Davis Polk advised the joint book-running managers and representatives of the underwriters in connection with the $160 million initial public offering of 10,714,286 shares of common stock by Trean Insurance Group, Inc. and certain of its stockholders. The common stock is listed on the Nasdaq Global Select Market under the symbol “TIG.”
Founded in 1996 and headquartered in Wayzata, Minnesota, Trean provides insurance products and services focused on specialty casualty lines. Trean targets a diversified portfolio of small- to mid-sized programs that focus on niche segments of the specialty casualty insurance market, with a core expertise in workers’ compensation. Licensed to write business across 49 states and the District of Columbia, Trean underwrites its specialty casualty insurance products through programs where it partners with other organizations and through its own managing general agencies.
The Davis Polk capital markets team included partners Richard D. Truesdell Jr. and Shane Tintle and associates Yoojin Nairn-Kim, Amanda Rae Schwarzenbart and Moses Farzan Nekou. Counsel Marcie A. Goldstein provided FINRA advice. The tax team included partner Mario J. Verdolini and associate Sunny Kim. All members of the Davis Polk deal team are based in the New York office.