The Baldwin Insurance Group, Inc.

Greetings. Welcome to the BRP Group fourth quarter 2021 earnings call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Bonnie Bishop. Please go ahead.

Thank you, Operator. Welcome to the BRP Group's fourth quarter 2021 earnings call. Today's call is being recorded. Fourth quarter 2021 financial results, supplemental information, and Form 10-K were issued earlier this afternoon and are available on the company's website at ir.baldwinriskpartners.com. Please note that remarks made today may include forward-looking statements which are based on the expectations, estimates, and projections of management as of today, including certain expectations related to COVID-19 and other matters. Forward-looking statements are subject to various assumptions, risks, and uncertainties, and a variety of factors that are difficult to predict and which may cause actual results to differ materially from those contemplated by such statements. For a more detailed discussion of those factors, Please refer to the company's earnings release for this quarter and to our most recent SEC filings, including our most recent Form 10-K, all of which are available on the BRP website. During the call today, the company may also discuss certain non-GAAP financial measures. For a reconciliation of these measures to the most closely comparable GAAP measures, please refer to the company's earning announcement and supplemental information. both of which have been posted on the company's website at ir.baldwinrestpartners.com and can be found in the company's SEC filings. And lastly, we are pleased to have published our inaugural ESG report today, which is also available on our IR website. I will now hand the call over to Trevor Baldwin, Chief Executive Officer of BRP Group.

Thank you, Bonnie, and good afternoon, everyone, and thank you for joining us for our fourth quarter earnings call. I will share brief remarks, followed by Brad, who will cover select financial and business highlights from the quarter and fiscal year. And then Brad, Chris, and I will take questions. I want to start by thanking the amazing colleagues and partners at BRP. In another tumultuous year, you continued to deliver for our clients at the highest level, which couldn't be more evident in our results. Q4 was another excellent quarter to finish a record 2021. highlighted by organic growth of 18% and total revenue growth of 129%. For the year, we achieved organic revenue growth of 22% and total revenue growth of 135%. We increased our margin for the year by 200 basis points while investing significantly in the business to drive continued outsized future growth in 2022 and beyond. Our partnership strategy, again, exceeded our expectations as we announced 16 new partnerships during the year, contributing more than $206 million of acquired revenue. The MGA of the future demonstrated strong growth of 36% during the quarter, despite a 2020 comparable quarter in which we recorded effectively five months of revenue related to our master tenant legal liability product. We continue to execute multifamily, now with over 700,000 HO4 policies in force, while also making continued progress in both flood and homeowners. We launched our Florida Admitted Homeowners product last week with launches in additional states of both admitted and ENS products to follow over the course of 2022. We expect flood and homeowners will be important contributors to our growth in 2022 and beyond. On the partnership front, we had another active quarter to wrap a third consecutive year of our performance. In November, we announced the addition of two more top 100 brokers in Wood, Gutman, and Bogart, which added important property and casualty capabilities and relationships in Southern California, and Construction Risk Partners, which newly establishes our national construction risk management practice. These two partnerships mark the completion of seven top 100 partnerships since the beginning of Q4 2020. which makes BRP the partner of choice for roughly one-third of the top 100 firms that have transacted over the last two years. We're also excited about the additions of Brush Creek Partners, which strengthens our expertise in several verticals, including cyber and technology, and Arcana Insurance Services, which enhances the MGA's single-family real estate offerings. We remain extremely proud of the reputation we have achieved as the partner of choice, for some of the most well-respected and highest quality firms in the industry. We welcome our new partners to the BRP family and are confident they will contribute meaningfully to our continued success. Looking to 2022, our pipeline remains robust, including active discussions with firms across a range of sizes, geographies, and specializations. Our reputation as a destination employer is also being validated on the organic hiring front. During the year, we added more than 800 colleagues through organic hiring, representing over a 50% increase to our 2020 year-end colleague base. Combined with the new colleagues added from 2021 partnerships, our total headcount at year-end was approximately 2,800 colleagues. At the leadership level, We were pleased to name Raj Kalahasi as our Chief Digital Information Officer to oversee our enterprise technology organization, build out our strategic IT capabilities, and help drive tech-enabled innovation. Raj has over two decades of IT leadership experience with a history of helping companies navigate through intense periods of transformational growth and change. We also promoted Seth Cohen to General Counsel and Corporate Secretary. Seth is an accomplished legal strategist and his broad expertise will be valuable as our firm continues to grow and execute on its long-term objectives. Finally, we are particularly excited about the appointment of four new professionals to our board of directors. They exemplify our ability to attract exceptional talent to our business with a diverse range of experiences, perspectives, and skill sets. Finally, I want to again extend a huge thank you to all of our amazing colleagues and partners who have been the driving force behind another fantastic year of performance. You are the reason our business is in the strongest position in the firm's history. With that, I will turn the call over to Brad to go into more detail on our fourth quarter and full year results. Thanks, Trevor.