Trean Insurance Group Announces Affirmation of “A” (Excellent) Rating from A.M. Best
Trean Insurance Group (Nasdaq: TIG) announced that A.M. Best has affirmed the financial strength rating of “A” (Excellent) for its Benchmark Insurance Group, reflecting strong balance sheet strength and operating performance. This rating has been held since May 2019. Moreover, A.M. Best affirmed the Long-Term Issuer Credit Rating of “bbb” (Good) for Trean, maintaining a stable outlook. CEO Julie Baron emphasized that the affirmation showcases the company’s underwriting discipline and stability in the specialty insurance market.
- A.M. Best affirmed Trean's financial strength rating of 'A' (Excellent).
- Strong balance sheet and operating performance indicated by A.M. Best ratings.
- Stable outlook for the Long-Term Issuer Credit Rating of 'bbb' (Good).
- None.
WAYZATA, Minn., Oct. 13, 2022 (GLOBE NEWSWIRE) -- 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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