Baldwin Insurance (BWIN) revenue breakdown
By segment, Insurance Advisory Solutions is the largest at 46% of fiscal 2025 revenue; Mainstreet Insurance Solutions grew fastest, 48% a year over 4 years.
By product, Commission revenue is the largest at 79% of fiscal 2025 revenue; Policy fee and installment fee revenue grew fastest, 41% a year over 4 years.
Revenue by segment
Fiscal years, as Baldwin Insurance reports them in its 10-K filings; fiscal 2025 total $1.6B.
| Segments | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|
| Insurance Advisory Solutions | $364M | $574M | $646M | $712M | $727M | 46% |
| Underwriting, Capacity & Technology Solutions | $144M | $293M | $405M | $473M | $549M | 35% |
| Mainstreet Insurance Solutions | $62M | $157M | $235M | $281M | $298M | 19% |
Revenue by product
Fiscal years, as Baldwin Insurance reports them in its 10-K filings; fiscal 2025 total $1.5B.
| Products | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|
| Commission revenue | $472M | $787M | $968M | $1.1B | $1.2B | 79% |
| Consulting and service fee revenue | $30M | $61M | $75M | $78M | $95M | 6% |
| Profit-sharing revenue | $37M | $66M | $93M | $96M | $94M | 6% |
| Policy fee and installment fee revenue | $20M | $55M | $65M | $61M | $79M | 5% |
| Assumed premium earned | — | — | — | — | $23M | 2% |
| Other income | $7M | $11M | $11M | $13M | $17M | 1% |
Questions
Where does Baldwin Insurance make its money?
In fiscal 2025, by segment: Insurance Advisory Solutions $727M, Underwriting, Capacity & Technology Solutions $549M, Mainstreet Insurance Solutions $298M.
From Baldwin Insurance's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.