AM Best Comments on Credit Ratings of Trean Insurance Group, Inc. Following Announced Merger Agreement
AM Best has commented that the Credit Ratings (ratings) of the members of Benchmark Insurance Group (BIG) and its ultimate parent, Trean Insurance Group, Inc. (Delaware) (Trean Insurance) (NASDAQ:TIG), remain unchanged following an announced merger agreement with affiliates of Altaris, LLC. (Altaris).
BIG is comprised of Benchmark Insurance Company (headquartered in Wayzata, MN), Benchmark Specialty Insurance Company (Little Rock, AR), American Liberty Insurance Company (Provo, UT) and 7710 Insurance Company (Summerton, SC).
Altaris currently owns approximately 47% of Trean's outstanding common stock. Under the terms of the merger agreement, Altaris will acquire the remaining common stock
