BRP Group, Inc. (NASDAQ:BRP) Q3 2019 Earnings Conference Call - Final Transcript

Dec 02, 2019 • 05:00 pm ET


BRP Group, Inc. (NASDAQ:BRP) Q3 2019 Earnings Conference Call - Final Transcript


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Greetings. Welcome to the BRP Group, Inc. Third Quarter 2019 Earnings Conference Call.

[Operator Instructions]

Please note, today's conference is being recorded. I will now turn the conference over to your host, Brad Hale, Chief Accounting Officer. Mr. Hale, you may begin.

Brad Hale

Thank you operator and good afternoon. By now, everyone should have access to our earnings announcement and slide presentation, which was released prior to this call, and which may also be found on the Investor Relations portion of our website at

Before we begin our formal remarks, I need to remind everyone that part of our discussion today may include forward-looking statements, which are based on the expectations, estimates and projections of management as of today. The forward-looking statements in our discussion are subject to various assumptions, risks, uncertainties and other factors that are difficult to predict and which could cause actual results to differ materially from those expressed or implied in the forward-looking statements.

These statements are not guarantees of future performance and therefore, undue reliance should not be placed upon them. We refer all of you to our recent filings with the SEC for a more detailed discussion of the risks and uncertainties that could impact the future operating results and financial condition of BRP Group.

We disclaim any intentions or obligations to update or revise any forward-looking statements, except to the extent required by applicable law. Also, our discussion today may include references to certain non-GAAP measures. A reconciliation of these measures to the most comparable GAAP measure can be found within our earnings announcement and slide presentation, both posted on our website at

In addition, this call is being webcast and an archived version will be available after the call on the Investor Relations portion of our website.

I'd now like to introduce Trevor Baldwin, Chief Executive Officer of BRP Group.

Trevor Baldwin

Thank you, Brad and good afternoon, everyone. Welcome to our inaugural call as a public company. We appreciate your taking the time to join us to discuss our third quarter results and your interest in BRP Group.

During today's call, I will provide an overview of BRP Group, review how we are uniquely positioned to execute on our long-term strategy to become a top 10 broker within 10 years, followed by some brief highlights from our third quarter. Our CFO, Kris Wiebeck; and Chief Accounting Officer, Brad Hale, will then present our third quarter and year-to-date financial results and finally, we will open the line for questions.

Let me start by introducing BRP Group and our distinct operating groups. Our hybrid growth model is highlighted by our focus on both organic and partnership growth, with the latter term of partnership being our preferred nomenclature for acquisitions. This approach primes us to continue building on our previous success, which has proven to create significant value for our five key stakeholders that we define as our clients, colleagues, insurance company partners, communities and our shareholders.

In short, we're a rapidly growing insurance distribution platform,