IAP Acted As The Exclusive Financial Advisor To Baldwin And Placement Agent For The Notes In Connection With A $110 Million Note Purchase Agreement Supporting Anticipated Launch Of Debut Baldwin-Sponsored Reciprocal Exchange
On March 26th, 2025, The Baldwin Insurance Group, Inc. (“Baldwin”) announced that, in connection with the anticipated launch of its debut Baldwin-sponsored reciprocal insurance exchange, Builder Reciprocal Insurance Exchange (“BRIE”), BRIE has entered into a note purchase agreement to raise $110 million of surplus financing through the issuance of surplus note debentures (the “Notes”). $95 million of the Notes will be funded by an affiliate of Gallatin Point Capital LLC (“Gallatin Point”), with the remainder funded by affiliates of Baldwin.
BRIE will focus on providing capacity for Baldwin’s builder-sourced homeowners book of business, allowing Baldwin’s affiliated MGA, MSI, to accelerate the transition from its existing carrier partner.
Insurance Advisory Partners acted as the exclusive financial advisor to Baldwin and placement agent for the Notes in connection with this transaction.
IAP has extensive experience and expertise dealing with reciprocal exchange capital raises and formations. Members of the IAP team have now worked on many reciprocal exchange transactions, and we are recognized as a leading expert in this space.
For more information regarding this transaction, please see the following press release: https://ir.baldwin.com/news-releases/news-release-details/baldwin-group-announces-signing-110-million-note-purchase