BRP Group, Inc. Announces Promotions for Co-Founders of Millennial Specialty Insurance (BRP Group’s “MGA of the Future”)

Rhea-AI Summary

BRP Group, Inc. (NASDAQ: BRP) has announced the promotions of co-founders Jim Roche and Brian Schultz, effective October 4, 2021. Roche will become Chief Insurance Innovation Officer, focusing on insurance product and technological innovation. Schultz will serve as President of MSI Multifamily and Emerging Markets, leading the growth of MSI's Multifamily product suite. CEO Trevor Baldwin expressed confidence in their leadership and vision for continued growth and innovation within the company.

Positive

• Promotion of Jim Roche to Chief Insurance Innovation Officer is expected to enhance product and tech innovation.
• Brian Schultz's new role as President aims to expand MSI's Multifamily product suite and drive new product creation.

Negative

• None.

TAMPA, Fla., Oct. 04, 2021 (GLOBE NEWSWIRE) -- BRP Group, Inc. (“BRP Group”) (NASDAQ: BRP), an independent insurance distribution firm delivering tailored insurance solutions, is pleased to announce promotions for Jim Roche and Brian Schultz, both Co-Founders and Managing Partners of Millennial Specialty Insurance, LLC (“MSI,” also referred to as BRP Group’s “MGA of the Future” platform), each effective as of October 4, 2021.

Jim Roche will be promoted to the newly-created role of Chief Insurance Innovation Officer, in which he will be joining BRP Group’s leadership team. In this role, Jim will be responsible for driving continued insurance product and technological innovation both within MSI and across BRP Group more broadly.

Brian Schultz will be promoted to the newly-created role of President, MSI Multifamily and Emerging Markets. In this role, Brian will be responsible for driving continued growth of MSI’s Multifamily product suite, and for creation and execution of new MGA products to be distributed both within BRP Group’s internal distribution network and with external distribution partners.

“I am excited to announce that Jim and Brian, both co-founders of the MGA of the Future, are expanding their roles in continuing to transform our business and the industry,” said Trevor Baldwin, BRP Group’s Chief Executive Officer. “Their vision and leadership have resulted in fantastic results for the MGA, and their new roles are evidence of our continued focus and vision for growth and innovation within our MGA business and across BRP Group.”

“Despite all the success we’ve had in less than three years since joining BRP Group, we’re even more excited about the position we find ourselves in today and the opportunity that exists to continue our growth trajectory via tech-enablement and innovation,” added Mr. Roche.

ABOUT BRP GROUP, INC.

BRP Group, Inc. (NASDAQ: BRP) is an independent insurance distribution firm delivering tailored insurance and risk management insights and solutions that give our clients the peace of mind to pursue their purpose, passion and dreams. We are innovating the industry by taking a holistic and tailored approach to risk management, insurance and employee benefits, and support our clients, Colleagues, Insurance Company Partners and communities through the deployment of vanguard resources and capital to drive our growth. BRP Group represents over 700,000 clients across the United States and internationally. For more information, please visit www.baldwinriskpartners.com.

NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which represent BRP Group’s expectations or beliefs concerning future events. Forward-looking statements are statements other than historical facts and may include statements that address future operating, financial or business performance or BRP Group’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may”, “might”, “will”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “projects”, “potential”, “outlook” or “continue”, or the negative of these terms or other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements.

Factors that could cause actual results or performance to differ from the expectations expressed or implied in such forward-looking statements include, but are not limited to, those described under the caption “Risk Factors” in BRP Group’s Annual Report on Form 10-K for the year ended December 31, 2020, and BRP Group’s other filings with the SEC, which are available free of charge on the Securities and Exchange Commission's website at: www.sec.gov, including those risks and other factors relevant to BRP Group’s business, financial condition and results of operations of BRP Group and factors related to the potential effects of the COVID-19 pandemic on BRP Group’s business, financial condition and results of operations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to BRP Group or to persons acting on behalf of BRP Group are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and BRP Group does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law.

CONTACTS

INVESTOR RELATIONS

Bonnie Bishop, Executive Director
Baldwin Risk Partners
(813) 259-8032 | IR@baldwinriskpartners.com

PRESS

Rachel DeAngelo, Communications Manager
Baldwin Risk Partners
(813) 387-6842 | rdeangelo@baldwinriskpartners.com

FAQ

What are the new roles announced for BRP Group's co-founders?

Jim Roche has been promoted to Chief Insurance Innovation Officer, while Brian Schultz is now President of MSI Multifamily and Emerging Markets.

When did the promotions for Jim Roche and Brian Schultz take effect?

The promotions took effect on October 4, 2021.

What is the focus of Jim Roche's new role at BRP Group?

Roche will focus on driving insurance product and technological innovation across BRP Group.

How will Brian Schultz's role benefit MSI Multifamily?

Schultz will work on growing MSI's Multifamily product suite and creating new MGA products.

What did the CEO of BRP Group say about the promotions?

CEO Trevor Baldwin expressed excitement about Roche and Schultz's expanded roles, highlighting their vision and leadership in transforming the business.