The Baldwin Group, an independent insurance brokerage and advisory firm, has announced its financial results for the second quarter of 2026, reporting a 30% increase in total revenues to $492.9 million, despite a net loss of $56 million.
Total revenues increased 30% in Q2 2026, compared to the $376.2 million reported in Q2 2025. The company also reported a 2% year over year increase in organic revenue.
Adjusted net income in the quarter stood at $68.5 million, with adjusted EBITDA increasing 37%, to $116.7 million. Net loss margin was 11%, while adjusted EBITDA margin was 24%.
Trevor Baldwin, Chief Executive Officer of The Baldwin Group, commented: “We are thrilled with our momentum as reflected in our strong second quarter results. Total revenue grew 30% to $492.9 million, adjusted EBITDA grew 37% to $116.7 million, and adjusted free cash flow increased 437% to $46.4 million.
“As we previously highlighted, we have largely lapped the idiosyncratic, one-time headwinds that we believe will transition into tailwinds for our business in the back half of 2026. When combined with the strong contribution from our recent partnerships, we continue to win market share at an outsized rate, evidenced by sales velocity of 30% in our combined IAS business and normalized organic growth of 8%. This is a testament to the depth of expertise, value delivered to clients, and commitment from our dedicated colleagues.”
Baldwin added: “We remain excited for the opportunities we have ahead of us and what we can achieve in the coming year for shareholders, clients and colleagues.”
The Baldwin Group also announced its first half of the year financial results, reporting a 29% year over year increase in revenues, to $1.0 billion. Organic revenue grew 2% year over year.
At H1 2026, the company saw a GAAP net loss of $57.9 million. Adjusted net income stood at $157.8 million, with adjusted EBITDA experiencing a 27% year over year increase, to $254.0 million.
The period also saw a net loss margin of 6%, and an adjusted EBITDA margin of 24.8%, which compares to the 25.2% reported in the same period last year.
