The Baldwin Insurance Group, Inc. - BRP STOCK NEWS

BKS Partners, a subsidiary of BRP Group, is proud to support the 2022 Special Olympics USA Games in Orlando, FL from June 5-12. With over 5,500 athletes and coaches participating, BKS Partners will volunteer as 'Fans in the Stands' on June 8-9, showcasing their commitment to this inspiring event. Kelly Nash, President of Middle Market Client Experience, expressed excitement for their involvement. The event, featuring 20 sports, highlights the spirit of inclusion and community support.

BRP Group, Inc. (NASDAQ: BRP) announced its participation in the 42nd Annual William Blair Growth Stock Conference. CEO Trevor Baldwin, CFO Brad Hale, and Chief Strategy Officer Kris Wiebeck will engage in a fireside chat on June 6, 2022, at 1:40 pm ET. Investors can access a live webcast on the company's investor relations website, with a replay available afterward. BRP Group offers tailored insurance solutions and serves over 1.2 million clients in the U.S. and abroad, emphasizing innovative risk management practices.

BRP Group reported a remarkable 59% revenue growth year-over-year for Q1 2022, reaching $242.8 million. The company achieved 16% organic revenue growth, with the 'MGA of the Future' platform growing 42% to $24.4 million. GAAP net income stood at $44.8 million ($0.39 per diluted share), while adjusted net income was $57.5 million ($0.50 per diluted share). With a strong liquidity position of $156.8 million in cash and a recent acquisition of Westwood Insurance Agency, BRP Group is poised for continued growth in 2022.

BRP Group, Inc. (NASDAQ: BRP) has successfully completed the acquisition of Westwood Insurance Agency. This strategic move is part of BRP Group's initiative to enhance its insurance distribution capabilities. In tandem with the acquisition, BRP will issue restricted shares of its Class A Common Stock to 164 new employees, totaling 128,994 shares. The Grants are designed to incentivize performance and will vest over four years. The upfront cash payment to QBE Holdings has been adjusted to reflect the value of these Grants, aligning employee interests with company success.

BRP Group, Inc. (NASDAQ: BRP) announces the appointment of Richard Tallo as Chief Marketing Officer, effective April 11, 2022. Tallo will spearhead marketing and communications strategies aimed at driving profitable growth and enhancing brand recognition. With over 20 years of experience in the insurance industry, he previously served as Executive Vice President at Chubb, overseeing North American marketing operations. BRP Group's CEO emphasized the importance of aligning marketing efforts with the company's growth strategy.

BRP Group, Inc. (NASDAQ: BRP) announced the appointment of Chris Balch as Managing Director of AHT Insurance's Commercial Risk Management Group. Balch, with over 17 years of experience in commercial risk management, previously served as Regional Vice President at The Hartford. His leadership aims to enhance client satisfaction and firm profitability. David Schaefer, Regional President of AHT Insurance, expressed excitement about Balch's client-first approach and strong industry relationships, indicating this move aligns with their growth strategy. AHT Insurance offers diverse insurance solutions across the United States.

BRP Group, Inc. (NASDAQ: BRP) announced the addition of Tim Sommer as Managing Advisor at The Capital Group's Wealth Management and Retirement Planning division on April 8, 2022. With over 28 years of experience, Sommer specializes in retirement income, estate planning, and full-service financial planning. He previously led a team at TIAA's Wealth Management Group, managing over $1.4 billion in assets. His appointment aims to enhance client-service offerings and expand The Capital Group's market presence, contributing to BRP Group's strategic growth in the financial advisory sector.

BRP Group, Inc. (NASDAQ: BRP) has introduced a Panel Counsel offering for Nasdaq-listed biotech companies, designed to lower retention costs. The initiative addresses the high premiums faced by early-stage biotech firms, which have surged in recent years. By collaborating with top securities attorneys, BRP offers a 25% reduction in retention fees when a panel attorney is selected, benefiting companies with market caps under $1B. Participating insurers, including ARCH Insurance, support this program, which aims to mitigate the financial burden of potential securities class actions.

BRP Group, Inc. (NASDAQ: BRP) announced it will release its first quarter 2022 financial results on May 10, 2022, after market close. A conference call to discuss these results is scheduled for 5:00 PM ET the same day. Participants can join via toll-free number (877) 451-6152 or international number (201) 389-0879, with a reminder to dial in 10 minutes early. A live webcast will also be available on the investor relations website, and a replay will be accessible for one year following the event.