CONSTRUCTION RISK PARTNERS WELCOMES SARAH SHEPARD MCGUINNESS AS PARTNER

Rhea-AI Summary

BRP Group announced the addition of Sarah Shepard McGuinness as a Partner at its subsidiary, Construction Risk Partners (CRP), on October 6, 2022. McGuinness will lead CRP's new Real Estate Practice, enhancing the firm's risk advisory and brokerage services for the real estate sector. She has a robust background in risk management consulting for property owners and developers, having overseen insurance for over $9B in construction loans. This strategic hire aims to retain construction clients beyond project completion, broadening CRP's capabilities.

Positive

• Sarah Shepard McGuinness brings extensive experience in risk management consulting, enhancing CRP's capabilities.
• Her leadership role will help CRP to provide specialized real estate risk advisory services.
• The addition is expected to strengthen client retention post-construction.

Negative

• None.

BOSTON, Oct. 6, 2022 /PRNewswire/ -- Construction Risk Partners (CRP), an indirect subsidiary of BRP Group, Inc. ("BRP Group" or the "Company") (NASDAQ: BRP), is pleased to announce the addition of Sarah Shepard McGuinness to the team as a Partner.

Mrs. Shepard McGuinness will be CRP's new Real Estate Practice Leader. She will be responsible for building out a specialized real estate practice to complement CRP's existing construction expertise, positioning CRP to provide comprehensive risk advisory and brokerage services to the real estate industry. She brings a diverse background to the firm, having spent her career providing risk management consulting services to property owners, managers, developers, and lenders nationwide. She is experienced in property and casualty insurance for both development and operational real estate across all asset classes and brings to CRP a holistic view of managing real estate risk. 

Mrs. Shepard McGuinness most recently served as Senior Vice President (SVP) at one of the nation's leading risk management consulting firms. In addition to her role as Director of the firm's lender advisory division, she was the Senior Consultant to several REITS and large development clients. She and her team oversaw insurance and risk management for their client base, advised on hundreds of transactions, and helped close over $9B in construction loans.

"Sarah's background and experience in managing risks associated with stabilized real estate assets adds an entirely new skill set to CRP and will allow present construction clients to remain clients of CRP post-construction and beyond," said Andy O'Brien, Partner, Construction Risk Partners. "Sarah has been a friend of CRP for quite some time; we know she aligns well with our culture, and we are incredibly excited to have her join our team."

"I look forward to embarking on the next chapter of my career with CRP, acting as a resource for CRP's colleagues and clients while augmenting and broadening the firm's present capabilities. Our new organizational structure will provide our clients a constant broker partnership for the full scope of their real estate insurance needs, through the entire lifecycle of their ownership. I am thrilled by this opportunity," said Mrs. Shepard McGuinness.

ABOUT CONSTRUCTION RISK PARTNERS

Construction Risk Partners is the leading specialist broker for owners, developers, general contractors, engineers, and subcontractors that need to mitigate financial risks related to construction activity. Our expertise and specialization in construction allows us to tailor our financial products and services to align perfectly. We offer insurance, surety, bonding, default insurance as well as our industry's most respected Loss Prevention and Wrap-Up services. Learn more at www.constructionriskpartners.com.

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 1,200,000 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, 2021 and in 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 the business, financial condition and results of operations of BRP Group. 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.

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SOURCE Construction Risk Partners

FAQ

Who is Sarah Shepard McGuinness in relation to BRP?

Sarah Shepard McGuinness has been appointed as a Partner at Construction Risk Partners, a subsidiary of BRP Group.

What is the role of Sarah Shepard McGuinness at CRP?

She will serve as the Real Estate Practice Leader, focusing on real estate risk advisory and brokerage services.

When was the announcement about Sarah McGuinness made?

The announcement was made on October 6, 2022.

How will Sarah McGuinness impact Construction Risk Partners?

Her experience is expected to enhance CRP's risk management services, particularly for the real estate industry.

What financial impact could McGuinness's appointment have on BRP?

Her addition aims to improve client retention and potentially increase revenue through expanded services.