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

BRP Group, Inc. (NASDAQ: BRP) has nominated Sathish Muthukrishnan, currently Chief Information, Data and Digital Officer at Ally Financial, for election to its Board of Directors during the Annual Meeting set for June 5, 2023. Muthukrishnan's extensive experience in digital transformation is expected to aid BRP's growth as an insurance advisory firm. Phil Casey, a board member since BRP's IPO and Audit Committee Chair, will retire at the same meeting. The leadership transition has been framed positively, with both the Chairman and CEO expressing confidence in Muthukrishnan's capabilities to enhance BRP's strategic goals. The firm serves over 1.2 million clients globally, leveraging innovative risk management and insurance approaches.

BRP Group, Inc. (NASDAQ: BRP) has released its second annual Directors and Officers (D&O) Benchmarking Report, indicating a significant decline in D&O insurance premiums for 2022. The report reveals that Nasdaq-listed public companies experienced an average decrease of 20% in their primary D&O insurance costs, with recent IPOs and DeSPACs witnessing an even steeper 28% reduction. Notably, over 75% of surveyed companies reported flat or decreased premiums. However, 25% of participants opted to lower their overall coverage limits, reflecting changing risk management strategies. Key sectors such as Healthcare and Technology reported the largest premium decreases, exceeding 30%.

Total Expert, a CRM and customer engagement platform, is enhancing marketing processes for insurance agencies and brokerages. By leveraging real-time consumer behavior data, insurers can automate outbound marketing and personalize client communication. The platform has already proven effective, with Guided Insurance Solutions, a subsidiary of Baldwin Risk Partners Group (NASDAQ: BRP), identifying significant new leads shortly after deployment. As Total Expert expands into insurance, they have appointed Ilya Filipov as general manager to lead this growth. The platform aims to address common struggles faced by financial institutions, enhancing customer engagement.

BRP Group, Inc. (NASDAQ: BRP), an independent insurance distribution firm, will release its first-quarter 2023 financial results on May 9, 2023, after market close. A conference call to discuss these results is scheduled for 5:00 PM ET, with dial-in options available for both toll-free and international participants. Interested parties can also access a live webcast via the company's investor relations website. BRP Group provides tailored insurance solutions and risk management insights to over 1.2 million clients across the U.S. and internationally, emphasizing a holistic approach to client needs.

BRP Group, Inc. (NASDAQ: BRP) reported robust financial results for Q4 and full year 2022. Q4 revenue surged 55% YoY to $246 million, with organic growth of 26%. Full year revenue increased 73% YoY to $980.7 million, while organic growth stood at 23%. Despite these gains, the company recorded a GAAP net loss of $91.5 million for Q4 and $76.7 million for the year. Adjusted net income for Q4 was $14.4 million, reflecting an adjusted EBITDA of $39.2 million, a 94% increase. As of December 31, 2022, BRP had $118 million in cash and $1.3 billion in outstanding debt, with $95 million available for borrowing.

BRP Group, Inc. (NASDAQ: BRP) announced that Brad Hale, CFO, and Kris Wiebeck, Chief Strategy Officer, will attend the Raymond James Institutional Investors Conference on March 7, 2023, at 3:25 PM Eastern Time. Investors can access a live webcast of the event through the investor relations section of the Company’s website, which will also host a replay after the conference. As an independent insurance distribution firm, BRP Group provides tailored insurance solutions and risk management insights to over 1.2 million clients across the U.S. and internationally.