The Baldwin Insurance Group, Inc. · NASDAQ:BWIN
The Baldwin Insurance — William Blair Growth Stock Conference (2023)
12 slides from The Baldwin Insurance's conference presentation, 2023
Slide 1: BRP Group Firm Overview
_ BRP GROUP FIRM OVERVIEW
Slide 2: Forward-looking statements and non-GAAP disclaimer
This presentation contains forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. All statements other than statements of historical facts contained in this presentation, including information concerning our possible or assumed future results
Slide 3: Permanent capital, sustainable approach to doing business
1. Permanent capital, sustainable approach #3 FASTEST FASTEST GROWING (3) GROWING BROKER (1) PRIVATE COMPANIES (2) to doing business BRP Announces 2. Invest in people and resources to drive Pricing of Its Initial $1,079mm (6) organic growth Public Offering (4) 3. Build industry-leading technology $7
Slide 4: Colleagues, clients and premium placed
1 state ~$7bn premium placed for clients ~100 colleagues 3,800+ colleagues 1,300,000+ clients across U.S. / Int’l 4
Slide 5: We only partner with the best firms
“We have no interest in ‘B’ businesses – we only partner with the best firms. It’s part of our promise to our current partners.” - Trevor Baldwin, CEO Source: Insurance Journal’s latest “Top 100 Property/Casualty Agencies” report at time of Partnership (report does not include Westwood) 5
Slide 6: BRP vs industry organic growth
23% 23% 22% 16% 10% 9% 9% 7% 5% 2% 2019 2020 2021 2022 Q1 2023 BRP Industry Source: Peer set includes AON, BRO, AJG, MMC, and WTW. 6
Slide 7: Pre-Partnership FY 2022 revenue growth
$284 $150 Pre-Partnership FY 2022 Source: (1) Includes firms that joined BRP after June 2020 and have been with the firm for at least 12 months. 7
Slide 8: BRP: ~3.2x industry average producer productivity
<1 Year 1 - 2 Years 2 - 3 Years 3+ Years BRP: ~3.2x 478 Industry Average $265,789 BRP: ~1.6x 306 Industry Industry Average New Average 246 Business for Advisors with 3+ Years Tenure: $84k (3) $136,386 167 95 67 76 $47,216 57 $35,180 45 82 44 2019 2020 2021 2022 <1 Year 1 - 2 Years 2 - 3 Years 3+ Yea
Slide 9: Underwriting, billing and policy issuance businesses
$660mm $318mm + Admitted Home (42 states) + Residential Flood + E&S Home $117mm (14 states) + Admitted Home Commercial Personal Specialty (1 state) + REI Master $77mm Property + Umbrella 5+ products in Renters + Master Select Owned Activities: +Mgmt. Liability development • Underwriting • Servicing
Slide 10: Management commentary on reinvestment and organic growth
“…we have concluded this major reinvestment cycle in our business and, shortly, we'll have fully absorbed the run rate payroll from prior year headcount growth. While we are just beginning to see the benefits of these investments in our organic growth, we expect to begin seeing these investments ear
Slide 11: Reinvestment moderating, profitability to increase
“After three years of reinvestment into the business focused on technology, talent and building capabilities needed for the insurance brokerage of the future, investments and Colleague headcount growth have moderated to a more normal course level, leaving us well- positioned to generate outsized org
Slide 12: BRP Group closing logo
€ 5 BR P | insictt Bevono insuRANCE
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