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 (NASDAQ: BRP) announced the completion of acquisitions of Burnham Benefits Insurance Services, LLC and Burnham Gibson Wealth Advisors, LLC, as well as Tanner, Ballew & Maloof, Inc. by its subsidiary BKS Partners. This strategic move is expected to enhance BRP's presence in the middle-market insurance sector, expanding its service offerings and client base. The acquisitions align with BRP's growth strategy and are poised to create synergies that could lead to increased revenue opportunities.
BRP Group has announced the acquisition of Tanner, Ballew & Maloof, Inc., enhancing its presence in the rapidly growing Atlanta market. This strategic partnership is expected to close on December 31, 2020, adding approximately $10.7 million in annualized revenues and bringing total annualized revenues from 2020 partnerships to $236 million. TBM, with nearly 28 years of experience and expertise in commercial insurance, will bolster BRP's capabilities in multi-family real estate and other sectors.
BRP Group, Inc. (NASDAQ: BRP) announced a public offering of 8,750,000 shares of its Class A common stock priced at $29.50 each, with a potential additional purchase of 1,312,500 shares by underwriters. The offering is set to close on December 11, 2020. Proceeds will contribute to purchasing membership interests in Baldwin Risk Partners, LLC, cover offering expenses, and support working capital and partnerships. The company plans to buy LLC Units from key executives and affiliated entities, enhancing its operational capacity and growth potential.
BRP Group, Inc. (NASDAQ: BRP) announced a proposed underwritten public offering of shares of its Class A common stock. The net proceeds will be used to purchase membership interests from Baldwin Risk Partners, LLC, covering expenses related to the offering and for general corporate purposes. Additionally, BRP expects to close Partner acquisitions in 2021, generating annualized revenue between $120 million and $150 million, mainly in the latter half of the year. Major underwriters include J.P. Morgan and BofA Securities.
BRP Group has announced the acquisition of Burnham Benefits Insurance Services and Burnham Gibson Wealth Advisors, adding approximately $52.6 million in annualized revenues, one of their largest partnerships to date. This partnership enhances BRP Group's presence in Southern California, notably in key metropolitan areas like Los Angeles and San Francisco. With a strong track record of 25% year-over-year revenue growth in 2020, Burnham is set to significantly contribute to BRP's total annualized revenues of $225 million from 2020 partnerships. The deal is expected to close on December 31, 2020.
BRP Group has announced the acquisition of Armfield, Harrison & Thomas (AHT), enhancing its annualized revenues by approximately $52.3 million. This marks BRP's largest partnership to date and extends its reach into the Pacific Northwest, Mid-Atlantic, and Northeast regions. AHT specializes in various high-growth sectors such as Technology and Life Sciences, increasing BRP's total annualized revenues from 2020 partnerships to $173.2 million. AHT's CEO, David Schaefer, will continue in a leadership role within BRP Group.
BRP Group, Inc. (NASDAQ: BRP) has successfully completed the acquisition of Insgroup, Inc. through its subsidiary, Baldwin Krystyn Sherman Partners, LLC (BKS). This strategic move aims to enhance BRP's independent insurance distribution capabilities. The deal's completion reflects BRP's commitment to innovation in the insurance industry, expanding its service offerings, and enhancing risk management solutions for clients. The acquisition is expected to fuel further growth opportunities, aligning with BRP's objective of delivering comprehensive insurance solutions.
BRP Group reported a robust third-quarter performance for 2020, with revenues soaring by 72% year-over-year to $65.8 million. This growth was complemented by a 20% organic revenue increase. Their 'MGA of the Future' policies in force surpassed 500,000, marking a significant achievement. Despite a GAAP net loss of $7.6 million, adjusted net income was $9.0 million. The company boasts strong liquidity with $50.2 million in cash and a new $800 million credit facility. This positions BRP to continue its growth trajectory into 2021.
BRP Group has announced its acquisition of Insgroup, Inc., a Houston-based insurance provider, for a partnership expected to add approximately $38.5 million in annual revenues. This marks BRP Group’s largest partnership to date. Insgroup, which achieved a 31% revenue growth year-over-year in 2019, enhances BRP’s market presence in Texas, particularly in the fast-growing Houston area. The deal is set to close on November 30, 2020, and the acquisition is part of BRP Group’s strategy to expand its operations and client services.
BRP Group, Inc. (NASDAQ: BRP) announced it will release its third quarter 2020 financial results on November 12, 2020, after market close. A conference call will follow at 5:00 PM ET, accessible via dial-in at (877) 451-6152 toll-free or (201) 389-0879 international. Investors can also listen through a live webcast on BRP's investor relations website. Moreover, a replay of the call will be available for one year post-event. BRP specializes in insurance distribution, serving over 500,000 clients across the globe.
