KBW says Baldwin Q3 miss a “blip” as share price drops 14%KBW has reiterated its “outperform” guidance for the Baldwin Insurance Group’s stock despite the latest Q3 release slightly missing expectations, leading to a negative reaction from investors.
Baldwin Group posts 14% Q3 organic growth and 60bps of adj Ebitda margin expansionThe Baldwin Group reported 14 percent organic revenue growth for the third quarter, while growing adjusted Ebitda by the same amount to $72.8mn and expanding its adjusted Ebitda margin by 60 basis points (bps) to 21.5 percent.
Millennial Specialty looking to launch 3-4 new programs per year: Roche and CarlisleManagement of Millennial Specialty (MSI) said that after reaching the $1bn in-force written premium milestone in the second quarter, The Baldwin Group-backed MGA platform has ideas for around ten new programs as it looks to launch three to four a year.
The Baldwin Group-owned MGA platform Millennial Specialty hits $1bn-premium markThe Baldwin Group’s in-house MGA Millennial Specialty Insurance hit $1bn in in-force written premium during the second quarter, the MGA’s parent company announced Wednesday.
Baldwin Group organic growth accelerates to 19% and adj Ebitda margin +130bpsOrganic revenue growth at The Baldwin Group accelerated to 19 percent in the second quarter - up from 16 percent in the first - as the firm expanded its adjusted Ebitda margin by 130 basis points to 22 percent and adjusted Ebitda grew 22 percent to $74.9mn.
Baldwin names MGA solutions and capacity solutions presidentsThe Baldwin Group has promoted Amy Carlisle to president of MGA solutions and Austin Rock to president of capacity solutions.
The Baldwin Group launches digital placement platform for cyberThe Baldwin Group has partnered with digital commercial wholesaler Limit and a number of carriers to launch an API-connected underwriting platform called Cyber Navigator.
Baldwin Risk Partners to rebrand as the Baldwin GroupBaldwin Risk Partners has announced its new firm-wide branding initiative, transitioning to the Baldwin Group as of today.
Juniper Re expected to be EPS and Ebitda positive in 2025Newly launched reinsurance broker Juniper Re is expected to be earnings and Ebitda positive in 2025, according to Trevor Baldwin, the CEO of the start-up’s parent BRP Group.
New Amwins acquisition Connected generated $34mn revs/$5mn Ebitda in 2023BRP Group’s divestment of Connected Risk Solutions to Amwins will bring the wholesale giant a business that generated $34mn of gross revenue and $5mn of adjusted Ebitda in 2023, the seller has revealed.
BRP Group promotes Galbraith and Roche to co-presidentsBaldwin Risk Partners has promoted COO Dan Galbraith and chief insurance innovation officer Jim Roche to co-presidents of the company.
BRP’s AHT Insurance launches psychedelic therapy malpractice programBRP-owned Armfield, Harrison & Thomas has launched TheraCover Psychedelics Insurance to provide insurance coverage to professionals and companies bringing lawful uses of psychedelic medical therapies to the market.