signature=5d5d0d875d1f87b8d9ecb1fa8c07772d,brp-20201112

最新推荐文章于 2022-11-19 14:20:32 发布

Ace Wu

最新推荐文章于 2022-11-19 14:20:32 发布

阅读量8.8k

点赞数

文章标签： signature=5d5d0d875d1f87b8d9ecb1fa8c07772d

0001781755-20-000075.txt : 20201112

0001781755-20-000075.hdr.sgml : 20201112

20201112161424

ACCESSION NUMBER:0001781755-20-000075

CONFORMED SUBMISSION TYPE:8-K

PUBLIC DOCUMENT COUNT:16

CONFORMED PERIOD OF REPORT:20201112

ITEM INFORMATION:Results of Operations and Financial Condition

ITEM INFORMATION:Financial Statements and Exhibits

FILED AS OF DATE:20201112

DATE AS OF CHANGE:20201112

FILER:

COMPANY DATA:

COMPANY CONFORMED NAME:BRP Group, Inc.

CENTRAL INDEX KEY:0001781755

STANDARD INDUSTRIAL CLASSIFICATION:INSURANCE AGENTS BROKERS & SERVICES [6411]

IRS NUMBER:611937225

STATE OF INCORPORATION:DE

FISCAL YEAR END:1231

FILING VALUES:

FORM TYPE:8-K

SEC ACT:1934 Act

SEC FILE NUMBER:001-39095

FILM NUMBER:201306846

BUSINESS ADDRESS:

STREET 1:4211 W. BOY SCOUT BLVD.

STREET 2:SUITE 800

CITY:TAMPA

STATE:FL

ZIP:33607

BUSINESS PHONE:(866) 279-0698

MAIL ADDRESS:

STREET 1:4211 W. BOY SCOUT BLVD.

STREET 2:SUITE 800

CITY:TAMPA

STATE:FL

ZIP:33607

8-K

brp-20201112.htm

8-K

brp-20201112

false000178175500017817552020-11-122020-11-12

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________________

FORM 8-K

______________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 12, 2020

______________________________

BRP Group, Inc.

(Exact name of registrant as specified in its charter)

______________________________

Delaware001-3909561-1937225

(State or other jurisdiction of(Commission(I.R.S. Employer

incorporation or organization)File No.)Identification No.)

4211 W. Boy Scout Blvd., Tampa, Florida 33607

(Address of principal executive offices) (Zip code)

(Registrant's telephone number, including area code): (866) 279-0698

Not Applicable

(Former Name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2 (b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered

Class A Common Stock, par value $0.01 per shareBRPNasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Item 2.02 Results of Operations and Financial Condition.

On November 12, 2020, BRP Group, Inc. issued a press release announcing its financial results for the quarter ended September 30, 2020. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.Description

104Cover Page Interactive Data File (embedded within the inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BRP GROUP, INC.

Date: November 12, 2020By:/s/ Kristopher A. Wiebeck

Name:Kristopher A. Wiebeck

Title:Chief Financial Officer

EX-99.1

fy2020q3earningsrelease.htm

EX-99.1

Document

EXHIBIT 99.1

BRP GROUP, INC. ANNOUNCES THIRD QUARTER 2020 RESULTS

- Third Quarter 2020 Revenue Grew 72% Year-Over-Year to $65.8 Million -

- Third Quarter 2020 Organic Revenue Growth of 20% -

- “MGA of the Future” Policies in Force Cross 500,000 Policy Milestone -

TAMPA, FLORIDA - November 12, 2020 - BRP Group, Inc. (“BRP Group” or the “Company”) (NASDAQ: BRP), a rapidly growing independent insurance distribution firm delivering tailored insurance solutions, today announced its results for the third quarter ended September 30, 2020.

THIRD QUARTER 2020 AND SUBSEQUENT EVENT HIGHLIGHTS

•Revenue increased 72% year-over-year to $65.8 million

•Pro Forma Revenue(1)grew 70% year-over-year to $66.1 million

•Organic Revenue Growth(2)was 20% year-over-year

•“MGA of the Future” revenue grew 43% to $17.5 million, compared to $12.2 million in the prior-year period

•GAAP net loss of $7.6 million and GAAP loss per share of $0.10

•Adjusted Net Income(3)of $9.0 million, or $0.11(3)per fully diluted share

•“MGA of the Future” policies in force grew by 54,313 to 500,301 at September 30, 2020 from 445,988 at June 30, 2020. Comparatively, in the third quarter 2019, policies in force grew sequentially by 41,179

•Adjusted EBITDA(4)grew 48% to $10.9 million, compared to $7.4 million in the prior-year period

•Pro Forma Adjusted EBITDA(5)of $11.0 million and Pro Forma Adjusted EBITDA Margin(5)of 17%

•Closed two Partner acquisitions that generated total annualized revenue(6)of over $3 million for the 12-month period pre-acquisition; subsequent to September 30, 2020, announced an additional Partner acquisition that generated total annualized revenue(6)of $38.5 million for the 12-month period pre-acquisition

“BRP delivered another quarter of tremendous performance as we sustained high levels of organic and total growth, once again firmly validating our hybrid growth strategy and differentiated business model,” said Trevor Baldwin, Chief Executive Officer of BRP Group.“For the quarter, we generated year-over-year revenue growth of 72% to a record $65.8 million, highlighted by 20% organic revenue growth compared to the prior-year period, an impressive feat considering the ongoing challenges in the economic environment. Our ‘MGA of the Future’ platform also hit the 500,000 policy mark this quarter, which is an incredible milestone achieved in just four years’ time. With an amazing Colleague team executing for us every day, a robust Partnership pipeline and significant capacity on our balance sheet, we are poised to enter 2021 in the strongest position in our history.”

LIQUIDITY AND CAPITAL RESOURCES

As of September 30, 2020, cash and cash equivalents were $50.2 million and there was $101.0 million of long-term debt outstanding. The Company had aggregate borrowing capacity of $400.0 million under its revolving credit facility.

On October 14, 2020, the Company entered into a new credit agreement with JPMorgan Chase Bank, N.A., to provide new senior secured credit facilities in an aggregate principal amount of $800.0 million. The amount consists of (i) a new term loan facility in the principal amount of $400.0 million maturing in 2027 and (ii) a new revolving credit facility with commitments in an aggregate principal amount of $400.0 million maturing in 2025. The Company used a portion of the proceeds from the new term loan facility to repay in full the Company’s obligations under its existing revolving credit facility and concurrently terminated the existing agreement.

NINE MONTHS 2020 RESULTS

•Revenue increased 69% year-over-year to $171.3 million

•Pro Forma Revenue(1)grew 74% year-over-year to $202.0 million

•Organic Revenue Growth(2)of 15% year-over-year

•“MGA of the Future” revenue(7)grew 41% to $41.6 million, compared to $29.5 million in the prior-year period

•GAAP net loss of $10.8 million and GAAP loss per share of $0.22

•Adjusted Net Income(3)of $27.5 million, or $0.39(3)per fully diluted share

•Adjusted EBITDA(4)grew 47% to $33.3 million, compared to $22.7 million in the prior-year period

•Pro Forma Adjusted EBITDA(5)of $47.6 million and Pro Forma Adjusted EBITDA Margin(5)of 24%

•Closed 11 Partner acquisitions that generated total annualized revenue(6)of over $81.0 million for the 12-month period pre-acquisition

WEBCAST AND CONFERENCE CALL INFORMATION

BRP Group will host a webcast and conference call to discuss third quarter 2020 results today at 5:00 PM ET. A live webcast and a slide presentation of the conference call will be available on BRP Group’s investor relations website atir.baldwinriskpartners.com. The dial-in number for the conference call is (877) 451-6152 (toll-free) or (201) 389-0879 (international). Please dial the number 10 minutes prior to the scheduled start time.

A webcast replay of the call will be available atir.baldwinriskpartners.comfor one year following the call.

ABOUT BRP GROUP, INC.

BRP Group, Inc. (NASDAQ: BRP) is a rapidly growing independent insurance distribution firm delivering tailored insurance and risk management insights and solutions that give our Clients the peace of mind to pursue their purpose, passion and dreams. We are innovating the industry by taking a holistic and tailored approach to risk management, insurance and employee benefits, and support our Clients, Colleagues, Insurance Company Partners and communities through the deployment of vanguard resources and capital to drive our growth. BRP represents over 500,000 Clients across the United States and internationally. For more information, please visitwww.baldwinriskpartners.com.

FOOTNOTES

(1)Pro Forma Revenue is a non-GAAP measure. Reconciliation of Pro Forma Revenue to commissions and fees, the most directly comparable GAAP financial measure, is set forth in the reconciliation table accompanying this release.

(2) Organic Revenue for the three and nine months ended September 30, 2019 used to calculate Organic Revenue Growth for the three and nine months ended September 30, 2020 was $38.4 million and $101.3 million, which is adjusted to reflect revenues from Partnerships that reached the twelve-month owned mark during the three and nine months ended September 30, 2020. Organic Revenue is a non-GAAP measure. Reconciliation of Organic Revenue to commissions and fees, the most directly comparable GAAP financial measure, is set forth in the reconciliation table accompanying this release.

(3) Adjusted Net Income and Adjusted Diluted EPS are non-GAAP measures. Reconciliation of Adjusted Net Income to net income attributable to BRP Group, Inc. and reconciliation of Adjusted Diluted EPS to diluted loss per share, the most directly comparable GAAP financial measures, are set forth in the reconciliation table accompanying this release.

(4) Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP measures. Reconciliation of Adjusted EBITDA to net income (loss), the most directly comparable GAAP financial measure, is set forth in the reconciliation table accompanying this release.

(5)Pro Forma Adjusted EBITDA and Pro Forma Adjusted EBITDA Margin are non-GAAP measures. Reconciliation of Pro Forma Adjusted EBITDA to net income (loss), the most directly comparable GAAP financial measure, is set forth in the reconciliation table accompanying this release.

(6)Annualized revenue represents the aggregate revenues of Partners acquired during the relevant period presented, for the most recent trailing twelve month period prior to acquisition by the Company, in each case, at the time the due diligence was concluded based on a quality of earnings review and not an audit.

(7) “MGA of the Future” was acquired by the Company on April 1, 2019 and, as a result, the revenue of “MGA of the Future” for a portion of the prior-year period is not included in the consolidated results of operations for the Company for such period and the 41% revenue growth rate for the nine months ended September 30, 2020 was calculated including periods during which “MGA of the Future” was not owned by the Company.

NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which represent BRP Group’s 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 BRP Group’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may”, “might”, “will”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “projects”, “potential”, “outlook” or “continue”, or the negative of these terms or other comparable terminology. Forward-looking statements are based on management’s 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.

Factors 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 “Risk Factors” in BRP Group’s Annual Report on Form 10-K for the year ended December 31, 2019, BRP Group’s Quarterly Report on Form 10-Q for the three months ended March 31, 2020 and BRP Group’s other filings with the SEC, which are available free of charge on the Securities and Exchange Commission's website at: www.sec.gov. 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 BRP Group or to persons acting on behalf of BRP Group 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 BRP Group 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.

CONTACTS

INVESTOR RELATIONS

Investor Relations

(813) 259-8032

IR@baldwinriskpartners.com

PRESS

Rachel Carr

Baldwin Risk Partners

(813) 418-5166

Rachel.carr@baldwinriskpartners.com

BRP GROUP, INC.

Condensed Consolidated Statements of Comprehensive Income (Loss)

(Unaudited)

For the Three Months

Ended September 30,For the Nine Months

Ended September 30,

(in thousands, except share and per share data)2020201920202019

Revenues:

Commissions and fees$65,843$38,383$171,270$101,280

Operating expenses:

Commissions, employee compensation and benefits48,46926,788122,28067,068

Other operating expenses12,1466,32030,57716,711

Amortization expense5,1853,08213,2316,793

Change in fair value of contingent consideration6,45553512,697(3,222)

Depreciation expense258184663460

Total operating expenses72,51336,909179,44887,810

Operating income (loss)(6,670)1,474(8,178)13,470

Other expense:

Interest expense, net(922)(3,785)(2,554)(8,998)

Other income (expense)(23)5(23)5

Total other expense(945)(3,780)(2,577)(8,993)

Income (loss) before income taxes(7,615)(2,306)(10,755)4,477

Income tax provision——12—

Net income (loss)(7,615)(2,306)(10,767)4,477

Less: net income (loss) attributable to noncontrolling interests(4,347)(2,306)(5,379)4,477

Net loss attributable to BRP Group, Inc.$(3,268)$—$(5,388)$—

Comprehensive income (loss)$(7,615)$(2,306)$(10,767)$4,477

Comprehensive income (loss) attributable to noncontrolling interests(4,347)(2,306)(5,379)4,477

Comprehensive loss attributable to BRP Group, Inc.(3,268)—(5,388)—

Basic and diluted net loss per share$(0.10)$(0.22)

Basic and diluted weighted-average shares of Class A common stock outstanding33,098,35624,371,304

BRP GROUP, INC.

Condensed Consolidated Balance Sheets

(Unaudited)

(in thousands, except share and per share data)September 30, 2020December 31, 2019

Assets

Current assets:

Cash and cash equivalents$50,220$67,689

Restricted cash7,7783,382

Premiums, commissions and fees receivable, net98,34558,793

Prepaid expenses and other current assets2,6893,019

Due from related parties4143

Total current assets159,073132,926

Property and equipment, net7,7913,322

Other assets7,9495,600

Intangible assets, net203,55592,450

Goodwill344,396164,470

Total assets$722,764$398,768

Liabilities, Mezzanine Equity and Stockholders’Equity

Current liabilities:

Premiums payable to insurance companies$83,617$50,541

Producer commissions payable12,0197,470

Accrued expenses and other current liabilities21,85112,334

Current portion of contingent earnout liabilities7,0652,480

Total current liabilities124,55272,825

Revolving lines of credit101,00040,363

Contingent earnout liabilities, less current portion78,32346,289

Other liabilities2,1942,017

Total liabilities306,069161,494

Commitments and contingencies

Mezzanine equity:

Redeemable noncontrolling interest10123

Stockholders’ equity:

Class A common stock, par value $0.01 per share, 300,000,000 shares authorized; 33,932,868 and 19,362,984 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively339194

Class B common stock, par value $0.0001 per share, 50,000,000 shares authorized; 45,247,711 and 43,257,738 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively44

Additional paid-in capital237,64482,425

Accumulated deficit(14,038)(8,650)

Notes receivable from stockholders(519)(688)

Total stockholders’ equity attributable to BRP Group, Inc.223,43073,285

Noncontrolling interest193,164163,966

Total stockholders’ equity416,594237,251

Total liabilities, mezzanine equity and stockholders’ equity$722,764$398,768

BRP GROUP, INC.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

For the Nine Months Ended September 30,

(in thousands)20202019

Cash flows from operating activities:

Net income (loss)$(10,767)$4,477

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation and amortization13,8947,253

Change in fair value of contingent consideration12,697(3,222)

Share-based compensation expense5,357110

Payment of contingent earnout consideration in excess of purchase price accrual(1,727)—

Amortization of deferred financing costs3841,117

Loss on extinguishment of debt—115

Issuance and vesting of Management Incentive Units—663

Participation unit compensation—150

Changes in operating assets and liabilities, net of effect of acquisitions:

Premiums, commissions and fees receivable, net(12,717)(441)

Prepaid expenses and other current assets230(921)

Due from related parties273

Accounts payable, accrued expenses and other current liabilities23,4185,090

Other liabilities—105

Net cash provided by operating activities30,77114,569

Cash flows from investing activities:

Capital expenditures(4,135)(1,465)

Investment in business venture—(200)

Cash consideration paid for asset acquisitions, net of cash received(695)(671)

Cash consideration paid for business combinations, net of cash received(230,403)(99,486)

Net cash used in investing activities(235,233)(101,822)

Cash flows from financing activities:

Proceeds from issuance of Class A common stock, net of underwriting discounts167,346—

Repurchase/redemption of LLC Units and Class B common stock(32,610)—

Payment of common stock offering costs(798)—

Payment of contingent and guaranteed earnout consideration(1,192)(813)

Proceeds from revolving line of credit185,63768,464

Repayments of revolving line of credit(125,000)—

Proceeds from related party debt—49,845

Payments on long-term debt—(204)

Payments of debt issuance costs and debt extinguishment costs(2,182)(15)

Proceeds from repayment of stockholder/member notes receivable169160

Repurchase of common units—(12,500)

Distributions—(9,831)

Other191,662

Net cash provided by financing activities191,38996,768

Net increase (decrease) in cash and cash equivalents and restricted cash(13,073)9,515

Cash and cash equivalents and restricted cash at beginning of period71,0717,995

Cash and cash equivalents and restricted cash at end of period$57,998$17,510

NON-GAAP FINANCIAL MEASURES

Adjusted EBITDA, Adjusted EBITDA Margin, Organic Revenue, Organic Revenue Growth, Adjusted Net Income, Adjusted Diluted Earnings Per Share (“EPS”), Pro Forma Revenue, Pro Forma Adjusted EBITDA and Pro Forma Adjusted EBITDA Margin are not measures of financial performance under GAAP and should not be considered substitutes for GAAP measures, including commissions and fees (for Organic Revenue, Organic Revenue Growth and Pro Forma Revenue), net income (loss) (for Adjusted EBITDA, Adjusted EBITDA Margin, Pro Forma Adjusted EBITDA and Pro Forma Adjusted EBITDA Margin), net income (loss) attributable to BRP Group, Inc. (for Adjusted Net Income) or diluted earnings (loss) per share (for Adjusted Diluted EPS), which we consider to be the most directly comparable GAAP measures. These non-GAAP financial measures have limitations as analytical tools, and when assessing our operating performance, you should not consider these non-GAAP financial measures in isolation or as substitutes for commissions and fees, net income (loss), net income (loss) attributable to BRP Group, Inc. or other consolidated income statement data prepared in accordance with GAAP. Other companies in our industry may define or calculate these non-GAAP financial measures differently than we do, and accordingly these measures may not be comparable to similarly titled measures used by other companies.

Adjusted EBITDA eliminates the effects of financing, depreciation, amortization and change in fair value of contingent consideration. We define Adjusted EBITDA as net income (loss) before interest, taxes, depreciation, amortization, change in fair value of contingent consideration and certain items of income and expense, including share-based compensation expense, transaction-related expenses related to Partnerships including severance, and certain non-recurring costs, including those related to raising capital. We believe that Adjusted EBITDA is an appropriate measure of operating performance because it eliminates the impact of expenses that do not relate to business performance, and that the presentation of this measure enhances an investor’s understanding of our financial performance.

Adjusted EBITDA Margin is Adjusted EBITDA divided by commissions and fees. Adjusted EBITDA Margin is a key metric used by management and our board of directors to assess our financial performance. We believe that Adjusted EBITDA Margin is an appropriate measure of operating performance because it eliminates the impact of expenses that do not relate to business performance, and that the presentation of this measure enhances an investor’s understanding of our financial performance. We believe that Adjusted EBITDA Margin is helpful in measuring profitability of operations on a consolidated level.

Adjusted EBITDA and Adjusted EBITDA Margin have important limitations as analytical tools. For example, Adjusted EBITDA and Adjusted EBITDA Margin:

•do not reflect any cash capital expenditure requirements for the assets being depreciated and amortized that may have to be replaced in the future;

•do not reflect changes in, or cash requirements for, our working capital needs;

•do not reflect the impact of certain cash charges resulting from matters we consider not to be indicative of our ongoing operations;

•do not reflect the interest expense or the cash requirements necessary to service interest or principal payments on our debt;

•do not reflect share-based compensation expense and other non-cash charges; and

•exclude certain tax payments that may represent a reduction in cash available to us.

We calculate Organic Revenue Growth based on commissions and fees for the relevant period by excluding the first twelve months of commissions and fees generated from new Partners. Organic Revenue Growth is the change in Organic Revenue period-to-period, with prior period results adjusted for Organic Revenues that were excluded in the prior period because the relevant Partners had not yet reached the twelve-month owned mark, but which have reached the twelve-month owned mark in the current period. For example, revenues from a Partner acquired on June 1, 2019 are excluded from Organic Revenue for 2019. However, after June 1, 2020, results from June 1, 2019 to December 31, 2019 for such Partners are compared to results from June 1, 2020 to December 31, 2020 for purposes of calculating Organic Revenue Growth in 2020. Organic Revenue Growth is a key metric used by management and our board of directors to assess our financial performance. We believe that Organic Revenue and Organic Revenue Growth are appropriate measures of operating performance as they allow investors to measure, analyze and compare growth in a meaningful and consistent manner.

Adjusted Net Income is presented for the purpose of calculating Adjusted Diluted EPS. We define Adjusted Net Income as net income (loss) attributable to BRP Group, Inc. adjusted for amortization, change in fair value of contingent consideration and certain items of income and expense, including share-based compensation expense, transaction-related expenses related to Partnerships including severance, and certain non-recurring costs that, in the opinion of management, significantly affect the period-over-period assessment of operating results, and the related tax effect of those adjustments.

Adjusted Diluted EPS measures our per share earnings excluding certain expenses as discussed above and assuming all shares of Class B common stock were exchanged for Class A common stock. Adjusted Diluted EPS is calculated as Adjusted Net Income divided by adjusted dilutive weighted-average shares outstanding. We believe Adjusted Diluted EPS is useful to investors because it enables them to better evaluate per share operating performance across reporting periods.

Pro Forma Revenue reflects GAAP revenue (commissions and fees), plus revenue from Partnerships in the unowned periods.

Pro Forma Adjusted EBITDA takes into account Adjusted EBITDA from Partnerships in the unowned periods and eliminates the effects of financing, depreciation and amortization. We define Pro Forma Adjusted EBITDA as pro forma net income (loss) before interest, taxes, depreciation, amortization, change in fair value of contingent consideration and certain items of income and expense, including share-based compensation expense, transaction-related expenses related to Partnerships including severance, and certain non-recurring costs, including those related to raising capital. We believe that Pro Forma Adjusted EBITDA is an appropriate measure of operating performance because it eliminates the impact of expenses that do not relate to business performance, and that the presentation of this measure enhances an investor’s understanding of our financial performance.

Pro Forma Adjusted EBITDA Margin is Pro Forma Adjusted EBITDA divided by Pro Forma Revenue. Pro Forma Adjusted EBITDA is a key metric used by management and our board of directors to assess our financial performance. We believe that Pro Forma Adjusted EBITDA is an appropriate measure of operating performance because it eliminates the impact of expenses that do not relate to business performance, and that the presentation of this measure enhances an investor’s understanding of our financial performance. We believe that Pro Forma Adjusted EBITDA Margin is helpful in measuring profitability of operations on a consolidated level.

Adjusted EBITDA and Adjusted EBITDA Margin

The following table reconciles Adjusted EBITDA and Adjusted EBITDA Margin to net income (loss), which we consider to be the most directly comparable GAAP financial measure to Adjusted EBITDA and Adjusted EBITDA Margin:

For the Three Months

Ended September 30,For the Nine Months

Ended September 30,

2020201920202019

Commissions and fees$65,843$38,383$171,270$101,280

Net income (loss)$(7,615)$(2,306)$(10,767)$4,477

Adjustments to net income (loss):

Amortization expense5,1853,08213,2316,793

Change in fair value of contingent consideration6,45553512,697(3,222)

Share-based compensation2,2403825,357773

Interest expense, net9223,7852,5548,998

Depreciation expense258184663460

Transaction-related Partnership expenses2,9045006,7721,535

Severance related to Partnership activity(324)—89300

Capital related expenses—1,1241,0002,214

Income tax provision——12—

Other899921,733391

Adjusted EBITDA(1)$10,924$7,378$33,341$22,719

Adjusted EBITDA Margin17%19%19%22%

__________

(1)Adjusted EBITDA for the nine months ended September 30, 2019 is higher than the sum of Adjusted EBITDA for the first three quarters of 2019 as disclosed in our earnings releases in 2020 as a result of rounding numbers in the prior periods.

Organic Revenue and Organic Revenue Growth

The following table reconciles Organic Revenue to commissions and fees, which we consider to be the most directly comparable GAAP financial measure to Organic Revenue:

For the Three Months

Ended September 30,For the Nine Months

Ended September 30,

(in thousands, except percentages)2020201920202019

Commissions and fees$65,843$38,383$171,270$101,280

Partnership commissions and fees(1)(19,637)(17,520)(54,569)(36,749)

Organic Revenue$46,206$20,863$116,701$64,531

Organic Revenue Growth(2)$7,809$2,297$15,393$5,479

Organic Revenue Growth %(2)20%12%15%9%

__________

(1)Includes the first twelve months of such commissions and fees generated from newly acquired Partners.

Adjusted Net Income and Adjusted Diluted EPS

The following table reconciles Adjusted Net Income to net income (loss) attributable to BRP Group, Inc. and reconciles Adjusted Diluted EPS to diluted loss per share attributable to BRP Group, Inc. Class A common stock:

(in thousands, except per share data)For the Three Months Ended September 30, 2020For the Nine Months Ended September 30, 2020

Net loss attributable to BRP Group, Inc.$(3,268)$(5,388)

Net loss attributable to noncontrolling interests(4,347)(5,379)

Amortization expense5,18513,231

Change in fair value of contingent consideration6,45512,697

Share-based compensation2,2405,357

Transaction-related Partnership expenses2,9046,772

Capital related expenses—1,000

Amortization of deferred financing costs189384

Severance related to Partnership activity(324)89

Other8991,733

Adjusted pre-tax income9,93330,496

Adjusted income taxes(1)9833,019

Adjusted Net Income$8,950$27,477

Weighted-average shares of Class A common stock outstanding - diluted33,09824,371

Dilutive effect of unvested restricted shares of Class A common stock759483

Exchange of Class B shares(2)45,28844,767

Adjusted dilutive weighted-average shares outstanding79,14569,621

Adjusted Diluted EPS$0.11$0.39

Diluted loss per share$(0.10)$(0.22)

Effect of exchange of Class B shares and net loss attributable to noncontrolling interests per share—0.07

Other adjustments to net loss per share0.220.58

Adjusted income taxes per share(0.01)(0.04)

Adjusted Diluted EPS$0.11$0.39

___________

(1)Represents corporate income taxes at assumed effective tax rate of 9.9% applied to adjusted pre-tax income.

(2)Assumes the full exchange of Class B shares for Class A common stock pursuant to the Amended LLC Agreement.

Pro Forma Revenue

The following table reconciles Pro Forma Revenue to commissions and fees, which we consider to be the most directly comparable GAAP financial measure to Pro Forma Revenue:

For the Three Months

Ended September 30,For the Nine Months

Ended September 30,

(in thousands)2020201920202019

Commissions and fees$65,843$38,383$171,270$101,280

Revenue for Partnerships in the unowned period(1)23243030,69014,769

Pro Forma Revenue$66,075$38,813$201,960$116,049

___________

(1)The adjustments for the three months ended September 30, 2020 reflect commissions and fees revenue for Fletcher Financial Group, Inc. and Medicare Insurance Advisors, Inc. as if the Company had acquired the Partners on January 1, 2020. The adjustments for the nine months ended September 30, 2020 reflect commissions and fees revenue for AgencyRM LLC, VibrantUSA Inc., Insurance Risk Partners, LLC, Southern Protective Group, LLC, Pendulum, LLC, Rosenthal Bros., Inc., Trinity Benefit Advisors, Inc./Russ Blakely & Associates, LLC, Fletcher Financial Group, Inc. and Medicare Insurance Advisors, Inc. as if the Company had acquired the Partners on January 1, 2020. The adjustments for the three months ended September 30, 2019 reflect commissions and fees revenue for Foundation Insurance of Florida, LLC and one asset acquisition for the unowned period as if the Company had acquired the Partners on January 1, 2019. The adjustments for the nine months ended September 30, 2019 reflect commissions and fees revenue for Lykes Insurance, Inc., Millennial Specialty Insurance LLC, Fiduciary Partners Retirement Group, Inc. and Foundation Insurance of Florida, LLC, as well as two asset acquisitions for the unowned period, as if the Company had acquired the Partners on January 1, 2019. This unaudited pro forma information should not be relied upon as being indicative of the historical results that would have been obtained if the acquisitions had occurred on that date, nor the results that may be obtained in the future.

Pro Forma Adjusted EBITDA and Pro Forma Adjusted EBITDA Margin

The following table reconciles Pro Forma Adjusted EBITDA and Pro Forma Adjusted EBITDA Margin to net income (loss), which we consider to be the most directly comparable GAAP financial measure to Pro Forma Adjusted EBITDA and Pro Forma Adjusted EBITDA Margin:

For the Three Months

Ended September 30,For the Nine Months

Ended September 30,

(in thousands)2020201920202019

Pro Forma Revenue$66,075$38,813$201,960$116,049

Net income (loss)$(7,615)$(2,306)$(10,767)$4,477

Net income (loss) for Partnerships in the unowned period(1)271369,885(472)

Pro Forma Net Income (Loss)(7,588)(2,170)(882)4,005

Adjustments to pro forma net income (loss):

Interest expense, net9223,7853,99713,011

Amortization expense5,2063,08216,1358,652

Change in fair value of contingent consideration6,45553512,697(3,222)

Share-based compensation2,2403825,357773

Transaction-related Partnership expenses2,9045006,7721,535

Depreciation expense258184663460

Severance related to Partnership activity(324)—89300

Capital related expenses—1,1241,0002,214

Income tax provision——12—

Other899921,733391

Pro Forma Adjusted EBITDA(2)$10,972$7,514$47,573$28,119

Pro Forma Adjusted EBITDA Margin17%19%24%24%

___________

(1)The adjustments for the three months ended September 30, 2020 reflect net income (loss) for Fletcher Financial Group, Inc. and Medicare Insurance Advisors, Inc. as if the Company had acquired the Partners on January 1, 2020. The adjustments for the nine months ended September 30, 2020 reflect commissions and fees revenue for AgencyRM LLC, VibrantUSA Inc., Insurance Risk Partners, LLC, Southern Protective Group, LLC, Pendulum, LLC, Rosenthal Bros., Inc., Trinity Benefit Advisors, Inc./Russ Blakely & Associates, LLC, Fletcher Financial Group, Inc. and Medicare Insurance Advisors, Inc. as if the Company had acquired the Partners on January 1, 2020. The adjustments for the three months ended September 30, 2019 reflect commissions and fees revenue for Foundation Insurance of Florida, LLC and one asset acquisition for the unowned period as if the Company had acquired the Partners on January 1, 2019. The adjustments for the nine months ended September 30, 2019 reflect commissions and fees revenue for Lykes Insurance, Inc., Millennial Specialty Insurance LLC, Foundation Insurance of Florida, LLC and Fiduciary Partners Retirement Group, Inc., as well as two asset acquisitions for the unowned period, as if the Company had acquired the Partners on January 1, 2019. This unaudited pro forma information should not be relied upon as being indicative of the historical results that would have been obtained if the acquisitions had occurred on that date, nor the results that may be obtained in the future.

(2)Pro Forma Adjusted EBITDA for the nine months ended September 30, 2019 is higher than the sum of Pro Forma Adjusted EBITDA for the first three quarters of 2019 as disclosed in our earnings releases in 2020 as a result of rounding numbers in the prior periods.

COMMONLY USED DEFINED TERMS

The following terms have the following meanings throughout this press release unless the context indicates or requires otherwise:

Clients Our insureds

Colleagues Our employees

GAAP Accounting principles generally accepted in the United States of America

Partners Companies that we have acquired, or in the case of asset acquisitions, the producers

Partnerships Strategic acquisitions made by the Company

EX-101.SCH

brp-20201112.xsd

XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT

0001001 - Document - DEI Document

link:presentationLink

link:calculationLink

link:definitionLink

EX-101.CAL

brp-20201112_cal.xml

XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT

EX-101.DEF

brp-20201112_def.xml

XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT

EX-101.LAB

brp-20201112_lab.xml

XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT

Written Communications

Pre-commencement Tender Offer

Entity Incorporation, State or Country Code

Entity Address, City or Town

Soliciting Material

Entity Address, Address Line One

Security Exchange Name

City Area Code

Cover [Abstract]

Entity Tax Identification Number

Entity File Number

Document Type

Entity Central Index Key

Entity Ex Transition Period

Entity Emerging Growth Company

Title of 12(b) Security

Local Phone Number

Entity Address, State or Province

Amendment Flag

Entity Address, Postal Zip Code

Trading Symbol

Pre-commencement Issuer Tender Offer

Document Period End Date

Entity Registrant Name

EX-101.PRE

brp-20201112_pre.xml

XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT

GRAPHIC

brplogo1.jpg

BRP LOGO

begin 644 brplogo1.jpg

M_]C_X 02D9)1@ ! 0(!>@%Z #_X4O2:'1TG)E4WI.5&-Z:V,Y9"(_/CQX.GAM&UL;G,Z>#TB861O8F4Z;G,Z

M;65T82\B('@Z>&UP=&L](D%D;V)E(%A-4"!#;W)E(#4N,RUC,#$Q(#8V+C$T

M-38V,2P@,C Q,B\P,B\P-BTQ-#HU-CHR-R @(" @(" @(CX*(" @/')D9CI2

M1$8@>&UL;G,Z6YT87@M;G,C(CX*(" @(" @/')D9CI$97-C&UL;G,Z9&,](FAT=' Z+R]P=7)L+F]R9R]D

M8R]E;&5M96YT&UL.FQA;F$$[1W)A7!E.B @(" @(" @("!!$$[)B-X03LM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM

M+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM

M+2TM+2TM+2TM+2TM+2TM+2TM+2TF(WA!.SPO&%P+S$N,"\B"B @(" @(" @(" @('AM;&YS.GAM&%P+S$N,"]G+VEM9R\B/@H@(" @(" @

M(" \>&UP.DUE=&%D871A1&%T93XR,#$Y+3$P+3 S5#$P.C$Y.C0T+3 W.C P

M/"]X;7 Z365T861A=&%$871E/@H@(" @(" @(" \>&UP.DUO9&EF>41A=&4^

M,C Q.2TQ,"TP,U0Q,#HQ.3HT-"TP-SHP,#PO>&UP.DUO9&EF>41A=&4^"B @

M(" @(" @(#QX;7 Z0W)E871E1&%T93XR,#$Y+3$P+3 S5#$P.C$Y.C0S+3 W

M.C P/"]X;7 Z0W)E871E1&%T93X*(" @(" @(" @/'AM&UP1TEM9SIW:61T

M:#XR-38\+WAM&UP1TEM9SIH96EG:'0^"B @(" @(" @(" @(" @

M(" @(#QX;7!'26UG.F9OF%'.7=)1$UU34%!-%%K;$Y!*S!!

M04%!04%"04)K04%!04%%028C>$$[05%'44%!04%!44%"+RLT041K1FMB,DIL

M04=404%!04%!9B]B04E104)G445"055%0F=51D)G:T="45E*0W=G1T)G9TQ$

M06]+0W=O2R8C>$$[1$)!341!=TU$07=11$$T4$5!.$]$0DU41D)15$5X=V)'

M>'-C2'@X9DAX.&9(>#AF2'=%2$)W8TY$03!914)!64=H55)&4F]F2'@X9B8C

M>$$[2'@X9DAX.&9(>#AF2'@X9DAX.&9(>#AF2'@X9DAX.&9(>#AF2'@X9DAX

M.&9(>#AF2'@X9DAX.&9(>#AF+SA!04519T%3045!07=%4B8C>$$[04%)4D%1

M35)!9B]%06%)04%!04A!445"05%%04%!04%!04%!04%11D%W24=!44%(0T%K

M2T-W14%!9TE$05%%0D%114%!04%!04%!028C>$$[05%!0T%W449"9V-)0U%O

M3$5!04-!44U$06=10T)G8T1"04E'06Y-0D%G35)"04%&25))>%%614=%,D5I

M8UE%54UP1VA">%=X46E00B8C>$$[571(:$UX6FDX0U)Y9W9%;%%Z4E1K<4MY

M63-00TY546YK-D]Z3FAD55I(5$0P=4E)2F]-2D-H9UIH2E)&4G%3,%9T3E9+

M0G)Y-"]0128C>$$[,4]4,%I85T9L85&18;#E76C)H4YJ;RM#:S535FQP95EM6B8C

M>$$[<6)N2C)E;C5+:G!+5VUP-FEP<7%U28C>$$[;V)(=T9-

M2%(T4TY#1E9*:6-V17I*1%)$9VAA4U5Y5VE9-TQ#0C-04TYE2D5G>&15:W=G

M2D-H9UI*:EI&1VED:V1&53,X<4]Z=WEG$$[,"M0>FA*4VMT3515-5!2

M;&195U9P8EA&,658,5)L6FUD;V%74YJ;R8C>$$[*T1L2E=7;#5I6FUP=6-N6C9F:W%/:W!A

M86YQ2VUQ<39Y=')Q*W8O84%!=T1!44%#15%-4D%$.$$Y531Q-T959S@O.$%M

M02M8=DIE$$[-G5S=F]Z,C%S+S%75&IZD1$:6U!>&Y+:&)Z:CAN4$]7=F$Q$$[,DI32D%S871W5G9S<4\K875/42]M$$[9$5-9%%!

M.&Y82$IC>69.-G0K9FYN5'I$;V0WD5)2"8C>$$[:V(O6CEO8R]*66I96G0K

M56YM-C4X,6523E Q4SEM:FTQ365P0G%":D%7:W-4;%%75F1L6C0K1&M$8C1T

M='-Y.5)I-$IK9$9X>31H8B8C>$$[36-O6G5X5C)+=7A6:&XU>7I3=R]L:#5G

M;&AD;S5&='=69$-6669V1C9%6F1P+W)$1$HY2F9'4#9B,7(O04IB-VXO:V1*

M+UA.>G=J=28C>$$[9&)X>3'8P-4Q027 K.$YJ=T1U

M6&IL,W-O,% X-B]Z3C!E55!&$$[=$Y!.4=C8SAH,6914#55+VYX3A78U,R-G968R8C>$$[>%%8T+SA!.#51,U8Q8F513E!K='!N:&,VE!U8V95:VE/,V4K6'8P,W)8+TQF8R\X028C>$$[2394*W5B4&A(8S182$QV

M4DYP-70X,5=B0G)05V(V,EE%:TY$8WI2:T5I:%!WCDO33-2$$[='=A=&(S-FE93B]Z,"M'5691*U5Z,'-$

M,'!T:G%*0CE%9FQD*V-U9RME;WIA.% P9G)K4SAP8D(R1$(Q2%8T6#(U9V1X

M4V\O2$YF;B8C>$$[,#5H-VY,>#523#-V47-X,C$R2W5X5CAP+W=$3U-M$$[.6$O-6(W;B]!2DA39C%Z2S12,T]0>'DW,%)A96$O3DYM=V$P,6TK=#)"

M<4=I=5IK3F%5$$[-DA.1TQU

M."]43FE'$$[2#EL=T]X+UIB;V9N5417

M6F-29V%,;7=M2D-W>51+,F)S5F5"9FY(-6EV4$]F;5=Z.&EA0E=224QN:&1.

M5#1(=6A65%=I$$[:B]R8F9#1&TT,&5%631(3%!U*WHY$$[=%90:#%9>5,K;5(O669K2$I)26IT>EE:<5@U8GDS4#58

M6'9M9TI7-70W=$AH1D-38E)+>%1&3TI05U-11G51,D5F=FY5-7-V-W=29"8C

M>$$[6FEX9G5Z2DUF271U+W=#64=Q-E):871'6F)'=W,PG5P>'E'$$[;V99=B],

M:E9:=GEV+TU8579+,G1/;S!U.6M32G(R5#1&6&I6$$[435B<7 m o8e-t9ca m:s9u8f>$$[9F(Y>G Y:&1'='IB4E1M;D=S:4LK,V@X

M44\R85%%:#)B0R]/6#5,95$O33%J3$=D3F@P-B]+;C!,*WIJ5T8Q9G-85D%Q

M>4-V54U/;B8C>$$[46I,"]Q3FQQ;FQR>D9C5VI/64Y4

M,&DV6D),1V%&6EE(,F1$.#%Q1&TS0D5O,S!,$$[2BMK-C111FMV$$[1S%8,"]&

M-6@O=T$T>"\X06MZ4"MJ0S0O5VU:5W0K:C1T3VTK$$[=694>DPX>"\K8V902VUU

M861C6%AL-C!J,&Y8155V06M&23=A6F=+*VTX6#)%-61!>3!P,W)M5&@Q8V]N

M9F-.1U1!0TYT:2M89$$$[52],,G57=7 R8D=$54Y/;45I5C=-:&]Y

M4)W2R8C>$$[*S-,3DA+3D5H,F=.:$FLU+S5->B]!

M2TU,9CEB-71T1CE(>&-$52]6.$AQ;B]!1&DK<78X06QR8V\T1$LR$$[3S1)355.45)M2G)F$$[;7IN6MM2U-&0E8S:D1%;$=29FEO1%%G8D-V6$XP*W%.,4IX#4P;CAQ*V9,0V-Y8V1/=G!&$$[1DMW54]E=CDR>$0O04AJ

M=FU8<4UF1D$Y-U)G;G=Y.3CAX9FU$-4LX=65O=7,V>&)73!05W9(3B8C>$$[5$1$3UA)3V9+64A.-#$U;"]/;GI8-3)V

M4C5F.&=73C%B>'E%1G)M4&$W9%!H5W!:5'AT;W$$[8V5757DR:3E*+TQ0.'1D33AK85$Q,V5V2$QR17-F3R]V

M;F]%:%5,5F\T,F(W36$O=$XK,3%0641',5=Q;&Q.1#97,TAJ15%X6'I:$$[$$[3#@S,C%T

M*U@X='!W:"MU=T$R:U9S>6=R26ML84]5-#A307!B;%AQ4G8Y'E(2C5Z-5%U3B8C>$$[6"],=GI,8C-S.7))3D8Q

M5DXK4S!-;'9Y#8U-3DX:28C>$$[84PU*S!/0V%'9%5U-&Q-;6TV9VYX2U$T

M,U)W3W%.5#5G+U-$4%0V:5='6&PQ1&Q49TIH-6)O;C5O9610>3-U;W9,,VY$

M5'!B:E19;"8C>$$[5F)EG4Q46Y+1WAE=RM74'I,.&IE6FI(2'!'4XV3B8C

M>$$[>5=64%593$1*>&0K2SE7545B2&9B3EAK=U1H>D1K4FU$>5I.;%1*,DMS

M2B]/=CA!.&Q:-6DO-6AH+WEC5$QT4"]E0FAL*VMV:R\X028C>$$[2S5DO

M;&XO='!7=B]*,6,R,F8V1#=N6#1F<40W;7I2=7ID:7(T=2]06G):=GI9.'='

M,G V9G%W:'%F-SA&=D=*4"M3;DQ.>G!F-R8C>$$[B]76#!D+WIJ.$-0

M>6DP04554#A!$$[6FUH*W,K-7AT5CE0>&599C@T>"\K5$TO

M-DU,:CEA6FQA,S90:3 V8C9V9RMT33%,;G5X5CA,9FU82$1(*UEF;59)449J

M6%4W=6ER,"8C>$$[2#DPY4F97+S5.;5DO;&8U8SEB

M-V8Q4F%D4',X:GF1I$$[2FUF.4=&=BMT.#(R:2MJ-'5"<69Q*T0Q6"]N1C,O>5A&>"\R,' O*U15

M3UEM="MV-$]2$$[8FEV5#!Y

M28C>$$[16%Q3C(K;D].>EDY6%I-

M2FM$;T)):CEJ='5'2C5H0F%*$Y$:V=S24,V<7IA8D@Y5VIL8C1A

M2S=',RM-=598-U5N26M::B8C>$$[>C%EG U=S%#2%1,6#!D4#!767%':F%D5E1KEIA

M1'1N5$@V=B8C>$$[5%!Z+T%%2&PX-F-B55EC:W1H.4PQ5'DU-6,P9GEH;VYP

M4G-'96=A.'9'1DAM8V4R.4)V.$LY=FY5;2]787=20FY-,45.=4A#24-G=R8C

M>$$[1SES26YV$$[1F5#4E)2

M4VQ0#AU-SE"+TAU8UA,:45H4F5B5RMS-G@K

M6"MP>3):66%H$$[8T@W4S K+UDU='AN,"MQ

M=4U:1'A9.'@Q+V(K:GED5U!&,#4S,V@K4&MT,5AZ$$[.4UK0W!(14$U>BMQ:G)S8S9I2TAF2&-F

M32]Q1',X96)(:TA.3'9+=C5"83-P6&U84V9-3G102'!R,DYX2$Q,07,W$$[2#%):7E%0C9B-6Q99%9Q>D=S;D-19FXY;7EF1&E$664X

M6EEZ9&ER0V9Z$$[+TU4>3(X:D)%6%5B67-Z1V=!17$Q2DIZ8EHO;U!U9&9H*V]0=&EB>D)O

M34MC-713=%EK-F-N;FI59F57>E,X2C=N6C)W:GIT*V4S:R8C>$$[4'DU67I'

M,'8T9%DQ44M28C)6;31L5752=#9K<6-O,%5(5!+9S%4>E)I

M*U5R93(X=V5D4$Y:4T9$9#9ZG-&1B8C>$$[05AL67,W2'-Q3#%0641.

M<5-)4CAG-$%";DPS=G0W>7 U9G0O3'9L=E1D171Z>6IS245H3&=5-7-".&(P

M+W=!=#9T;6QN3&EK4S=/228C>$$[;U5M=5%3-T98:E@O041L5B]W0U,Y,"\O

M04QA.% O54YC6FUA2#9Z-VY',5@P+T8U:"]Z:D@O-4UZ+V]W=5 Q$$[1#8P>E5U97=N.'EF>E3=$9TUZ-4YE5$E):#AC,F1P<79M4"8C

M>$$[>D)(8E%G,T]Q87)C,$)05C5:,W%763ET>E5N3G=326IY1')G1$DK.3DS

M-DAP54]K84Q9859!955.:&)X5W-B155*5T9!9TY09FIM:B8C>$$[;$MY4S=1

M0V=J8VEL,DMV:W8O;DIZ+WE:;B]2:&(O&-F.71+9B]K,41M2G)F$$[6'(K66IE.&0O3R\X-4Y#

M,&YY+V4K6#E'=6\W,UB8C>$$[9E!V-5@K5DHO3DAN:E-T3%)#.$AR3%!E

M$$[6F=K:4YJ2$ER9%9:23!G5U0V835I46A$;WIN3V962"]!

M2F%A1"M6$$[3U%:4#1567I$*THW$$[:G5T=5-'

M5IP4T5";$UV0T(R+U18

M9BMH=$$W;6)X5W5L3G!8;W%Q3G W2U,S228C>$$[+T13=%-35'5+2#=S-VI"

M:7=E0E5A.$MV>"M/:E-B=&AS5'!#8G!.3VQL3F]W24I/>$ME3%4O6&Y$6DUP

M:$]9=T=8069U."]X.3E.=R8C>$$[2&5I=DPY:#56=5I22&0P;G9'0D@Q931!

M.4DK4$9D,6)9.4$$[='DQ.$-166)90S1T1DMJ;UI*5U)V:DHK,&IU0E$W6C,K

M1V55+U5(5#5O66@Y2EEV-6$X,R]M4$))='8U875D46Y-2T957>

XML

brp-20201112_htm.xml

IDEA: XBRL DOCUMENT

0001781755

2020-11-12

false

0001781755

8-K

2020-11-12

BRP Group, Inc.

001-39095

61-1937225

4211 W. Boy Scout Blvd.

Tampa

33607

866

279-0698

false

Class A Common Stock, par value $0.01 per share

BRP

NASDAQ

true

false

XML

R1.htm

IDEA: XBRL DOCUMENT

v3.20.2

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

dei_CoverAbstract

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation 12B

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation 12B

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 7A

-Section B

-Subsection 2

+ Details

Name:

dei_EntityExTransitionPeriod

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation 12B

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation 12B

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Section 14a

-Number 240

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

EXCEL

Financial_Report.xlsx

IDEA: XBRL DOCUMENT

begin 644 Financial_Report.xlsx

M4$L#!!0 ( ,N!;%$'04UB@0 +$ 0 9&]C4')OQLOD&1#LD)^OCG!CVX>;QA&WPIG

M*N*I#BV&5(_C(I(/ !47BK9.7:=N')=HI6-Y #OGDK7A.YNJQJ=0U[R;UEA_6\#MI7E!+ P04

M " #+@6Q1!?8T%^X K @ $0 &1O8U!R;W!S+V-O&ULS9+!

M:L,P#(9?9?B>*'9'#R;U96.G%@8K;.QF;+4UBQUC:R1]^R5>FS*V!]C1TN]/

MGT"MB=+T"9]3'S&1PWPW^BYD:>*&G8BB!,CFA%[G>DJ$J7GHD]M&,]CU\(-,,,(D\_?!;0+L53_Q)8.L$MRS&Y)#/

MC:^"JH5?=Z&^ %!+ P04 " #+@6Q1F5R621A'^_1S80RY8-[9)-NIL\!"SI^\Y%1^?H.'GS[BYBZ(:(E/)X

M8-DOV]:[MR_>X%#BVR]*+

M41B1%G\@M

MNN01.+5)#3(3/PB=AIAJ4!P"I DQEJ&&^+3&K!'@$WVWO@C(WXV(]ZMOFCU7

MH5A)VH3X$$8:XIQSYG/1;/L'I4;1]E6\W*.76!4!EQC?-*HU+,76>)7 \:V<

M/!T3$LV4"P9!AI@S

M&L%&KQMUAVC2/'K^!?FACA*FNVB<5@$_9Y>PTG!Z(++9OVX?H;5,VPLCO='U!=*Y \FIS_I,C0'

MHYI9";V$5FJ?JH,@H%\;D>/N5Z> HWEL:\4*Z">P'_T=HWPJOX@L Y

M?RY]SZ7ON?0]H=*W-R-]9\'3BUO>1FY;Q/NN,=K7-"XH8U=RSTS0LS0[=R2^JVE+ZU)CA*

M]+',RPP[9SR2';9WH!TU^_9==N0CI3!3ET.X&D*^ VVZG=PZ.)Z8D;D*

MTU*0;\/YZ<5X&N(YV02Y?9A7;>?8T='[Y\%1L*/O/)8=QXCRHB'NH8:8S\-#

MAWE[7YAGE<90-!1M;*PD+$:W8+C7\2P4X&1@+: '@Z]1 O)256 Q6\8#*Y"B

M?$R,1>APYY=<7^/1DN/;IF6U;J\I=QEM(E(YPFF8$V>KRMYELF4Q9Z;RWRT,"2Q;B%D2XDU=[=7GFYRN>B)V^I=W

MP6#R_7#)1P_E.^=?]%U#KG[VW>/Z;I,[2$R<><41 71% B.5' 86%S+D4.Z2

MD 83 >LX=SFWJXPD6L_UC6'ODRWSEPVSK> U[F

M$RQ#I'[!?8J*@!&K8KZZKT_Y)9P[M'OQ@2";_-;;I/;=X Q\U*M:I60K$3]+

M!WP?D@9CC%OT-%^/%&*MIK&MQMHQ#'F 6/,,H68XWX=%FAHSU8NL.8T*;T'5

M0.4_V]0-:/8--!R1!5XQF;8VH^1."CS&PO=V]R:W-H965T&UL

ME9A=)N6^LK4T_>YX)UB+FIJE2

MD< W2Z5C;F&H5YY)M>!A'A1''O/]CA=SF32&@_S>3 \'*K.13,1,$Y/%,=?[

ML8C4]KY!&Z?7)_7'?/(PF04W8J*B=QG:]7VCUR"A6/(LLJ]J^[,X3B@'#%1D\K]D>WBV

MW6Z0(#-6Q<=@((AE5)#!0MN!9T'1W?>"8_3X$,TN1+^H39-0

M=D.8S_Q_AGL 4M"P@H;E>JT+>A.U$9K\,5H8JV&__D0D6X5D*Y=L7Y

81>4I"L2-?Q+Z*"%?R?9]V

M>[1[=X=@W158=ZC8:>_)VSX552QX>._V"P+1*2 ZUT',A)8J)-,D))#-E3RX

MTBDAO_OTJ28ENP5;]YI]>Q4KZ9(2(%]X7$F&ZXQ?9^0GK;+T!O8^:")DO8*L

M=PT9J"F=*LV=R]V0N86%(TJ3B@WA* RU,.;F=$&>X3GR+:G11)0^N4LM3^CW%S7JFQ6T RR/@_3IT

M%=!\04?W;;F\L'^X7AT9*XV?X2[]'[(G8S(@JP.LD:T%+'V?X2;])BU42;6$

M[N6'Q8]D+H(,\JVR/:Q1FD0;_J4I#!K

ML^8:I3_KVVM\6_/09>%\'R]490[6"$![A(&4ML]PBSZM&YGN@C5/5N)BNU8C

M]#*:/XQ^P9A*OV=7^?TT%GKE%@G:P*U=N_U)>5*]P[B@U1FZ;:7;,]RL3V0[

M AL()^V\$SHTX958N-K%E\$[.Y^ZL_Y7[A;"D$@L0&PO+]*V-!^TQCG.+HH6M9;QWPN@^#E&3IZ73/%!>:%ID>U(/"

MGE1FT)C3$V5%UAB],Z]I)'PI5T N7.;T Y>B=&*NY4K(*=)I("HCC2/HK4!.

MD\#TSS&=1!1#!7#R3

M+U)DB"V-@E=J2*3T 0[3K1=^**Q+"01C?)!

M+7AK-)\]K".6P,M6(.53V,*OS97VV)"X%Q_KL TD3'4-O:$EC#(1!/VC6M0^

MR-[]D2RQXF+P_>!GHV?\;3 (CPX:,OZ[Z]R"!L?E

MT;0_^O_R*O^.8[;, ?0(8@S9?$6!/D!5J(/V!(%BD6=OZ_:I7&0"QEY/3P2W!YI0.TX

MI+:+J1C]$%)I6M6X 4BV)8]ISI%"KM0L'C6'TD!$VV-#L%HL/D N&6:WO606

MIW.D5XA-/E

M_G;@2=&A(E@6FD7)TZ(=I7\=Q_:0T^FO8R*T>EOH^7%H5 J.W&,EC'%BM/XU

M@LD/['X 4$L#!!0 ( ,N!;%%M=SZY-@$ "D" / >&PO=V]R:V)O

M;VLN>&ULC5'+;L(P$/R5R!_0!-0B%1$NI0^DJD6EXFZ2#5EA>Z/U!EJ^OIM$

M49%ZZV=5X9KPX$Q_W1,?DR[L0I=,LFZ7>8C#+Q:BUX?0:D$ A2$')CM@AG./OO(/)"2/NT:%\YZ:_

M.S")QX >+U#F)C-)K.G\0HP7"F+=MF!R+C>38; #%BS^T-O.Y*?=QYX1N_^P

M:B0WLTP%*^0H_4:O;]7C"71Y0*W0$SH!7EF!9Z:VP7#H9#1%>A6C[V$\AQ+G

M_)\:J:JP@!45K8EPGXUH72]]9ET-$46]7A?$<

M="5;CDG'7UK^

M %!+ P04 " #+@6Q1)!Z;HJT #X 0 &@ 'AL+U]R96QS+W=O[IFBG#S^0W1UW6E\./VR./ /,+Q=Z*E%9"E*%1KD

M3,)HMC;!4N++3):BJ#(9BBJ61,)KM\,

M9(9 0 SP, !, !;0V]N=&5N=%]4

M>7!E&ULK9--3L,P$(6O$F5;)2XL6*"F&V +77 !8T\:J_Z39UK2VS-.

MVDJ@$A6%3:QXWKS/GI>LWH\1L.B=]=B4'5%\% )5!TYB'2)XKK0A.4G\FK8B

M2K636Q#WR^6#4,$3>*HH>Y3KU3.T.EY&TWP39G 8ED\CL?E.I$J+EST&!G(BY84(JKA%SY'7#J>SM 2D9#L9&)7J5CE>BM0#I:

MP'K:XLH90]L:!3JHO>.6&F,"J;$#(&?KT70Q32:>,(S/N]G\P68*R,I-"A$Y

ML01_QYTCR=U59"-(9*:O>"&R]>S[04Y;@[Z1S>/]#&DWY(%B6.;/^'O&%_\;

MSO$1PNZ_/[&\UDX:?^:+X3]>?P%02P$"% ,4 " #+@6Q1!T%-8H$ "Q

M $ @ $ 9&]C4')O&UL4$L! A0#% @ RX%L

M4&UL4$L! A0#% @ RX%L49>*NQS

M $P( L ( !E0X %]R96QS+RYR96QS4$L! A0#%

M @ RX%L46UW/KDV 0 *0( \ ( !?@\ 'AL+W=O$0 !X;"]?7!E&UL4$L%!@ ) D /@( ! 3 $!

end

XML

Show.js

IDEA: XBRL DOCUMENT

// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.

var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);

e.removeAttribute('id');a.parentNode.appendChild(e)}}

if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}

e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}

XML

report.css

IDEA: XBRL DOCUMENT

/* Updated 2009-11-04 */

/* v2.2.0.24 */

/* DefRef Styles */

..report table.authRefData{

background-color: #def;

border: 2px solid #2F4497;

font-size: 1em;

position: absolute;

}

..report table.authRefData a {

display: block;

font-weight: bold;

}

..report table.authRefData p {

margin-top: 0px;

}

..report table.authRefData .hide {

background-color: #2F4497;

padding: 1px 3px 0px 0px;

text-align: right;

}

..report table.authRefData .hide a:hover {

background-color: #2F4497;

}

..report table.authRefData .body {

height: 150px;

overflow: auto;

width: 400px;

}

..report table.authRefData table{

font-size: 1em;

}

/* Report Styles */

..pl a, .pl a:visited {

color: black;

text-decoration: none;

}

/* table */

..report {

background-color: white;

border: 2px solid #acf;

clear: both;

color: black;

font: normal 8pt Helvetica, Arial, san-serif;

margin-bottom: 2em;

}

..report hr {

border: 1px solid #acf;

}

/* Top labels */

..report th {

background-color: #acf;

color: black;

font-weight: bold;

text-align: center;

}

..report th.void{

background-color: transparent;

color: #000000;

font: bold 10pt Helvetica, Arial, san-serif;

text-align: left;

}

..report .pl {

text-align: left;

vertical-align: top;

white-space: normal;

width: 200px;

white-space: normal; /* word-wrap: break-word; */

}

..report td.pl a.a {

cursor: pointer;

display: block;

width: 200px;

overflow: hidden;

}

..report td.pl div.a {

width: 200px;

}

..report td.pl a:hover {

background-color: #ffc;

}

/* Header rows... */

..report tr.rh {

background-color: #acf;

color: black;

font-weight: bold;

}

/* Calendars... */

..report .rc {

background-color: #f0f0f0;

}

/* Even rows... */

..report .re, .report .reu {

background-color: #def;

}

..report .reu td {

border-bottom: 1px solid black;

}

/* Odd rows... */

..report .ro, .report .rou {

background-color: white;

}

..report .rou td {

border-bottom: 1px solid black;

}

..report .rou table td, .report .reu table td {

border-bottom: 0px solid black;

}

/* styles for footnote marker */

..report .fn {

white-space: nowrap;

}

/* styles for numeric types */

..report .num, .report .nump {

text-align: right;

white-space: nowrap;

}

..report .nump {

padding-left: 2em;

}

..report .nump {

padding: 0px 0.4em 0px 2em;

}

/* styles for text types */

..report .text {

text-align: left;

white-space: normal;

}

..report .text .big {

margin-bottom: 1em;

width: 17em;

}

..report .text .more {

display: none;

}

..report .text .note {

font-style: italic;

font-weight: bold;

}

..report .text .small {

width: 10em;

}

..report sup {

font-style: italic;

}

..report .outerFootnotes {

font-size: 1em;

}

XML

FilingSummary.xml

IDEA: XBRL DOCUMENT

3.20.2

html

false

R1.htm

0001001 - Document - DEI Document

Sheet

http://baldwinriskpartners.com/role/DEIDocument

DEI Document

Cover

false

All Reports

Book

All Reports

brp-20201112.htm

brp-20201112.xsd

brp-20201112_cal.xml

brp-20201112_def.xml

brp-20201112_lab.xml

brp-20201112_pre.xml

fy2020q3earningsrelease.htm

http://xbrl.sec.gov/dei/2019-01-31

true

JSON

MetaLinks.json

IDEA: XBRL DOCUMENT

{

"instance": {

"brp-20201112.htm": {

"axisCustom": 0,

"axisStandard": 0,

"contextCount": 1,

"dts": {

"calculationLink": {

"local": [

"brp-20201112_cal.xml"

]

"definitionLink": {

"local": [

"brp-20201112_def.xml"

]

"inline": {

"local": [

"brp-20201112.htm"

]

"labelLink": {

"local": [

"brp-20201112_lab.xml"

"remote": [

"https://xbrl.sec.gov/dei/2019/dei-doc-2019-01-31.xml"

]

"presentationLink": {

"local": [

"brp-20201112_pre.xml"

]

"referenceLink": {

"remote": [

"https://xbrl.sec.gov/dei/2019/dei-ref-2019-01-31.xml"

]

"schema": {

"local": [

"brp-20201112.xsd"

"remote": [

"http://www.xbrl.org/2003/xlink-2003-12-31.xsd",

"http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",

"http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",

"http://www.xbrl.org/2003/xl-2003-12-31.xsd",

"https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd",

"http://www.xbrl.org/2005/xbrldt-2005.xsd",

"http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd",

"http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd",

"http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd",

"http://www.xbrl.org/lrr/role/net-2009-12-16.xsd",

"http://www.xbrl.org/lrr/role/deprecated-2009-12-16.xsd",

"http://www.xbrl.org/2006/ref-2006-02-27.xsd"

]

}

"elementCount": 24,

"entityCount": 1,

"hidden": {

"http://xbrl.sec.gov/dei/2019-01-31": 2,

"total": 2

"keyCustom": 0,

"keyStandard": 95,

"memberCustom": 0,

"memberStandard": 0,

"nsprefix": "brp",

"nsuri": "http://baldwinriskpartners.com/20201112",

"report": {

"R1": {

"firstAnchor": {

"ancestors": [

"span",

"div",

"body",

"html"

"baseRef": "brp-20201112.htm",

"contextRef": "i10423340c94145ffa0b2bf1572e7772d_D20201112-20201112",

"decimals": null,

"first": true,

"lang": "en-US",

"name": "dei:DocumentType",

"reportCount": 1,

"unique": true,

"unitRef": null,

"xsiNil": "false"

"groupType": "document",

"isDefault": "true",

"longName": "0001001 - Document - DEI Document",

"role": "http://baldwinriskpartners.com/role/DEIDocument",

"shortName": "DEI Document",

"subGroupType": "",

"uniqueAnchor": {

"ancestors": [

"span",

"div",

"body",

"html"

"baseRef": "brp-20201112.htm",

"contextRef": "i10423340c94145ffa0b2bf1572e7772d_D20201112-20201112",

"decimals": null,

"first": true,

"lang": "en-US",

"name": "dei:DocumentType",

"reportCount": 1,

"unique": true,

"unitRef": null,

"xsiNil": "false"

}

"segmentCount": 0,

"tag": {

"dei_AmendmentFlag": {

"auth_ref": [],

"lang": {

"en-US": {

"role": {

"documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.",

"label": "Amendment Flag",

"terseLabel": "Amendment Flag"

}

"localname": "AmendmentFlag",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "booleanItemType"

"dei_CityAreaCode": {

"auth_ref": [],

"lang": {

"en-US": {

"role": {

"documentation": "Area code of city",

"label": "City Area Code",

"terseLabel": "City Area Code"

}

"localname": "CityAreaCode",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "normalizedStringItemType"

"dei_CoverAbstract": {

"auth_ref": [],

"lang": {

"en-US": {

"role": {

"documentation": "Cover page.",

"label": "Cover [Abstract]",

"terseLabel": "Cover [Abstract]"

}

"localname": "CoverAbstract",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"xbrltype": "stringItemType"

"dei_DocumentPeriodEndDate": {

"auth_ref": [],

"lang": {

"en-US": {

"role": {

"documentation": "The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.",

"label": "Document Period End Date",

"terseLabel": "Document Period End Date"

}

"localname": "DocumentPeriodEndDate",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "dateItemType"

"dei_DocumentType": {

"auth_ref": [],

"lang": {

"en-US": {

"role": {

"documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.",

"label": "Document Type",

"terseLabel": "Document Type"

}

"localname": "DocumentType",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "submissionTypeItemType"

"dei_EntityAddressAddressLine1": {

"auth_ref": [],

"lang": {

"en-US": {

"role": {

"documentation": "Address Line 1 such as Attn, Building Name, Street Name",

"label": "Entity Address, Address Line One",

"terseLabel": "Entity Address, Address Line One"

}

"localname": "EntityAddressAddressLine1",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "normalizedStringItemType"

"dei_EntityAddressCityOrTown": {

"auth_ref": [],

"lang": {

"en-US": {

"role": {

"documentation": "Name of the City or Town",

"label": "Entity Address, City or Town",

"terseLabel": "Entity Address, City or Town"

}

"localname": "EntityAddressCityOrTown",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "normalizedStringItemType"

"dei_EntityAddressPostalZipCode": {

"auth_ref": [],

"lang": {

"en-US": {

"role": {

"documentation": "Code for the postal or zip code",

"label": "Entity Address, Postal Zip Code",

"terseLabel": "Entity Address, Postal Zip Code"

}

"localname": "EntityAddressPostalZipCode",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "normalizedStringItemType"

"dei_EntityAddressStateOrProvince": {

"auth_ref": [],

"lang": {

"en-US": {

"role": {

"documentation": "Name of the state or province.",

"label": "Entity Address, State or Province",

"terseLabel": "Entity Address, State or Province"

}

"localname": "EntityAddressStateOrProvince",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "stateOrProvinceItemType"

"dei_EntityCentralIndexKey": {

"auth_ref": [

"r5"

"lang": {

"en-US": {

"role": {

"documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.",

"label": "Entity Central Index Key",

"terseLabel": "Entity Central Index Key"

}

"localname": "EntityCentralIndexKey",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "centralIndexKeyItemType"

"dei_EntityEmergingGrowthCompany": {

"auth_ref": [

"r5"

"lang": {

"en-US": {

"role": {

"documentation": "Indicate if registrant meets the emerging growth company criteria.",

"label": "Entity Emerging Growth Company",

"terseLabel": "Entity Emerging Growth Company"

}

"localname": "EntityEmergingGrowthCompany",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "booleanItemType"

"dei_EntityExTransitionPeriod": {

"auth_ref": [

"r7"

"lang": {

"en-US": {

"role": {

"documentation": "Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.",

"label": "Entity Ex Transition Period",

"terseLabel": "Entity Ex Transition Period"

}

"localname": "EntityExTransitionPeriod",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "booleanItemType"

"dei_EntityFileNumber": {

"auth_ref": [],

"lang": {

"en-US": {

"role": {

"documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.",

"label": "Entity File Number",

"terseLabel": "Entity File Number"

}

"localname": "EntityFileNumber",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "fileNumberItemType"

"dei_EntityIncorporationStateCountryCode": {

"auth_ref": [],

"lang": {

"en-US": {

"role": {

"documentation": "Two-character EDGAR code representing the state or country of incorporation.",

"label": "Entity Incorporation, State or Country Code",

"terseLabel": "Entity Incorporation, State or Country Code"

}

"localname": "EntityIncorporationStateCountryCode",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "edgarStateCountryItemType"

"dei_EntityRegistrantName": {

"auth_ref": [

"r5"

"lang": {

"en-US": {

"role": {

"documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.",

"label": "Entity Registrant Name",

"terseLabel": "Entity Registrant Name"

}

"localname": "EntityRegistrantName",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "normalizedStringItemType"

"dei_EntityTaxIdentificationNumber": {

"auth_ref": [

"r5"

"lang": {

"en-US": {

"role": {

"documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.",

"label": "Entity Tax Identification Number",

"terseLabel": "Entity Tax Identification Number"

}

"localname": "EntityTaxIdentificationNumber",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "employerIdItemType"

"dei_LocalPhoneNumber": {

"auth_ref": [],

"lang": {

"en-US": {

"role": {

"documentation": "Local phone number for entity.",

"label": "Local Phone Number",

"terseLabel": "Local Phone Number"

}

"localname": "LocalPhoneNumber",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "normalizedStringItemType"

"dei_PreCommencementIssuerTenderOffer": {

"auth_ref": [

"r2"

"lang": {

"en-US": {

"role": {

"documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.",

"label": "Pre-commencement Issuer Tender Offer",

"terseLabel": "Pre-commencement Issuer Tender Offer"

}

"localname": "PreCommencementIssuerTenderOffer",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "booleanItemType"

"dei_PreCommencementTenderOffer": {

"auth_ref": [

"r3"

"lang": {

"en-US": {

"role": {

"label": "Pre-commencement Tender Offer",

"terseLabel": "Pre-commencement Tender Offer"

}

"localname": "PreCommencementTenderOffer",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "booleanItemType"

"dei_Security12bTitle": {

"auth_ref": [

"r0"

"lang": {

"en-US": {

"role": {

"documentation": "Title of a 12(b) registered security.",

"label": "Title of 12(b) Security",

"terseLabel": "Title of 12(b) Security"

}

"localname": "Security12bTitle",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "securityTitleItemType"

"dei_SecurityExchangeName": {

"auth_ref": [

"r1"

"lang": {

"en-US": {

"role": {

"documentation": "Name of the Exchange on which a security is registered.",

"label": "Security Exchange Name",

"terseLabel": "Security Exchange Name"

}

"localname": "SecurityExchangeName",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "edgarExchangeCodeItemType"

"dei_SolicitingMaterial": {

"auth_ref": [

"r4"

"lang": {

"en-US": {

"role": {

"documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.",

"label": "Soliciting Material",

"terseLabel": "Soliciting Material"

}

"localname": "SolicitingMaterial",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "booleanItemType"

"dei_TradingSymbol": {

"auth_ref": [],

"lang": {

"en-US": {

"role": {

"documentation": "Trading symbol of an instrument as listed on an exchange.",

"label": "Trading Symbol",

"terseLabel": "Trading Symbol"

}

"localname": "TradingSymbol",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "tradingSymbolItemType"

"dei_WrittenCommunications": {

"auth_ref": [

"r6"

"lang": {

"en-US": {

"role": {

"documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.",

"label": "Written Communications",

"terseLabel": "Written Communications"

}

"localname": "WrittenCommunications",

"nsuri": "http://xbrl.sec.gov/dei/2019-01-31",

"presentation": [

"http://baldwinriskpartners.com/role/DEIDocument"

"xbrltype": "booleanItemType"

}

"unitCount": 0

}

"std_ref": {

"r0": {

"Name": "Exchange Act",

"Number": "240",

"Publisher": "SEC",

"Section": "12",

"Subsection": "b"

"r1": {

"Name": "Exchange Act",

"Number": "240",

"Publisher": "SEC",

"Section": "12",

"Subsection": "d1-1"

"r2": {

"Name": "Exchange Act",

"Number": "240",

"Publisher": "SEC",

"Section": "13e",

"Subsection": "4c"

"r3": {

"Name": "Exchange Act",

"Number": "240",

"Publisher": "SEC",

"Section": "14d",

"Subsection": "2b"

"r4": {

"Name": "Exchange Act",

"Number": "240",

"Publisher": "SEC",

"Section": "14a",

"Subsection": "12"

"r5": {

"Name": "Regulation 12B",

"Number": "240",

"Publisher": "SEC",

"Section": "12",

"Subsection": "b-2"

"r6": {

"Name": "Securities Act",

"Number": "230",

"Publisher": "SEC",

"Section": "425"

"r7": {

"Name": "Securities Act",

"Number": "7A",

"Publisher": "SEC",

"Section": "B",

"Subsection": "2"

}

"version": "2.1"

}

Ace Wu

关注

0
点赞
踩
0

收藏

觉得还不错? 一键收藏
0
评论
signature=5d5d0d875d1f87b8d9ecb1fa8c07772d,brp-20201112

0001781755-20-000075.txt : 202011120001781755-20-000075.hdr.sgml : 2020111220201112161424ACCESSION NUMBER:0001781755-20-000075CONFORMED SUBMISSION TYPE:8-KPUBLIC DOCUMENT COUNT:16CONFORMED PERIOD OF R...
复制链接

扫一扫