Trean Insurance Group Completes Acquisition of 7710 Insurance Company

WAYZATA, Minn., Oct. 02, 2020 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (Nasdaq: TIG) (“Trean” or the “Company”), a leading provider of products and services to the specialty insurance market, today announced that its wholly-owned subsidiary Benchmark Holding Company has completed the acquisition of 7710 Insurance Company, as well as its associated program manager and agency.

“We are pleased to officially welcome 7710 into the Trean family,” said Andy O’Brien, TIG’s President and Chief Executive Officer. “7710 is a perfect example of executing on our growth strategy by opportunistically adding a leader in the underserved workers’ comp market for the emergency services industry. 7710’s specialized business model and expertise within the emergency services space further expands our reach in providing exceptional services and products to underserved insurance markets.”

“Today, 7710 Insurance Company is excited to join the Trean Insurance Group, where we will continue to be the national workers’ compensation insurer of choice for first responders.  Our focus will remain the same – to build on our value proposition of prevention and cost containment and be the long-term workers’ compensation solution for the emergency services industry,” said Bill Adamson, CEO of 7710 Insurance Company.

7710 Insurance Company joins TIG’s other affiliated insurance companies American Liberty Insurance Company and Benchmark Insurance Company - both A.M. Best ‘A VIII’-rated carriers offering specialty property and casualty products in 49 states and D.C. 

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. You can identify forward-looking statements 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. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that may cause such differences include the risks described in the Company’s filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. These forward-looking statements speak only as of the date of this press release. 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.

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.

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