Welcome to our dedicated page for The Baldwin Insurance Group news (Ticker: BRP), a resource for investors and traders seeking the latest updates and insights on The Baldwin Insurance Group stock.
The Baldwin Insurance Group, Inc. (BRP) provides strategic insurance solutions through its network of specialized companies. This news hub delivers official updates and market insights for stakeholders tracking BRP's industry leadership in risk management and insurance distribution.
Access timely reports on corporate milestones including earnings announcements, strategic acquisitions, and technology partnerships that shape BRP's growth trajectory. Our curated collection features press releases spanning Medicare program developments, reinsurance innovations, and operational expansions across BRP's portfolio companies.
Monitor critical updates on capital allocation strategies, leadership appointments, and data-driven risk assessment initiatives that underscore BRP's market position. This resource serves investors and industry professionals seeking comprehensive coverage of BRP's insurance distribution ecosystem.
Bookmark this page for continuous access to verified information about BRP's market activities. Check regularly for updates reflecting the company's commitment to advancing insurance solutions through strategic investments and technological integration.
BRP Group has announced a significant partnership agreement to acquire substantially all assets of Jacobson, Goldfarb & Scott, Inc. (JGS), a leading specialty insurance broker with a focus on the habitational real estate sector. This transaction, set to close around October 1, 2021, will add approximately $43.3 million in annual revenue, marking BRP's largest partnership announcement in 2021. JGS has a proven track record of 30% year-over-year revenue growth and enhances BRP Group’s capabilities in key markets.
BRP Group has announced its acquisition of White Hill Plaza, Inc. (K&S Insurance Agency) for $19.7 million, enhancing its position in the construction market. This deal marks BRP's eleventh partnership in 2021, bringing its total partnership revenue to $92 million year-to-date. K&S specializes in risk management and benefits solutions, contributing significant growth potential in Texas's rapidly expanding construction sector. Expected to close by October 1, 2021, this acquisition aligns with BRP’s strategic goals and operational footprint in key metropolitan areas.
BRP Group reported a 133% revenue increase year-over-year to $119.7 million for Q2 2021, with organic revenue growth at 32%. The company recorded a GAAP net loss of $20.1 million, but adjusted net income stood at $13.3 million, or $0.14 per share. Adjusted EBITDA rose to $20.4 million, a 143% growth from the previous year. The company closed three partner acquisitions contributing approximately $4.6 million in revenue. As of June 30, 2021, cash and equivalents totaled $224.5 million, and long-term debt was $483 million.
BRP Group, Inc. (NASDAQ: BRP) has successfully completed acquisitions of FounderShield LLC, AlphaRoot LLC, ReShield LLC, Scale Underwriting Services LLC, and TCG Financial Holding Company, LLC. These partnerships aim to enhance BRP's insurance distribution capabilities. To incentivize new employees, BRP plans to issue restricted shares of Class A Common Stock, with grants scheduled for October 1, 2021. The cash payments to the acquired firms have been adjusted to account for these grants.
BRP Group, Inc. (NASDAQ: BRP) has announced the acquisition of EBSME, LLC, a Maryland-based insurance agency specializing in ancillary benefit solutions. This strategic move enhances BRP's capabilities in the insurance market, leveraging EBSME's expertise and client base. EBSME has generated annual revenues of approximately $1.2 million, which is expected to contribute positively to BRP's growth. The partnership allows for better consultation services and access to a broader range of employee benefits for clients.
BRP Group has announced its acquisition of TCG Financial Holding Company, enhancing its presence in the D.C. Metro area. This partnership adds $12.1 million in revenue and brings BRP Group’s total revenue from 2021 partnerships to $69 million. The Capital Group has shown a strong growth trajectory with 19% year-over-year revenue growth in 2020. The acquisition is expected to close by August 1, 2021 and aims to bolster employee benefits, wealth advisory, and retirement plan consulting services.
BRP Group announced its acquisition of Founder Shield, a digital insurance platform, on July 23, 2021. This strategic partnership is expected to add approximately $9.8 million in annual revenue to BRP Group, increasing its total from 2021 partnerships to $57 million. Founder Shield, with a year-to-date revenue growth of 53%, enhances BRP Group's capabilities in high-growth industries such as Technology and Life Sciences. The acquisition is set to close around August 1, 2021, and will strengthen BRP Group's technological offerings and operational efficiency.
BRP Group, Inc. (NASDAQ: BRP) announced the release of its second quarter 2021 financial results scheduled for August 9, 2021, after market close. The company will host a conference call to discuss these results at 5:00 PM ET on the same day. Investors can join by dialing (877) 451-6152 for domestic or (201) 389-0879 for international participation, with a 10-minute pre-call requirement. A live webcast will also be available on BRP's investor relations website, with a replay accessible for one year post-call.
BRP Group, Inc. (NASDAQ: BRP) has completed the acquisition of RogersGray, Inc., Breakwater Brokerage, LLC, and Monomoy Insurance Group, LLC, through its subsidiaries BKS-Partners and MSI. The deal is part of BRP Group's strategy to expand its operations. As part of this, the Company will issue 79,162 restricted shares to 211 new employees, set to vest fully after three years, which will lower the upfront cash payment to RogersGray. This initiative aims to motivate employees and enhance performance.
BRP Group, Inc. (NASDAQ: BRP), an independent insurance distribution firm, announced that Kris Wiebeck, Chief Strategy Officer, will participate in a panel discussion at the BofA Securities InsurTech Conference on June 30, 2021, at 12:35 PM Eastern Time. The topic of the discussion is 'The Future of Insurance Distribution.' Interested parties can access a live webcast through the investor relations section of the Company's website, with a replay available afterward. BRP represents over 600,000 clients, providing tailored insurance solutions and risk management insights.
