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FR
Baldwin revenue up 30% in Q2, forecasts organic growth in H2
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Business Insurance
Baldwin revenue up 30% in Q2, forecasts organic growth in H2Rising expenses dented profits at The Baldwin Group, but the commercial insurance broker forecast increased organic growth for the second half of the year.
For the second quarter, revenue increased 30% to $492.9 million with organic revenue growth of 2%.
Organic growth in the Insurance Advisory Solutions unit declined by 2% as revenue increased 50% to $275 million, according to Mr. Baldwin.
In the Underwriting, Capacity & Technology unit, organic growth was 6% as revenue increased 9% to $160 million.
In Mainstreet Insurance Solutions, organic growth was 4% and revenue increased 13% to $75 million, he said.