Trean Insurance Group, a provider of products and services to the specialty insurance market, and Beat Capital Partners America, a long-duration investor specializing in the insurance industry, have announced a partnership in the surplus lines insurance market.
Through its recently formed subsidiary, Benchmark Specialty Insurance Company, Trean will offer E&S products through its partnership with Beat. The agreement marks Trean’s first partnership in the large non-admitted insurance underwriting market. In turn, newly established Beat-backed agencies will have access to Benchmark Specialty’s AM 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 US,” said Julie Baron, CEO 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.”
“I have known the Trean leadership for decades and am incredibly pleased to partner with them as we accelerate Beat’s expansion in the US,” said John Cavanagh, co-founder of Beat. “The ability for Beat-backed US 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 US for entrepreneurial underwriters.”