{"schema_version":"secwatch.filing_event.v1","accession":"0001781755-26-000058","form_type":"8-K","ticker":"BWIN","cik":"0001781755","company_name":"Baldwin Insurance Group, Inc.","filed_at":"2026-10-09T20:07:02+00:00","discovered_at":"2026-10-09T20:08:00.200223+00:00","generated_at":"2026-10-12T15:11:12.956564+00:00","sec_items":["9.01"],"event_type":"m_and_a","sentiment":"negative","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Baldwin files Cobbs Allen audited financials: 2025 net loss $478.6M, revenue $299.2M","bullets":["Cobbs Allen 2025 revenue $299.2M vs $282.0M in 2024; net loss $478.6M vs $108.7M, with stock-based compensation of $423.1M driving the loss.","Operating loss widened to $436.2M from $88.9M; commissions, salaries and benefits rose to $670.3M from $320.5M.","Balance sheet: total liabilities $1.44B; current accrued stock-based compensation $983.2M; redeemable members' interests negative $(1.06B); cash $13.7M vs $43.4M.","Baldwin acquired Cobbs Allen on Jan 1, 2026, per agreement signed Dec 2, 2025; PwC audit report dated April 14, 2026."],"urls":{"canonical":"https://secwatch.observer/filing/0001781755-26-000058","json":"https://secwatch.observer/filing/0001781755-26-000058.json","markdown":"https://secwatch.observer/filing/0001781755-26-000058.md","text":"https://secwatch.observer/filing/0001781755-26-000058.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1781755/000178175526000058/0001781755-26-000058-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1781755/000178175526000058/bwin-20261009.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-12T15:11:12.956564+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}