BALDWIN INSURANCE GROUP INC CLASS (BWIN)
Financials · Insurance brokerage and risk management distribution · NASDAQ
Baldwin is an independent insurance broker and risk management firm serving over three million U.S. clients through specialized teams and a technology-enabled MGA platform, competing on service, expertise, and tailored solutions in a fragmented industry.
What BALDWIN INSURANCE GROUP INC CLASS does
Baldwin Insurance Group is an independent insurance distribution firm providing comprehensive risk management, insurance, and employee benefits solutions to clients across the United States. The company operates through three segments delivering commercial property and casualty insurance, employee benefits, personal lines insurance, wealth management, retirement services, and Medicare products. Baldwin serves over three million clients through approximately 125 offices with a team of around 5,000 colleagues, including roughly 900 risk advisors, and generates revenue through commissions, consulting fees, policy fees, and earned premiums from assumed insurance contracts.
Themes: ["Insurance distribution / brokerage","Commercial insurance","Employee benefits","Wealth management and retirement","Reinsurance brokerage","MGA / managing general agent platforms","Technology-enabled insurance solutions"]
Fundamentals
- Price$26.45 as of 2026-07-09 close
- Market cap$3.7B as of 2026-07-10
- 1-year return-32.0% as of 2026-07-09 close
- Net margin-2.8% as of 2026-07-10
- Gross margin+29.6% as of 2026-07-10
- ROE-6.5% as of 2026-07-10
- Debt / equity2.45 as of 2026-07-10
- Revenue growth (YoY)+14.2% as of 2026-07-10
- Revenue CAGR (3y)+15.3% SEC XBRL
- Beta1.02 as of 2026-07-10
Key risks (from latest filing)
["Commission revenue is dependent on insurance premium cycles; soft markets with declining premiums reduce commission revenues, while clients may shift to fee-based arrangements to mitigate costs","Company is currently unprofitable with negative 2.8% net margin and significant debt burden ($1.6 billion term loans plus $600 million senior secured notes), which constrains financial flexibility","Continued success depends on ability to recruit and retain top talent (risk advisors and colleagues), integrate acquired partnerships, and expand MSI platform against larger, globally-established insurance brokers"]
Competitors & peers
- Marsh & McLennan Companies (MMC)
- Arthur J. Gallagher (AJG)
- Aon (AON)
- Alliant Insurance Services (ALLY)
- Brown & Brown (BRO)
- Willis Towers Watson (WTW)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.