MILLENNIAL SPECIALTY INSURANCE, LLC WELCOMES ADAM FALKAUFF AS PRESIDENT OF MULTIFAMILY

Rhea-AI Summary

BRP Group, Inc. (NASDAQ: BRP) announced the appointment of Adam Falkauff as President of its Multifamily Group at Millennial Specialty Insurance (MSI) on Sept. 8, 2022. Falkauff brings extensive experience in renters insurance, having previously served at RealPage and Liberty International Underwriters. His role will focus on improving products and technology delivery within the rapidly growing renters insurance division. This strategic move is expected to enhance MSI's growth trajectory and operational efficiency.

Positive

• Appointment of Adam Falkauff as President of Multifamily Group to drive growth in renters insurance solutions.
• Falkauff's extensive experience in insurance is expected to improve product delivery and client outcomes.

Negative

• None.

TAMPA, Fla., Sept. 8, 2022 /PRNewswire/ -- Millennial Specialty Insurance, LLC ("MSI"), an indirect subsidiary of BRP Group, Inc. ("BRP Group") (NASDAQ: BRP), is pleased to welcome Adam Falkauff as President of MSI's Multifamily Group, which includes MSI's rapidly growing suite of renters insurance solutions.

With a diverse and successful career in insurance, Adam brings extensive experience in both multi- and single-family renters, master tenant legal liability and security deposit alternative programs.  He has deep knowledge of these products, as well as the technology and services required to optimize them for partners and insureds.

Most recently, Adam served as the Senior Vice President of Insurance and Security Deposit Alternatives at RealPage, one of the largest property management software providers in the U.S.  Prior to RealPage, Adam was the Director of Process & Continuous Improvement at Liberty International Underwriters, a Liberty Mutual Company. 

"I am thrilled to announce that Adam Falkauff has joined the MSI team, and for the impact we believe his wealth of knowledge, experience and industry relationships will have on our clients and business. In this leadership role, Adam will work closely with our software provider and property management partners to continue to improve our products, technology delivery, and compliance/tracking solutions as we seek to maintain and enhance our industry-leading execution and growth trajectory in the space," said Jim Roche, Chief Insurance Innovation Officer of BRP Group.

A native of Minneapolis, Minnesota, Adam currently lives in Dallas, Texas, and serves as a Board member of the Young Texans of the American Cancer Society. He is a graduate of the University of Michigan and completed his law degree at New York Law School. 

ABOUT BRP GROUP

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 Millennial Specialty Insurance, LLC ("MSI")

FAQ

Who is Adam Falkauff and what is his new role at BRP Group?

Adam Falkauff has been appointed as President of the Multifamily Group at Millennial Specialty Insurance, focusing on renters insurance solutions.

What impact is Adam Falkauff expected to have on BRP Group's business?

Falkauff is expected to enhance product delivery and operational efficiency in the renters insurance segment, contributing to MSI's growth.

When was Adam Falkauff appointed at BRP Group?

Adam Falkauff was appointed on September 8, 2022.

What is Millennial Specialty Insurance's focus area?

Millennial Specialty Insurance focuses on providing renters insurance solutions, particularly in the multifamily housing sector.

What are some previous roles held by Adam Falkauff?

Before joining MSI, Adam Falkauff served as Senior Vice President at RealPage and held a director position at Liberty International Underwriters.