The Baldwin Group Appoints Paul Sparks to its Board of Directors

Business Wire

TAMPA, Fla.--(BUSINESS WIRE)--
The Baldwin Group ("Baldwin" or “the “Company”) (NASDAQ: BWIN), a leading independent insurance brokerage and advisory firm delivering tailored insurance solutions to a wide range of personal and commercial clients, today announced that Paul Sparks, Executive Chairman of CAC Group (“CAC”), a specialty insurance brokerage firm, was appointed as a director, effective January 1, 2026.

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Paul Sparks, Executive Chairman of CAC Group, appointed Director on the Board of Directors of The Baldwin Group, effective January 1, 2026.

The appointment was made in connection with the recently announced merger between Baldwin and CAC, which has created one of the largest independent insurance advisory and distribution platforms in the United States.

"We are privileged and excited to welcome Paul to our Board of Directors,” said Lowry Baldwin, Chairman of the Board. “Paul’s leadership has been instrumental in vaulting CAC into one of the industry's preeminent specialty insurance brokerage and advisory platforms in a short timeframe. His experience will be invaluable as the Board stewards strategies to achieve our ambitious growth and margin and free cash flow expansion goals. Equally important, is his commitment to nurturing a culture of growth and achievement that attracts top talent, aligning perfectly with our Azimuth values as we transform into a transcendent insurance and risk management firm.”

Trevor Baldwin, Chief Executive Officer and Director, said, "Having such an accomplished insurance executive as Paul join our Board provides a tremendous opportunity to help accelerate us toward our ‘Broker of the Future’ vision. His successful track record as Chairman during these pivotal years at CAC, combined with his deep expertise designing sophisticated specialty insurance coverage solutions, will add an important dimension to our Board’s diverse backgrounds and skillsets.”

Mr. Sparks’ insurance career spans nearly forty years of underwriting and broking experience, leveraging deep insurer relationships and complex coverage expertise across multiple specialty insurance lines to deliver exceptional outcomes for clients in several industries.

He has served as Executive Chairman of CAC Group since its founding in 2019, guiding its remarkable growth trajectory that featured organic revenue expanding at a nearly 30% compound annual rate. Prior to CAC, Mr. Sparks held several leadership roles at McGriff, Seibels & Williams, including as the founder and head of its financial services division. Earlier in his career, he served as a Senior Vice President at Aon Corporation and as a Customer Group Practice Leader at Chubb.

Mr. Sparks graduated from Georgia State University with a Bachelor of Business Administration degree in finance and is a board member for the university’s Risk Management Foundation.

ABOUT THE BALDWIN GROUP

The Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (NASDAQ: BWIN) and its affiliates, is an independent insurance distribution firm providing indispensable expertise and insights that strive to give our clients the confidence to pursue their purpose, passion, and dreams. As a team of dedicated entrepreneurs and insurance professionals, we have come together to help protect the possible for our clients. We do this by delivering bespoke client solutions, services, and innovation through our comprehensive and tailored approach to risk management, insurance, and employee benefits. We support our clients, colleagues, insurance company partners, and communities through the deployment of vanguard resources and capital to drive our organic and inorganic growth. The Baldwin Group proudly represents more than three million clients across the United States and internationally. For more information, please visit www.baldwin.com.

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 The Baldwin Group’s expectations or beliefs concerning future events. Forward-looking statements are statements other than historical facts and may include statements that address The Baldwin Group’s future operating, financial or business performance or The Baldwin Group’s strategies or expectations, including those related to the partnership described above. 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 Baldwin’s Annual Report on Form 10-K for the year ended December 31, 2024 and in Baldwin’s other filings with the U.S. Securities and Exchange Commission (the “SEC”), which are available free of charge on the SEC’s website at:www.sec.gov, including the occurrence of any event, change or other circumstances that could affect Baldwin’s ability to successfully integrate businesses that it acquires, including CAC, and to achieve the benefits Baldwin expects to realize as a result of such acquisitions. 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 The Baldwin Group or to persons acting on behalf of The Baldwin 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 The Baldwin 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.