The Baldwin Group
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Earlier this week, The Baldwin Group said it will merge with CAC Group in a deal valued at $1.026bn. -
Baldwin said the $1bn merger with CAC accelerates the firm's specialization plans by at least five years.
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The deal is slated to close in the first quarter of 2026.
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The pace of increases ticked down in the second quarter compared to Q1.
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The deal triples Hippo’s new homeowner leads and extends Baldwin’s MGA capacity.
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Hippo will also provide capacity for existing and future MSI programs.
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The Floridian brokerage expects to bring its leverage levels below 4x later this year.
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Companies often purchase policies with limits far exceeding their actual exposure needs.
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The subsidiary generated 2023 gross revenue of $34mn and adjusted Ebitda of ~$5mn.
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Dan Galbraith, BRP Group’s COO, and Jim Roche, the firm’s chief insurance innovation officer, will serve as co-presidents.
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The executive brings more than 25 years of global reinsurance broking experience to the new company.
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The broker closed six partner acquisitions in Q4
