Millennial Specialty Insurance, LLC (“MSI”), an indirect
subsidiary of BRP Group, Inc. (“BRP Group”) (NASDAQ: BRP), is now
offering comprehensive multifamily-focused insurance solutions in
Canada, including both its renters and tenant legal liability
products, marking the first time MSI is writing business outside
the United States.
Leveraging a best-in-class technology platform, MSI provides
simplified and streamlined rental insurance solutions, insuring
more than one million residential rental units in the United
States.
“This is a significant milestone for MSI as we expand our
operations internationally,” said Adam Falkauff, President,
Multifamily Group at MSI. “With deep expertise in the residential
rental market and a proven model in the United States, MSI is well
positioned to meet the needs of the growing renters insurance
market in Canada and provide useful solutions for consumers and
property managers in this marketplace.”
MSI is collaborating with Summit Commercial Solutions, Inc.
("Summit") to gain entry to the residential rental market in
Canada.
“We are excited for this opportunity with MSI,” said Josh
Pillsbury, Co-Founder and Managing Partner, Summit. “The demand for
a more comprehensive, technology-focused, renters insurance
solutions has become increasingly necessary in the Canadian
residential rental market. We look forward to being at the
forefront of this venture.”
Summit is a full-service Canadian commercial property &
casualty insurance brokerage, serving more than 90% of Canada’s
English-speaking population.
“The consolidation of rental property management and ownership
in the Canadian market, coupled with a lack of robust renters
insurance solutions, has led to increased demand for a solution
like the one provided by MSI,” said Falkauff. “Summit’s and MSI’s
collaboration is the right approach to quickly provide and scale a
solution to meet this consumer need in Canada.”
ABOUT MILLENNIAL SPECIALTY INSURANCE, LLC
Millennial Specialty Insurance, LLC is one of the largest non
carrier-affiliated Managing General Agencies (MGAs) in the United
States. Combining expert underwriting with industry-leading
technology, MSI creates a superior insurance experience for
carriers, distribution partners, and customers. MSI collaborates
with insurance carriers to design and distribute products through
agents, brokers, and technology partners. Founded in 2015, MSI has
grown to offer a wide range of insurance products across
commercial, specialty and personal lines. In 2019, MSI joined BRP
Group, Inc. as an indirect subsidiary of BRP Group, Inc. For more
information, please visit www.msimga.com.
ABOUT BRP GROUP, INC.
BRP Group, Inc. (NASDAQ: BRP) is an independent insurance
distribution firm delivering tailored insurance and risk management
insights and solutions that give our Clients the peace of mind to
pursue their purpose, passion and dreams. We are innovating the
industry by taking a holistic and tailored approach to risk
management, insurance, and employee benefits, and support our
Clients, Colleagues, Insurance Company Partners and communities
through the deployment of vanguard resources and capital to drive
our organic and inorganic growth. BRP Group represents over two
million clients across the United States and internationally. For
more information, please visit www.baldwinriskpartners.com.
ABOUT SUMMIT COMMERCIAL SOLUTIONS, INC.
Summit Commercial Solutions, Inc. is a national property &
casualty insurance brokerage and risk management firm headquartered
in Kelowna, British Columbia. Founded in 2022 by Davis Gilbert and
Josh Pillsbury, Summit is one of Canada’s fastest growing retail
brokerages, and is supported by several of North America’s longest
standing and insurance-focused venture capital firms. Summit
believes Canadian consumers and businesses deserve a better
insurance experience and is a broker built for the future. For more
information, please visit www.summitcover.ca.
BRP GROUP, INC. NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This press release may contain various “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, which represent BRP Group’s expectations or
beliefs concerning future events. Forward-looking statements are
statements other than historical facts and may include statements
that address future operating, financial or business performance or
BRP Group’s strategies or expectations. In some cases, you can
identify these statements by forward-looking words such as “may”,
“might”, “will”, “should”, “expects”, “plans”, “anticipates”,
“believes”, “estimates”, “predicts”, “projects”, “potential”,
“outlook” or “continue”, or the negative of these terms or other
comparable terminology. Forward-looking statements are based on
management’s current expectations and beliefs and involve
significant risks and uncertainties that could cause actual
results, developments and business decisions to differ materially
from those contemplated by these statements.
Factors that could cause actual results or performance to differ
from the expectations expressed or implied in such forward-looking
statements include, but are not limited to, those described under
the caption “Risk Factors” in BRP Group’s Annual Report on Form
10-K for the year ended December 31, 2023 and in BRP Group’s other
filings with the SEC, which are available free of charge on the
SEC’s website at: www.sec.gov, including those risks and other
factors relevant to the business, financial condition and results
of operations of BRP Group. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those indicated.
All forward-looking statements and all subsequent written and oral
forward-looking statements attributable to BRP Group or to persons
acting on behalf of BRP Group are expressly qualified in their
entirety by reference to these risks and uncertainties. You should
not place undue reliance on forward-looking statements.
Forward-looking statements speak only as of the date they are made,
and BRP Group does not undertake any obligation to update them in
light of new information, future developments or otherwise, except
as may be required under applicable law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240305246522/en/
BRP PRESS Anna Rozenich, Senior Director, Enterprise
Communications Baldwin Risk Partners 630.561.5907 |
anna.rozenich@baldwinriskpartners.com
BRP INVESTOR RELATIONS Bonnie Bishop, Executive Director,
Investor Relations Baldwin Risk Partners 813.259.8032 |
IR@baldwinriskpartners.com
SUMMIT INVESTOR RELATIONS media@summitcover.ca
250.900.8695
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