The Baldwin Insurance Group, Inc. Stock Price, News & Analysis

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.

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 $81.8 million in revenue. This acquisition enhances BRP's portfolio in builder-sourced homeowners insurance and brings a proven growth track record, including a 10% year-over-year revenue growth in 2021. Additionally, a separate agreement with a QBE affiliate is set to add around $200 million in premium to BRP's Millennial Specialty Insurance platform, solidifying its market position.

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.