secwatch.observer — SEC 8-K summary
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Issuer:     Baldwin Insurance Group, Inc. (BWIN)
CIK:        0001781755
Form:       8-K
Filed at:   2026-10-09T20:07:02+00:00
Accession:  0001781755-26-000058
Event type: m_and_a
Sentiment:  negative
Materiality: 0.55
Item codes: 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Baldwin files Cobbs Allen audited financials: 2025 net loss $478.6M, revenue $299.2M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1781755/000178175526000058/0001781755-26-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1781755/000178175526000058/bwin-20261009.htm
  HTML page:      https://secwatch.observer/filing/0001781755-26-000058

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