Filing Flows › Baldwin Insurance Group (BWIN) › How it makes money
How Baldwin Insurance Group (BWIN) makes money
Baldwin Insurance Group (BWIN) made $493M of revenue in the second quarter 2026 (Q2 2026), +30% from a year earlier. Commissions revenue brought in $373M (76%); Consulting and service fee revenue brought in $44.9M (9%); Profit-sharing revenue brought in $29.5M (6%).
Drawing the Sankey…
Revenue by segment, Q2 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Commissions revenue | $373M | 75.7% | -11% | +25% |
| Consulting and service fee revenue | $44.9M | 9.1% | +3% | +64% |
| Profit-sharing revenue | $29.5M | 6.0% | +13% | +48% |
| Policy fee and installment fee revenue | $21.2M | 4.3% | +2% | +8% |
| Assumed premium earned | $15.3M | 3.1% | +8% | +179% |
| Other income | $4.8M | 1.0% | +27% | +7% |
| Other revenues | $4.2M | 0.8% | +23% | +62% |
Where each dollar of revenue goes
| Line | Q2 2026 | % of revenue |
|---|---|---|
| Revenue | $493M | 100.0% |
| Income tax | $84K | 0.0% |
| Operating cash flow | $45.6M | 9.2% |
| Free cash flow | $30.4M | 6.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2026 | $493M | +30% |
| Q1 2026 | $532M | +29% |
| Q4 2025 | $347M | +5% |
| Q3 2025 | $365M | +8% |
| Q2 2025 | $379M | +12% |
| Q1 2025 | $413M | +9% |
| Q4 2024 | $330M | +16% |
From Baldwin Insurance Group's 10-Q filed Jul 30, 2026 (on EDGAR).
Questions
How does Baldwin Insurance Group make money?
Baldwin Insurance Group (BWIN) made $493M of revenue in the second quarter 2026 (Q2 2026), +30% from a year earlier. Commissions revenue brought in $373M (76%); Consulting and service fee revenue brought in $44.9M (9%); Profit-sharing revenue brought in $29.5M (6%).
What is Baldwin Insurance Group's biggest business?
Commissions revenue: $373M in the second quarter 2026, 76% of revenue, +25% from a year earlier.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.