Benchmark Holding has entered into an agreement to acquire 7710 Insurance Company and its associated program manager and agency, 7710 Service Company and Creekwood Insurance Agency.
Terms of the transaction were not disclosed.
Founded in 2014, 7710 Insurance Company is a specialty workers’ compensation insurance company and risk management programme designed by firefighters and servicing fire and and Emergency Medical Services (EMS).
The company focuses on minimising costs and claims through a proprietary safety preparedness and loss control programme, dubbed as S.H.I.E.L.D.
Benchmark Holding Company is a wholly owned subsidiary of Trean Insurance Group (TIG). Following the transaction, the acquired company will join other TIG affiliated insurance companies, American Liberty Insurance Company and Benchmark Insurance Company.
Headquartered in Minnesota, Trean Insurance Group and its affiliated companies offer insurance and reinsurance solutions.
7710 Insurance Company CEO Bill Adamson said: “We believe that being part of Trean uniquely positions 7710 to be the nationwide ‘go to’ workers’ compensation insurance partner for the emergency services industry.
“We are excited by the opportunity for our clients and colleagues that this transaction represents.”
TIG president and CEO Andy O’Brien said: “We are delighted to welcome 7710 into the Trean family. 7710’s experienced staff and specialized business model will give us even greater reach in providing exceptional services and products to underserved insurance markets.”
Oppenheimer & Co. served as exclusive financial advisor to 7710 Insurance Company.