Trean Insurance Group, a specialty casualty insurer in the US, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Trean Insurance underwrites specialty casualty insurance products both through programs where it partners with other organizations and also through its own managing general agencies. The company is licensed to write business across 49 states and the District of Columbia, with a focus on California, Michigan, and Arizona.
The Wayzata, MN-based company was founded in 1996 and booked $111 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol TIG. Trean Insurance Group filed confidentially on February 11, 2020. J.P. Morgan, Evercore ISI, and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.
