TIG - Trean Insurance Non-GAAP EPS of $0.16 revenue of $68.91M; issues Q2 and updates FY22 guidance

Trean Insurance press release (NASDAQ:TIG): Q1 Non-GAAP EPS of $0.16. Revenue of $68.91M (+43.4% Y/Y). Gross written premiums were $161.4 million, a $14.7 million, or 10.0%, increase compared to the same prior-year period. Net earned premiums were $64.2 million, a $23.0 million, or 56.0%, increase compared to the same prior-year period. Combined ratio was 89.6%, compared to 89.4% for the same prior-year period. Return on equity of 11.8%; adjusted return on equity of 7.9%; return on tangible equity of 24.1%; and adjusted return on tangible equity of 16.2%. The Company is updating its outlook for the full year 2022: Gross written premium is still expected to be between $655 million and $670 million; Net earned premium outlook has been raised to be between $255 million and $265 million, from the previous range of between $240 million and $250 million; Total revenue has been raised to be between $268 million and $278

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Trean Insurance Non-GAAP EPS of $0.16, revenue of $68.91M; issues Q2 and updates FY22 guidance