Baldwin Group Expands National Reach with Capstone Group Acquisition

Baldwin Group Acquires Capstone Group to Boost National Presence and Regional Expertise

TAMPA, Fla.—Baldwin Group (NASDAQ: BWIN), an established independent insurance brokerage and advisory organization, has finalized the acquisition of Capstone Group, a Philadelphia-based independent insurance brokerage. This strategic move aims to enhance Baldwin's national platform and expand its regional capabilities.

Capstone Group, established in 2013, has developed a commendable reputation in risk management, group health, ancillary benefits, and property & casualty insurance. The firm has seen substantial growth by serving diverse sectors, including healthcare, finance, construction, manufacturing, private equity, and technology in one of the U.S.’s largest economic hubs.

The integration of Capstone's service model with Baldwin's resources is expected to create significant efficiencies. Capstone will continue to deliver personalized services while benefiting from Baldwin's broader capabilities. This merger strengthens Baldwin’s regional outreach and enhances its capacity to deliver comprehensive risk management solutions, fostering long-term growth and heightened client satisfaction.

Dan Galbraith, President of The Baldwin Group and CEO of Retail Brokerage Operations, stated, "We are thrilled to welcome Capstone to The Baldwin Group. Their risk management approach and commitment to client success complement our objectives, enabling us to offer even greater service levels."

Kevin Fox, Managing Partner of Capstone Group, remarked, "Joining forces with Baldwin will allow us to leverage combined regional partnerships and resources, delivering a sustainable advantage to our clients."

About Baldwin Group

Baldwin Group is a prominent name in independent insurance distribution, offering expert risk management and insurance services. The firm, which serves over three million clients globally, focuses on delivering tailored client solutions across various sectors.

For more details, visit www.baldwin.com.

Forward-Looking Statements Disclaimer

This announcement contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements, not based on historical facts, reflect Baldwin’s expectations concerning future operational and business performance, including insights related to the recent acquisition. Various risks and uncertainties could influence actual outcomes, as outlined in Baldwin’s SEC filings. The company does not undertake any obligation to update forward-looking statements as new information becomes available, except as required by law.

For media inquiries, contact Anna Rozenich at anna.rozenich@baldwin.com. For investor relations, reach out to Bonnie Bishop at IR@baldwin.com.