BRP Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 04:25 pm EST
Share
BRP Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 17.63 million compared to USD 24.79 million a year ago. Basic loss per share from continuing operations was USD 0.29 compared to USD 0.43 a year ago. Diluted loss per share from continuing operations was USD 0.29 compared to USD 0.43 a year ago.
For the nine months, net loss was USD 55.66 million compared to net income of USD 6.72 million a year ago. Basic loss per share from continuing operations was USD 0.93 compared to basic earnings per share from continuing operations of USD 0.12 a year ago. Diluted loss per share from continuing operations was USD 0.93 compared to diluted earnings per share from continuing operations of USD 0.11 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.