Insurance Distribution Firm Adopts New Brand
to Unify Retail Brokerage Operations Under a Single Brand and to
Reflect Firm’s Transformation, Growth and Integration
BRP Group, Inc. (“Baldwin” or the “Company”) (NASDAQ: BRP)
announced today that it will transition to a new firm-wide brand to
best reflect the firm’s transformation, growth and integrated
approach to delivering innovative client solutions.
Effective today, the firm’s brand name will be The Baldwin
Group. In the coming months, the firm’s retail brokerage operations
– with nearly 40 regional brands – will also transition to The
Baldwin Group as the singular “go-to-market” brand delivering a
broad range of business insurance, employee benefits, private
client, and personal insurance advisory solutions. The firm’s
retail brokerage operations includes the Insurance Advisory
Solutions (IAS) and Mainstreet Insurance Solutions (MIS) operating
segments.
The first phase of the firm’s rebranding efforts also includes
the launch of the new website www.baldwin.com, Protecting the
Possible℠ brand positioning, and other relevant content and
marketing assets.
“I am very excited to announce that BRP is now The Baldwin
Group. For us, The Baldwin Group is more than just a new name. It
is truly indicative of who we are as a firm – a cohesive group of
experts in business insurance, employee benefits, retirement
planning, and all areas of private and personal insurance,” said
Trevor Baldwin, Chief Executive Officer of The Baldwin Group.
“Our clients are constantly pursuing what’s possible for
themselves, their families or their businesses; from renting their
first apartment to taking a company public or expanding its
operations internationally. ‘Protecting the Possible℠’ conveys the
role our firm plays in safeguarding the ambitions and achievements
of every stage of our clients’ personal and professional
lives.”
“Our unified brand will enable us to efficiently and seamlessly
deliver the broad range of specialized expertise we have built
across the firm to meet our client’s personal and business
insurance needs,” added Mr. Baldwin.
Since the firm’s founding in 2011, The Baldwin Group has grown
revenue from approximately $5 million in 2011, to approximately
$140 million in 2019, the year of the firm’s initial public
offering, to more than $1.2 billion at year-end 2023. The firm has
evolved from a local business to a regional one and now a
nationwide platform serving more than two million clients in all 50
states and globally. With nearly 4,000 colleagues, the firm is
consistently ranked a “Great Place to Work” by the likes of
Fortune, Business Insurance and USA Today/Top Workplaces USA.
The firm will manage the brand transition in phases. Following
today’s announcement of the move to The Baldwin Group, partner
brands within the IAS and MIS operating segments will begin to
transition later this summer. Brands within the firm’s
Underwriting, Capacity, and Technology Solutions (UCTS) segment as
well as Westwood Insurance Agency, will continue to maintain
independent go-to-market brands. Additionally, effective May 2,
2024, BRP Group, Inc. will be renamed as The Baldwin Insurance
Group, Inc., and Baldwin Risk Partners, LLC will be renamed as The
Baldwin Insurance Group Holdings, LLC. The firm expects to complete
its brand integration work in early 2025.
ABOUT THE BALDWIN GROUP
The Baldwin Group, the go-to-market brand name for BRP Group,
Inc. (NASDAQ: BRP) and its affiliates, is an independent insurance
distribution firm providing indispensable expertise and insights
that strive to give our clients the confidence to pursue their
purpose, passion, and dreams. As a team of dedicated entrepreneurs
and insurance professionals, we have come together to help protect
the possible for our clients. We do this by delivering bespoke
client solutions, services, and innovation through our
comprehensive and tailored approach to risk management, insurance,
and employee benefits. We support our clients, colleagues,
insurance company partners, and communities through the deployment
of vanguard resources and capital to drive our organic and
inorganic growth. The Baldwin Group proudly represents more than
two million clients across the United States and internationally.
For more information, please visit www.baldwin.com.
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 Baldwin’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
Baldwin’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 Baldwin’s Annual Report on Form 10-K
for the year ended December 31, 2023 and in Baldwin’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 Baldwin. 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 Baldwin or to persons
acting on behalf of Baldwin 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 Baldwin 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240501984670/en/
MEDIA RELATIONS Anna Rozenich, Senior Director,
Enterprise Communications The Baldwin Group 630.561.5907 |
Anna.rozenich@baldwin.com
INVESTOR RELATIONS Bonnie Bishop, Executive Director,
Investor Relations The Baldwin Group 813.259.8032 |
IR@baldwin.com
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