The Baldwin Group
The Baldwin Group is an independent, publicly traded insurance brokerage and advisory firm headquartered in Tampa, Florida, serving over 3 million business and individual clients across all 50 states through retail brokerage, employee benefits, specialty MGA, and embedded insurance distribution channels, with combined revenue projected above $2 billion in 2026.
- Company typePublic
- Founded2009
- HeadquartersTampa, United States
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What The Baldwin Group does
The Baldwin Group is an independent insurance distribution holding company headquartered in Tampa, Florida, founded in 2009 and publicly traded on NASDAQ under the ticker BWIN. Following the January 2026 merger with CAC Group and tuck-in acquisitions of Capstone Group, Obie, and Cobbs Allen Capital Holdings, the firm operates as one of the largest majority colleague-owned insurance brokers in the United States, with offices across all 50 states, a combined revenue base projected above $2 billion in 2026, and a client roster exceeding 3 million businesses and individuals. The firm operates three primary segments: Insurance Advisory Solutions (retail brokerage across business insurance, employee benefits, personal insurance, private risk, wealth management, and retirement consulting), Underwriting, Capacity & Technology Solutions (UCTS, including the MSI managing general agent platform and reinsurance brokerage), and Embedded Insurance (partnerships with mortgage lenders and real estate platforms such as Fairway Home Insurance Agency and Obie).
The firm's revenue model is commission- and fee-based across multiple streams: retail commissions from carrier partners, contingent and supplemental commissions tied to volume and profitability thresholds, client-negotiated fees, consulting compensation from carriers, MGA/wholesaler services, reinsurance brokerage, and claims handling. The company delivers proprietary market intelligence via the quarterly Market Pulse Report and the annual D&O Benchmarking Report produced in partnership with Nasdaq, and has deployed Anthropic's Claude AI firm-wide since May 2026 to support risk analysis, client information synthesis, and advisor productivity. Distribution spans direct field sales across the US, embedded insurance partnerships with mortgage lenders and homebuilders, self-service digital quoting for personal lines, and wholesale/MGA channels, while serving named enterprise clients such as the Tampa Bay Buccaneers and major industry verticals including construction, healthcare, finance, technology, real estate, government contractors, and high-net-worth individuals.
The Baldwin Group firmographics
Firmographics- Name
- The Baldwin Group
- Legal name
- The Baldwin Insurance Group Holdings, LLC
- Website
- https://baldwin.com
- Company type
- Public
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- The Baldwin Group is an independent, publicly traded insurance brokerage and advisory firm headquartered in Tampa, Florida, serving over 3 million business and individual clients across all 50 states through retail brokerage, employee benefits, specialty MGA, and embedded insurance distribution channels, with combined revenue projected above $2 billion in 2026.
- Ownership category
- akta.pro rank
The Baldwin Group industry classification
Industry- Product category
- Insurance Brokerage & Risk Advisory
- NAICS
- Insurance Agencies and Brokerages (524210)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Captive Insurance Advisory & Management (FSAEADAF)
Keywords
Where The Baldwin Group is headquartered
LocationHeadquarters
- HQ city
- Tampa
- HQ country
- United States
- HQ region
- North America
Offices63 records
Markets served
The Baldwin Group business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Retail Commissions: Retail commission is paid by insurance company partners as a percentage of premium charged to the insured. Commission rates vary by insurance product type, insurance company partner selected, and applicable filed/approved rates.
- Client Fees: Fees paid by clients for services in lieu of or in addition to retail commissions, when specifically negotiated and agreed. Fees may be credited through retail commissions for specialized placement services.
- Insurance Company Partner Consulting Compensation: Compensation from insurance company partners for consulting, data analytics, or other services unrelated to placement of individual policies, designed to improve product offerings and enhance operational efficiency.
- Contingent Commissions: Commissions paid when volume, profitability, retention, and/or growth thresholds are met with insurance company partners during given periods.
- Supplemental Commissions: Additional commissions from modified commission schedules with insurance markets including Baldwin-owned intermediaries, based on profitability, volume, or retention thresholds.
- MGA and Wholesaler Services: Compensation as wholesalers, underwriting managers, program administrators, or managing general agents, earning and retaining compensation from insurance company partners for providing insurance products and services.
- Reinsurance Brokerage: Reinsurance brokerage services provided to insurance carrier clients, compensated separately from insurance brokerage services for retail clients.
- Claims Handling Services: Compensation for handling and adjusting claims by insurance company partners through certain subsidiaries or affiliates.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Multi-year contract | Retail Commission-based Insurance Brokerage |
| Other | Annual | Client Fee Arrangements |
| Professional services/ project-based | Annual | Consulting Services |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
The Baldwin Group product offering
Product offeringCore offering
The Baldwin Group is an independent insurance distribution and advisory holding company that delivers commercial insurance brokerage, employee benefits, personal insurance, private risk management, wealth management, and reinsurance services to over three million businesses and individuals across the United States. The firm operates through three segments—Insurance Advisory Solutions, Underwriting Capacity & Technology Solutions (UCTS), and Embedded Insurance—supported by specialty MGA operations, embedded insurance partnerships, and proprietary market intelligence such as the Market Pulse and D&O Benchmarking Reports.
Product overview
The Baldwin Group is an independent insurance distribution holding company delivering advisory and brokerage services rather than a single unified software product. The company operates through multiple business segments: Insurance Advisory Solutions (retail insurance brokerage for business and individual clients), Underwriting Capacity & Technology Solutions (UCTS - including MGA operations, reinsurance brokerage, and specialty programs), and Embedded Insurance. Key products include Business Insurance, Employee Benefits, Personal Insurance, Private Risk, Wealth Management, and Retirement Consulting. The company has built proprietary research and intelligence tools including the D&O Benchmarking Report (produced with Nasdaq) and the quarterly Market Pulse Report tracking commercial insurance pricing trends. Recent acquisitions include CAC Group (specialty and middle-market insurance with CAC Specialty, CAC Agency, and CAC Capital), Obie (embedded insurance for real estate investors), and Capstone Group (Philadelphia-based broker). The company has also launched new products including Azimuth Re (construction contractor captive) and Fairway Home Insurance Agency (embedded mortgage insurance). AI capabilities are deployed internally through Anthropic's Claude for risk analysis and workflow optimization, with API-connected placement tools developed for cyber insurance operations.
Differentiator
Problem solved
Functional benefit
Brands
- The Baldwin Group: Parent brand for insurance and risk management services including business insurance, employee benefits, personal insurance, private risk, and wealth management
- CAC Specialty
- CAC Agency
- CAC Capital
- Obie
- MSI
Products and services
- Business Insurance Comprehensive commercial insurance brokerage including property and casualty, cyber, government contracting, international, management liability, mergers & acquisitions, and surety coverages. Serves mid-market and enterprise businesses across construction, energy, healthcare, manufacturing, real estate, and transportation sectors.
- Employee Benefits Strategic employee benefits advisory including health insurance, ancillary benefits, retirement plan consulting, alternative funding, analytics and underwriting, benefits compliance, communications and engagement, pharmacy benefit consulting, and population health management for employer clients.
- Personal Insurance Personal lines coverage for individuals and families including auto and vehicle insurance, home and property insurance, individual health insurance, Medicare, and life insurance distributed through self-service digital quoting and call-center sales.
- Private Risk High-net-worth personal risk management including luxury and collector car insurance, collections and valuables, farm and equine, high-value homes, marine and mega yacht, and personal umbrella excess liability coverage.
- Wealth Management Financial advisory services including asset management and wealth planning to build, protect, and grow client wealth.
- Reinsurance Brokerage Reinsurance brokerage services provided to insurance carrier clients, compensated separately from retail brokerage.
- Specialty MGA Managing general agent operations providing specialty insurance products and underwriting capabilities through the MSI platform within the Underwriting, Capacity & Technology Solutions (UCTS) segment.
- Embedded Insurance Embedded insurance distribution capabilities enabling integration of insurance products into partner platforms and processes, including the Fairway Home Insurance Agency and the Obie real estate investor platform.
- Retirement Consulting Retirement plan design and consulting services to help businesses create tailored strategies that meet organizational goals and support employee financial security.
- Azimuth Re Ltd. Member-owned group captive launched in partnership with Innovative Captive Strategies, targeted at high-premium construction contractors for risk management and safety promotion as an alternative risk financing solution.
- Fairway Home Insurance Agency Embedded home and personal insurance agency launched in partnership with Fairway Independent Mortgage Corporation, integrating coverage recommendations into Fairway's mortgage origination process starting Q2 2026 using Baldwin's proprietary technology platform and national insurance carrier relationships.
Quantifiable outcome
- 29% revenue growth in Q1 2026 to $532.2 million
- +4 more outcomes
Companies that use The Baldwin Group
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles4 records
The Baldwin Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability4 records
Feature5 records
The Baldwin Group partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- AnthropiccoreExpanded enterprise partnership to deploy Claude AI across entire firm following successful limited deployment. AI platform used to analyze risk, synthesize client information, and support insurance solutions for advisors and client teams. Comparable deployments at HUB International reported 85% productivity increase.
- Innovative Captive StrategiesminorLaunch of Azimuth Re Ltd., a member-owned group captive targeted at high-premium construction contractors. Partnership aims to manage risk and promote safety as alternative risk financing solution.
- Fairway Independent Mortgage CorporationcoreLaunch of Fairway Home Insurance Agency, embedded insurance unit integrating home and personal insurance into mortgage origination process starting Q2 2026. Fairway originated over 67,000 loans in 2024, ranked sixth largest independent mortgage lender in the US.
- Obie (Creisoft, Inc.)coreAcquisition of Chicago-based embedded insurance distribution platform serving landlords and real estate investors. Obie has grown revenue over 2,100% since 2021 while maintaining loss ratio below 50%. Expands Baldwin's property distribution capabilities through MSI MGA subsidiary.
- Paul SparkscoreExecutive Chairman of CAC Group appointed to Baldwin's Board of Directors effective January 1, 2026. Brings nearly 40 years of insurance experience, having led CAC since founding in 2019 with approximately 30% CAGR organic revenue growth.
- Capstone GroupcoreAcquisition of Philadelphia-area multi-line independent insurance brokerage headquartered in Lower Gwynedd Township, Pennsylvania. Expands Mid-Atlantic footprint and strengthens capabilities across multiple insurance lines.
- Capstone GroupcoreAcquisition of Philadelphia-area multi-line independent insurance brokerage founded in 2013. Capstone specializes in risk management, group health and ancillary benefits, and property and casualty insurance with double-digit organic growth serving healthcare, finance, construction, manufacturing, private equity, and technology sectors.
- CAC GroupcoreMerger completed January 2026 creating one of the largest independent insurance advisory and distribution platforms in the United States. Transaction valued at $1.026 billion. CAC Group comprises CAC Specialty, CAC Agency, and CAC Capital, ranked among top 40 U.S. brokerage firms. Combined entity projected to generate over $2 billion in revenue in 2026.
- Cobbs Allen Capital HoldingscoreAcquisition for $438 million in cash plus 23.2 million shares of Class A common stock alongside $600 million incremental term loan. Expands Baldwin's capabilities in insurance advisory and distribution.
- NasdaqcorePartnership to produce annual D&O Benchmarking Report, now in fifth edition. Report provides Directors & Officers insurance market analysis and benchmarking data for companies across industries.
- WürkminorPartnership to unveil employee benefit captive program for cannabis industry operators. Baldwin provides insurance expertise and captive program administration through the partnership.
- Tampa Bay BuccaneersminorOfficial insurance broker sponsorship and title sponsor of Buccaneer Luxury Suite Concierge program. Partnership provides commercial risk management and employee benefits for the NFL team.
Scale indicators15 records
Recent moves6 records
Expansion highlights7 records
The Baldwin Group competitors and assessment
Company assessmentEmerging players
- BroadStreet Partners: PE-backed U.S. insurance brokerage platform consolidating regional commercial agencies. Smaller scale but same roll-up playbook targeting the same fragmented mid-market brokerage landscape Baldwin addresses.
Direct peers
- AssuredPartners: PE-backed large U.S. insurance brokerage focused on middle-market commercial and personal lines. Directly comparable acquisition-led growth strategy and client profile.
- Arthur J. Gallagher & Co. Large publicly traded global insurance brokerage and risk management firm (NYSE: AJG) directly competing with Baldwin in retail, specialty, and reinsurance brokerage. Highly comparable business model and acquisition-led growth approach.
- Brown & Brown: Publicly traded insurance brokerage and risk management firm (NYSE: BRO) with comparable retail and specialty insurance distribution, similar acquisition-driven growth strategy, and overlapping middle-market customer base. Direct competitor in the U.S. insurance brokerage space.
- Acrisure: Fast-growing privately held insurance brokerage leveraging technology and aggressive M&A. Comparable middle-market commercial brokerage focus, though differentiated by heavier tech/AI platform emphasis and partnership with private equity.
- Lockton: World's largest privately held insurance brokerage with comparable specialty and middle-market capabilities. Directly competes for large commercial accounts and benefits business; both firms emphasize independent, employee-influenced culture.
- Hub International: Privately held large North American insurance brokerage with similar mid-market and specialty focus. Directly comparable in client mix, geographic footprint, and acquisition strategy; notably also a Claude AI enterprise deployment comparable.
Broad incumbents
- Willis Towers Watson: Global advisory, broking, and solutions firm (NASDAQ: WTW) competing with Baldwin's Insurance Advisory Solutions and Reinsurance segments. Larger scale and broader HR/benefits consulting footprint.
- Aon plc: Global insurance brokerage and advisory firm (NYSE: AON) directly competing with Baldwin in commercial risk, reinsurance, and benefits. Operates at much larger scale with broader consulting capabilities.
- Marsh McLennan: Global #1 insurance brokerage and risk advisory firm (NYSE: MMC) operating Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Overlaps with Baldwin's advisory and reinsurance brokerage capabilities but at much larger scale and broader service portfolio.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
The Baldwin Group social profiles
Digital presenceThe Baldwin Group compliance and trust
Trust signalCompliance3 records
The Baldwin Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Baldwin Group leadership team
Management profileNumber of profiles
Profiles16 records
The Baldwin Group subsidiaries and ownership
Company hierarchySubsidiaries10 records
The Baldwin Group funding detail
Funding detailFunding overview
Funding rounds6 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Baldwin Group M&A and investment
M&A and investmentM&A11 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The Baldwin Group
What does The Baldwin Group do?
The Baldwin Group is an independent insurance distribution and advisory holding company that delivers commercial insurance brokerage, employee benefits, personal insurance, private risk management, wealth management, and reinsurance services to over three million businesses and individuals across the United States. The firm operates through three segments—Insurance Advisory Solutions, Underwriting Capacity & Technology Solutions (UCTS), and Embedded Insurance—supported by specialty MGA operations, embedded insurance partnerships, and proprietary market intelligence such as the Market Pulse and D&O Benchmarking Reports.
Is The Baldwin Group a public or private company?
The Baldwin Group is a public company. It is classified as public and is currently operating.
When was The Baldwin Group founded?
The Baldwin Group was founded in 2009. It employs 1,001 to 5,000 people.
Where is The Baldwin Group based?
The Baldwin Group is headquartered in Tampa, United States, in the North America region.
How does The Baldwin Group make money?
Eight revenue lines are on record. Retail Commissions are the primary driver. The others are client Fees, insurance Company Partner Consulting Compensation, contingent Commissions, supplemental Commissions, MGA and Wholesaler Services, reinsurance Brokerage and claims Handling Services.
Who are The Baldwin Group's main competitors?
BroadStreet Partners is listed as an emerging player. Direct peers are AssuredPartners, Arthur J. Gallagher & Co., Brown & Brown, Acrisure, Lockton and Hub International. Broad incumbents are Willis Towers Watson, Aon plc and Marsh McLennan.
Does The Baldwin Group have an API?
No public API is recorded for The Baldwin Group.
What industry is The Baldwin Group in?
The Baldwin Group's product category is Insurance Brokerage & Risk Advisory. Its primary akta.pro industry code is FSAEADAF, Captive Insurance Advisory & Management. Its NAICS code is 524210 and its SIC code is 6411.