{"id":830067,"date":"2025-03-26T09:49:09","date_gmt":"2025-03-26T13:49:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/the-baldwin-group-announces-signing-of-110-million-note-purchase-agreement-in-connection-with-launch-of-debut-baldwin-sponsored-reciprocal-insurance-exchange\/"},"modified":"2025-03-26T09:49:09","modified_gmt":"2025-03-26T13:49:09","slug":"the-baldwin-group-announces-signing-of-110-million-note-purchase-agreement-in-connection-with-launch-of-debut-baldwin-sponsored-reciprocal-insurance-exchange","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-baldwin-group-announces-signing-of-110-million-note-purchase-agreement-in-connection-with-launch-of-debut-baldwin-sponsored-reciprocal-insurance-exchange\/","title":{"rendered":"The Baldwin Group Announces Signing of $110 Million Note Purchase Agreement in Connection with Launch of Debut Baldwin-Sponsored Reciprocal Insurance Exchange"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>The Baldwin Group Announces Signing of $110 Million Note Purchase Agreement in Connection with Launch of Debut Baldwin-Sponsored Reciprocal Insurance Exchange<\/b><\/p>\n<p>TAMPA, Fla.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nThe Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (\u201cBaldwin\u201d or the \u201cCompany\u201d) (NASDAQ: BWIN), announced today that, in connection with the anticipated launch of its debut Baldwin-sponsored reciprocal insurance exchange, Builder Reciprocal Insurance Exchange (\u201cBRIE\u201d), BRIE has entered into a note purchase agreement to raise $110 million of surplus financing through the issuance of surplus debentures (the \u201cNotes\u201d). $95 million of the Notes will be funded by an affiliate of Gallatin Point Capital LLC (\u201cGallatin Point\u201d), with the remainder funded by affiliates of Baldwin. The closing of the note purchase agreement and funding of the Notes is expected to occur in the second quarter of 2025, subject to customary closing conditions including applicable regulatory approvals.\n<\/p>\n<p>\n\u201cWe are extremely excited about the signing of the note purchase agreement with Gallatin Point, a leading financial services investor, which will enable the successful launch of BRIE with $110 million in committed surplus notes,\u201d said Trevor Baldwin, Chief Executive Officer of The Baldwin Group. \u201cLaunching BRIE represents a meaningful milestone in our continued journey to vertically integrate across the value chain and bring innovative, third-party risk capital solutions to market in support of more efficient risk transfer outcomes for our clients.\u201d\n<\/p>\n<p>\n\u201cWe are thrilled to be partnering with Baldwin on the launch of BRIE,\u201d added Matthew Botein, Co-Founder and Managing Partner of Gallatin Point. \u201cBaldwin\u2019s growth over the past decade has been remarkable, and we are excited to be able to support them through our capital investment as they continue to create innovative insurance solutions for their clients and further grow their builder-sourced homeowners book of business.\u201d\n<\/p>\n<p>\nAs previously disclosed, BRIE will focus on providing capacity for Baldwin\u2019s builder-sourced homeowners book of business, enabling Baldwin\u2019s affiliated managing general agency (\u201cMSI\u201d) to accelerate the transition from its existing carrier partner. At this time, MSI has fully satisfied all conditions necessary to extend the term of its existing Program Administrator Agreement with its existing carrier partner, which will continue to support the book through the transition.\n<\/p>\n<p>\nAdditionally, an affiliate of Baldwin will serve as the attorney-in-fact (\u201cAIF\u201d) of BRIE. Baldwin does not expect to consolidate BRIE\u2019s or the AIF\u2019s financial results. As such, the Notes would not represent additional debt of Baldwin or its affiliates.\n<\/p>\n<p>\nInsurance Advisory Partners LLC acted as exclusive financial advisor to Baldwin and placement agent for the Notes. Troutman Pepper Locke LLP served as legal counsel to Baldwin, and Morgan, Lewis &amp; Bockius LLP served as legal counsel to Gallatin Point, in connection with this transaction.\n<\/p>\n<p><b>ABOUT THE BALDWIN GROUP<\/b><\/p>\n<p>\nThe Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (NASDAQ: BWIN) and its affiliates, is an independent insurance distribution firm providing indispensable expertise and insights that strive to give our clients the confidence to pursue their purpose, passion, and dreams. As a team of dedicated entrepreneurs and insurance professionals, we have come together to help protect the possible for our clients. We do this by delivering bespoke client solutions, services, and innovation through our comprehensive and tailored approach to risk management, insurance, and employee benefits. We support our clients, colleagues, insurance company partners, and communities through the deployment of vanguard resources and capital to drive our organic and inorganic growth. The Baldwin Group proudly represents more than three million clients across the United States and internationally. For more information, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.baldwin.com%2F&amp;esheet=54229068&amp;newsitemid=20250326635328&amp;lan=en-US&amp;anchor=www.baldwin.com&amp;index=1&amp;md5=7120f2a4d270a251ed51b2efd7897a3c\">www.baldwin.com<\/a>.\n<\/p>\n<p><b>ABOUT GALLATIN POINT<\/b><\/p>\n<p>\nGallatin Point Capital LLC is a private investment firm with a primary focus on making opportunistic investments in financial institutions, services, and assets. Gallatin Point aims to form highly collaborative partnerships with its investors and with management teams of its portfolio companies, seeking to combine the right capital with the right managerial competencies in order to maximize the outcome for all stakeholders. More information about Gallatin Point can be found at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.gallatinpoint.com&amp;esheet=54229068&amp;newsitemid=20250326635328&amp;lan=en-US&amp;anchor=www.gallatinpoint.com&amp;index=2&amp;md5=b8df2d5c19d838d517ec91a005f780fd\">www.gallatinpoint.com<\/a>.\n<\/p>\n<p><b>NOTE REGARDING FORWARD-LOOKING STATEMENTS<\/b><\/p>\n<p>\nThis press release may contain various \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995, which represent Baldwin\u2019s expectations or beliefs concerning future events. Forward-looking statements are statements other than historical facts and may include statements that address future operating, financial or business performance or Baldwin\u2019s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as \u201cmay,\u201d \u201cmight,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cexpects,\u201d \u201cplans,\u201d \u201canticipates,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d \u201cpredicts,\u201d \u201cprojects,\u201d \u201cpotential,\u201d \u201coutlook\u201d or \u201ccontinue,\u201d or the negative of these terms or other comparable terminology. Forward-looking statements are based on management\u2019s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements.\n<\/p>\n<p>\nFactors that could cause actual results or performance to differ from the expectations expressed or implied in such forward-looking statements include, but are not limited to, those described under the caption \u201cRisk Factors\u201d in Baldwin\u2019s Annual Report on Form 10-K for the year ended December 31, 2024 and in Baldwin\u2019s other filings with the SEC, which are available free of charge on the SEC&#8217;s website at: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=54229068&amp;newsitemid=20250326635328&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=3&amp;md5=d3ed871c9611e7611bbb1cd133f87328\">www.sec.gov<\/a>, including those risks and other factors relevant to the business, financial condition and results of operations of Baldwin. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to Baldwin or to persons acting on behalf of Baldwin are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and Baldwin does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250326635328r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250326635328\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250326635328\/en\/<\/a><\/span><\/p>\n<p><b>INVESTOR RELATIONS<br \/>\n<\/b><br \/>Bonnie Bishop, Executive Director &#8211; Investor Relations<br \/>\n<br \/>The Baldwin Group<br \/>\n<br \/>813.259.8032 | <a rel=\"nofollow\" href=\"mailto:IR@baldwin.com\">IR@baldwin.com<br \/>\n<\/a><\/p>\n<p><b>MEDIA RELATIONS<br \/>\n<\/b><br \/>Anna Rozenich, Senior Director &#8211; Enterprise Communications<br \/>\n<br \/>The Baldwin Group<br \/>\n<br \/>630.561.5907 | <a rel=\"nofollow\" href=\"mailto:Anna.rozenich@baldwin.com\">Anna.rozenich@baldwin.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Florida<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Banking Professional Services Insurance Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250326635328\/en\/2254286\/3\/The_Baldwin_Group_std_logo_-_full_color_%28002%29.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>The Baldwin Group Announces Signing of $110 Million Note Purchase Agreement in Connection with Launch of Debut Baldwin-Sponsored Reciprocal Insurance Exchange TAMPA, Fla.&#8211;(BUSINESS WIRE)&#8211; The Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (\u201cBaldwin\u201d or the \u201cCompany\u201d) (NASDAQ: BWIN), announced today that, in connection with the anticipated launch of its debut Baldwin-sponsored reciprocal insurance exchange, Builder Reciprocal Insurance Exchange (\u201cBRIE\u201d), BRIE has entered into a note purchase agreement to raise $110 million of surplus financing through the issuance of surplus debentures (the \u201cNotes\u201d). $95 million of the Notes will be funded by an affiliate of Gallatin Point Capital LLC (\u201cGallatin Point\u201d), with the remainder funded by affiliates of Baldwin. The closing of the note purchase agreement and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-baldwin-group-announces-signing-of-110-million-note-purchase-agreement-in-connection-with-launch-of-debut-baldwin-sponsored-reciprocal-insurance-exchange\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Baldwin Group Announces Signing of $110 Million Note Purchase Agreement in Connection with Launch of Debut Baldwin-Sponsored Reciprocal Insurance Exchange&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-830067","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Baldwin Group Announces Signing of $110 Million Note Purchase Agreement in Connection with Launch of Debut Baldwin-Sponsored Reciprocal Insurance Exchange - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-baldwin-group-announces-signing-of-110-million-note-purchase-agreement-in-connection-with-launch-of-debut-baldwin-sponsored-reciprocal-insurance-exchange\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Baldwin Group Announces Signing of $110 Million Note Purchase Agreement in Connection with Launch of Debut Baldwin-Sponsored Reciprocal Insurance Exchange - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"The Baldwin Group Announces Signing of $110 Million Note Purchase Agreement in Connection with Launch of Debut Baldwin-Sponsored Reciprocal Insurance Exchange TAMPA, Fla.&#8211;(BUSINESS WIRE)&#8211; The Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (\u201cBaldwin\u201d or the \u201cCompany\u201d) (NASDAQ: BWIN), announced today that, in connection with the anticipated launch of its debut Baldwin-sponsored reciprocal insurance exchange, Builder Reciprocal Insurance Exchange (\u201cBRIE\u201d), BRIE has entered into a note purchase agreement to raise $110 million of surplus financing through the issuance of surplus debentures (the \u201cNotes\u201d). $95 million of the Notes will be funded by an affiliate of Gallatin Point Capital LLC (\u201cGallatin Point\u201d), with the remainder funded by affiliates of Baldwin. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/the-baldwin-group-announces-signing-of-110-million-note-purchase-agreement-in-connection-with-launch-of-debut-baldwin-sponsored-reciprocal-insurance-exchange\/","og_locale":"en_US","og_type":"article","og_title":"The Baldwin Group Announces Signing of $110 Million Note Purchase Agreement in Connection with Launch of Debut Baldwin-Sponsored Reciprocal Insurance Exchange - Market Newsdesk","og_description":"The Baldwin Group Announces Signing of $110 Million Note Purchase Agreement in Connection with Launch of Debut Baldwin-Sponsored Reciprocal Insurance Exchange TAMPA, Fla.&#8211;(BUSINESS WIRE)&#8211; The Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (\u201cBaldwin\u201d or the \u201cCompany\u201d) (NASDAQ: BWIN), announced today that, in connection with the anticipated launch of its debut Baldwin-sponsored reciprocal insurance exchange, Builder Reciprocal Insurance Exchange (\u201cBRIE\u201d), BRIE has entered into a note purchase agreement to raise $110 million of surplus financing through the issuance of surplus debentures (the \u201cNotes\u201d). $95 million of the Notes will be funded by an affiliate of Gallatin Point Capital LLC (\u201cGallatin Point\u201d), with the remainder funded by affiliates of Baldwin. The closing of the note purchase agreement and &hellip; Continue reading \"The Baldwin Group Announces Signing of $110 Million Note Purchase Agreement in Connection with Launch of Debut Baldwin-Sponsored Reciprocal Insurance Exchange\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/the-baldwin-group-announces-signing-of-110-million-note-purchase-agreement-in-connection-with-launch-of-debut-baldwin-sponsored-reciprocal-insurance-exchange\/","og_site_name":"Market Newsdesk","article_published_time":"2025-03-26T13:49:09+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250326635328r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-baldwin-group-announces-signing-of-110-million-note-purchase-agreement-in-connection-with-launch-of-debut-baldwin-sponsored-reciprocal-insurance-exchange\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-baldwin-group-announces-signing-of-110-million-note-purchase-agreement-in-connection-with-launch-of-debut-baldwin-sponsored-reciprocal-insurance-exchange\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"The Baldwin Group Announces Signing of $110 Million Note Purchase Agreement in Connection with Launch of Debut Baldwin-Sponsored Reciprocal Insurance Exchange","datePublished":"2025-03-26T13:49:09+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-baldwin-group-announces-signing-of-110-million-note-purchase-agreement-in-connection-with-launch-of-debut-baldwin-sponsored-reciprocal-insurance-exchange\/"},"wordCount":1067,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-baldwin-group-announces-signing-of-110-million-note-purchase-agreement-in-connection-with-launch-of-debut-baldwin-sponsored-reciprocal-insurance-exchange\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250326635328r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-baldwin-group-announces-signing-of-110-million-note-purchase-agreement-in-connection-with-launch-of-debut-baldwin-sponsored-reciprocal-insurance-exchange\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/the-baldwin-group-announces-signing-of-110-million-note-purchase-agreement-in-connection-with-launch-of-debut-baldwin-sponsored-reciprocal-insurance-exchange\/","name":"The Baldwin Group Announces Signing of $110 Million Note Purchase Agreement in Connection with Launch of Debut Baldwin-Sponsored Reciprocal Insurance Exchange - 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