The Baldwin Insurance Group, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 07, 2024 at 04:05 pm EDT
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The Baldwin Insurance Group, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported revenue was USD 380.37 million compared to USD 330.45 million a year ago. Net income was USD 21.58 million compared to net loss of USD 14.13 million a year ago.
Basic earnings per share from continuing operations was USD 0.35 compared to basic loss per share from continuing operations of USD 0.24 a year ago. Diluted earnings per share from continuing operations was USD 0.33 compared to diluted loss per share from continuing operations of USD 0.24 a year ago.
Baldwin Insurance Group Inc., formerly BRP Group, Inc., is an independent insurance distribution company. It is divided in three operating groups: Insurance Advisory Solutions (IAS), Underwriting, Capacity & Technology Solutions (UCTS), and Mainstreet Insurance Solutions (MIS). IAS provides commercial risk management, employee benefits solutions and private risk management for businesses and high-net-worth individuals, as well as their families. UCTS consists of three businesses: specialty wholesale broker businesses and niche industry businesses; MGA of the Future platform, and reinsurance brokerage business, Juniper Re. MIS offers personal insurance, commercial insurance, and life and health solutions to individuals and businesses in their communities, with a focus on accessing clients via sheltered distribution channels, which include new home builders, mortgage originators/lenders, master planned communities and other community centers of influence.