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The Baldwin Insurance Group, Inc. (symbol: BRP) is a dynamic insurance distribution holding company focused on both organic and acquisitive growth within the insurance sector. The company's strategy revolves around managing resources and capital effectively to expand its footprint and enhance its service offerings.
Core Business and Operations:
Under the umbrella of BRP, various member companies such as Baldwin Krystyn Sherman Partners, The Villages Insurance Partners, Medicare Insurance Partners, and others contribute to a diverse portfolio. These member companies help BRP extend its geographical reach and offer a wide array of insurance solutions. The firm's core focus includes risk management, employee benefits, and tailored insurance solutions. BRP serves over two million clients across the United States and internationally, ensuring that customers receive personalized and effective risk management strategies.
Recent Achievements and Projects:
One of the notable recent developments for BRP is the collaboration between Juniper Re, its reinsurance broking arm, and ICEYE. Announced on April 25, 2024, this partnership leverages ICEYE's Flood and Wildfire Insights data, enabling Juniper Re's clients to access near real-time observed data on large-scale events. This innovation aids in quick decision-making and loss mitigation, significantly enhancing client service in times of natural disasters.
Financial Condition and Partnerships:
BRP boasts a financially robust position, fueled by both its strategic acquisitions and the organic growth of its member companies. Partnerships with industry leaders like ICEYE underscore its commitment to integrating advanced technologies to provide superior service. Such collaborations are essential in maintaining BRP's edge in the competitive insurance market.
Innovation and New Lines of Insurance Competency: BRP is committed to continuous innovation and the introduction of new insurance lines. Through its member companies and strategic investments, BRP is expanding its capabilities to include various insurance segments such as Medicare options, home insurance, and reinsurance broking.
For more information, visit www.baldwinriskpartners.com
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.
BRP Group has increased the capacity of its senior revolving credit facility from $475 million to $600 million. This expansion comes as BRP's subsidiary, Baldwin Risk Partners, LLC, aims to support its acquisition of Westwood Insurance Agency. The facility's maturity has been extended to April 1, 2027, with adjusted financial covenants to increase leverage to 7.0x EBITDA. The syndicate includes J.P. Morgan Securities LLC and new partners like Morgan Stanley and Raymond James Bank, indicating strong lender confidence in BRP's business growth.
BKS Partners, a subsidiary of BRP Group (NASDAQ: BRP), has entered into a strategic partnership with Positive Physicians Insurance Company to provide tailored Medical Professional Liability programs in Florida. This collaboration aims to enhance liability insurance options for physician groups, focusing on competitive pricing and effective risk management. Positive Physicians, known for its concierge approach to medical liability, is excited about this expansion into the Florida market. BKS Partners brings extensive expertise in medical liability solutions, aiming to address rising costs faced by healthcare providers.
BRP Group has announced the acquisition of Westwood Insurance Agency, marking its largest partnership to date with approximately
BRP Group reported exceptional financial results for the fourth quarter and full year 2021. Revenue soared 129% year-over-year to $159.2 million in Q4, with full-year revenue increasing 135% to $567.3 million. Organic revenue growth was 18% for Q4 and 22% for the year. Despite a GAAP net loss of $44.4 million in Q4, adjusted net income surged 118% to $11.7 million. The company completed six acquisitions in Q4, totaling a pre-acquisition revenue of $133.7 million. BRP Group retains strong liquidity with $138.3 million in cash and $440.0 million available under its credit facility.
BRP Group, Inc. (NASDAQ: BRP) has partnered with Nasdaq to release a Directors & Officers (D&O) Limits Benchmarking report, showcasing data from over 330 Nasdaq companies. The report reveals a 20% average premium increase for D&O liability coverage over the past year, with IPO companies facing premiums 3.2 times higher than non-IPO firms. Notably, less than 7% of companies reduced their limits despite rising rates, and nearly 87% secured A-Side coverage. This collaboration aims to provide companies with objective data on D&O insurance costs and limits.
BRP Group, Inc. (NASDAQ: BRP), an independent insurance distribution firm, announced participation in the Raymond James Institutional Investor Conference on March 8, 2022, at 1:05 PM Eastern Time. CEO Trevor Baldwin and CFO Brad Hale will engage in a fireside chat. Investors can access the live webcast through the investor relations section of the company’s website.
BRP Group offers tailored insurance solutions and represents over 700,000 clients in the U.S. and internationally, focusing on risk management and employee benefits.
BRP Group, Inc. (NASDAQ: BRP) has announced the promotion of Seth Cohen to General Counsel and Corporate Secretary, effective January 31, 2022. Cohen, who joined BRP Group in February 2020, will oversee the company's legal, compliance, and regulatory functions. CEO Trevor Baldwin highlighted Cohen's extensive experience and leadership skills as assets for the firm's growth. Previously, Cohen held senior legal positions at Savills North America and Cisco Systems. BRP Group is committed to delivering tailored insurance solutions and risk management insights to over 700,000 clients worldwide.
BRP Group, Inc. (NASDAQ: BRP) will announce its fourth quarter 2021 financial results on March 1, 2022, after market close. A conference call will follow at 5:00 PM ET, with dial-in options available for participants. Investors can also access a live webcast on BRP's investor relations website. The company offers tailored insurance solutions to over 700,000 clients in the U.S. and globally, focusing on innovation and risk management.
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