The Baldwin Group Completes Acquisition of Obie, a Leading Investment Property Insurance Platform

Business Wire

Obie integrates insurance into modern real estate transactions through embedded technology, a seamless quoting experience, and a nationwide network of independent insurance agents.
The acquisition strengthens Baldwin’s property distribution network and expands its suite of insurance solutions across the real estate ecosystem.
Since 2021, Obie has achieved revenue growth of over 2,100% while maintaining a fully reserved loss ratio below 50%.

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 it has completed the acquisition of Creisoft, Inc. and its subsidiaries (collectively, "Obie”), a Chicago-based embedded insurance distribution business specializing in insurance solutions for landlords and real estate investors. Obie serves real estate investors through multiple distribution channels, including direct-to-investor digital experiences and integrated partner platforms. This flexible model enables Obie to engage investors where they already operate, while supporting broader adoption of its technology and ensuring consistent underwriting standards and service quality. Baldwin’s partnership with Obie expands access to embedded insurance distribution capabilities for MSI, Baldwin’s managing general agent (MGA) and strengthens its offerings in the rapidly growing real estate investor market.

“Obie has built an impressive investment property insurance platform that modernizes how landlords and real estate investors secure and manage coverage,” said Jim Roche, President, The Baldwin Group and CEO, Underwriting, Capacity, and Technology Solutions. “By combining Obie’s purpose-built technology and nationwide distribution reach with our scale and underwriting capabilities, we are well positioned to better serve property owners and continue driving innovation across the real estate insurance market.”

“This is a defining moment for Obie and strong validation of how venture-backed, technology-forward insurance distribution businesses can both drive the industry forward and provide substantial and outsized returns to investors,” said Ryan Letzeiser, Co-founder and CEO of Obie. “Becoming part of The Baldwin Group expands what we can offer the market, from product breadth to service and scale, while preserving the focus and expertise that define our platform. It positions Obie to play a much larger role in how insurance is distributed across the ecosystem."

“The partnership with Obie marks an important milestone in our strategy to deliver specialized insurance solutions through embedded, tech-enabled distribution,” said Amy Carlisle, President of MSI. “As a key distribution partner for MSI’s real estate investor program today, we have admired Obie for quite some time now and are thrilled to welcome them to UCTS.”

ABOUT THE BALDWIN GROUP

The Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. ("Baldwin") (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.

ABOUT MSI

MSI, the brand name for Millennial Specialty Insurance, LLC, is one of the largest independent managing general agencies (MGAs) in the United States and an indirect subsidiary of The Baldwin Insurance Group, Inc. (“Baldwin”) (NASDAQ: BWIN). Offering more than 20 insurance products and solutions across personal, commercial, and professional lines, MSI thrives on solving challenges, delivering responsive service, and providing an easy insurance experience to its distribution partners and more than 1.5 million customers. Combining deep underwriting expertise with (re)insurer risk capacity, MSI creates specialized insurance solutions that empower our distribution partners to meet customers’ unique needs. MSI is committed to delivering exceptional service and rapid resolutions to customers throughout the policy lifecycle and to building insurance better. Founded in 2015, MSI joined The Baldwin Group in 2019. For more information, please visit www.msimga.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 merger described above (the “Merger”). 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 Obie, and to achieve the benefits Baldwin expects to realize as a result of such acquisitions, general economic and business conditions, Baldwin’s business strategy for expanding its presence in our industry, Baldwin’s expectations of revenue, operating costs and profitability, Baldwin’s expectations regarding its strategy and investments, the potential adverse impact on Baldwin’s financial condition and results of operations if it does not realize those expected benefits, liabilities of the businesses that Baldwin acquires that are not known to it, Baldwin’s expectations regarding its business, including market opportunity, consumer demand and its competitive advantage, anticipated trends in Baldwin’s financial condition and results of operations, the impact of competition and technological change, existing and future regulations affecting Baldwin’s business, Baldwin’s ability to comply with the rules and regulations of the SEC 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 The Baldwin Group's behalf 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.