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

BRP Group, Inc. (NASDAQ: BRP) announced that its subsidiary, Baldwin Risk Partners, LLC, is seeking to amend its credit agreement for an additional $250 million in term loans. This amendment would raise the total from $500 million to $750 million, aiding in repaying existing revolving credit loans and funding corporate activities, including permitted acquisitions. The transaction is subject to market conditions, and there is no guarantee it will proceed as planned.

BRP Group, Inc. (NASDAQ: BRP) has successfully completed the acquisitions of Construction Risk Partners, LLC (CRP) and Wood Gutmann & Bogart Insurance Brokers (WGB). To incentivize new employees, BRP will issue restricted shares of Class A Common Stock as part of its Partnership Inducement Award Plan. A total of 256,751 shares will be granted to 77 employees from CRP, and 276,183 shares will go to 115 employees from WGB, with specific vesting terms. These acquisitions will support BRP's growth strategy and enhance its market position.

BRP Group, Inc. (NASDAQ: BRP) will have its Chief Strategy Officer, Kris Wiebeck, and Chief Financial Officer, Brad Hale, participate in a fireside chat at the inaugural Wolfe Research Insurance Forum on December 2, 2021, at 1:15 PM ET. The event provides an opportunity for participants to gain insights into the company's strategies and operations. Registration for the discussion is available online, with a replay accessible post-conference. BRP Group serves over 700,000 clients in the U.S. and internationally.

BRP Group has announced its agreement to acquire Brush Creek, LLC, enhancing its portfolio in the Cyber and Technology sectors. This transaction is projected to generate approximately $3.3 Million in revenue, boosting BRP Group's total revenue from 2021 partnerships to $201 Million. The partnership, which is set to close on December 7, 2021, aims to leverage Brush Creek's 44% year-over-year revenue growth and expertise in serving middle-market clients across high-growth industries.

BRP Group (NASDAQ: BRP) announces the acquisition of Construction Risk Partners (CRP), enhancing its National Construction Risk Management Platform. This strategic partnership is expected to close around December 1, 2021, and will add approximately $32.6 million in revenue, marking BRP's seventh 'Top 100' partnership since Q4 2020. With CRP's strong growth track record, achieving 31% year-over-year revenue growth YTD 2021, the acquisition positions BRP for increased influence in the construction market.

BRP Group, Inc. (NASDAQ: BRP) has appointed Rajasekhar (Raj) Kalahasthi as the new Chief Digital & Information Officer, effective November 15, 2021. Mr. Kalahasthi has over two decades of IT leadership experience, previously serving as Chief Information Officer at Comerica Bank and leading technology teams at major corporations like HSBC and Citibank. His role will focus on enhancing enterprise technology and driving innovation at BRP Group. The leadership praises his extensive experience, which aligns with the company’s strategic goals and vision for the future.

BRP Group reported a remarkable 106% year-over-year revenue growth for Q3 2021, reaching $135.6 million. Pro Forma Revenue also saw a 109% increase to $137.8 million, with organic growth of 26%. The 'MGA of the Future' platform grew 48% year-over-year. Despite a GAAP net loss of $24.2 million, adjusted net income was $11.5 million, translating to $0.11 per diluted share. The company closed five partner acquisitions during Q3 and maintained a strong liquidity position with $374.5 million in cash as of September 30, 2021.

BRP Group has announced its agreement to acquire substantially all assets of Wood Gutmann & Bogart Insurance Brokers for $29.7 million. This will add $29.7 million in revenue, bringing the total from 2021 partnerships to $165 million. The acquisition is expected to close around December 1, 2021. WGB, based in Tustin, California, is recognized as a top independent property/casualty agency, enhancing BRP's West Coast operations and creating a top 3 broker in Los Angeles. The partnership aligns expertise in commercial risk management and employee benefits.

BRP Group has officially launched Atténuer Risk, a new risk and resiliency consulting firm focused on families of exceptional wealth, family offices, and advisory firms. This independent entity will offer services including outsourced risk management, broker review, and resiliency planning. Led by Kate Norris, who has over 25 years of industry experience, Atténuer Risk aims to address the unique risk challenges faced by wealthy families. This move expands BRP Group's service offerings without directly selling insurance or managing assets.