Trean Insurance Group (TIG) Appoint Philip I. Smith to its Board

Trean Insurance Group, Inc. (Nasdaq: TIG), a leading provider of products and services to the specialty insurance market, announced today that its Board of Directors has appointed a new independent director, Philip I. Smith, to its Board of Directors, effective immediately.

Mr. Smith brings to the Board over 25 years of experience in finance and executive management. He is currently a managing director of Duff & Phelps, an investment banking firm that provides valuation, corporate finance and other services, where he provides mergers and acquisitions advisory services. His appointment increases the size of the Board to seven members, five of whom are independent under applicable SEC and Nasdaq guidelines.

“Phil’s wealth of expertise in corporate finance and executive management – particularly his experience with public companies – will further enhance our Board and add considerable value,” said Andy O’Brien, Chief Executive Officer of Trean. “We warmly welcome Phil and look forward to working with him as we continue to grow profitably.”

Prior to joining Duff & Phelps in 2017, Mr. Smith was a Managing Director with BMO Capital Markets (formerly Greene Holcomb and Fisher) where he focused on healthcare mergers and acquisitions. Before that, he was a member of the medical device investment banking team at Piper Jaffray in Minneapolis. Early in his career, Mr. Smith served as an executive officer for a number of medical technology companies, including DGIMED Ortho, Vital Images, Thermonix and Image-Guided Neurologics. He has also served on the board of directors of Delta Dental of Minnesota, MGC Diagnostics (formerly Angeion Corp) and Intricon Corp. Mr. Smith received an MBA from the Wharton School of the University of Pennsylvania and a BS in electrical engineering from the University of Florida.

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