance Group, Inc. (Nasdaq: TIG) has successfully closed its initial public offering, issuing 10,714,286 shares of common stock. The offering included 7,142,857 shares from Trean and 4,778,571 shares from selling stockholders, with an overallotment option exercised for an additional 1,207,142 shares. The closing of the overallotment is anticipated on July 22, 2020. J.P. Morgan, Evercore ISI, and William Blair managed the offering. Trean, focused on the specialty insurance market, will not benefit from the selling stockholders' shares.
