Trean Insurance Group (TIG) is planning to raise $150 million in an initial public offering (IPO) on Thursday, July 16th, IPO Scoop reports. The company plans to issue 10,700,000 shares at $13.00-$15.00 per share.
In the last year, Trean Insurance Group generated $417.7 million in revenue and $31.4 million in net income. Trean Insurance Group has a market-cap of $716 million.
J.P. Morgan, Evercore ISI and William Blair acted as the underwriters for the IPO and JMP Securities was co-manager.
Trean Insurance Group provided the following description of their company for its IPO: ” We have historically focused on specialty risks within the casualty market, including specialty workers’ compensation insurance. While there is no official definition of specialty risks, the specialist component of the P&C market entails expertise in underwriting, loss control, claims and customer knowledge. Specialty insurance markets can focus on niche market segments or specific industries and product lines. Product specialists are particularly prevalent in casualty lines given the expertise required to underwrite longer-tailed lines. “.
Trean Insurance Group was founded in 2020 and has 240 employees. The company is located at 150 Lake Street West, Wayzata, MN 55391, US and can be reached via phone at (952) 974-2200 or on the web at http://www.trean.com.
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