Trean Insurance Group, Inc. (Nasdaq: TIG) (“Trean”), a leading provider of products and services to the specialty insurance market, and Beat Capital Partners Americas (“Beat”), a long duration investor specializing in the insurance industry, are pleased to announce a partnership in the surplus lines insurance market.
Trean, via its recently formed subsidiary Benchmark Specialty Insurance Company (“Benchmark Specialty”), will offer E&S products through its exclusive relationship with Beat, giving Trean its first partnership in the large non-admitted insurance underwriting market. In turn, newly established Beat-backed agencies will have access to Benchmark Specialty’s A.M. Best “A” rated paper, as well as Trean’s claims, underwriting, and operational expertise.
“I am excited that Trean and Beat will work closely together as Beat grows its presence in the U.S.,” said Julie Baron, Chief Executive Officer of Trean. “Given Beat’s experience establishing and running specialty programs and Trean’s long history of supporting top-quality MGAs, this partnership creates a powerful combination and will contribute to Trean’s ability to achieve its long-term goals.”
John Cavanagh, Co-Founder of Beat, said, “I have known the Trean leadership team for decades and am incredibly pleased to partner with them as we accelerate Beat’s expansion in the U.S. The ability for Beat-backed U.S. businesses to exclusively access ‘A’ rated paper, provided by a proven company with an exceptionally experienced management team, is another reason I am thrilled with Beat’s offering in the U.S. for entrepreneurial underwriters.”