Tampa insurance firm closes up on first day of public trading
October 24, 2019 - BRP Group Inc., the Tampa insurance distribution firm that does business as Baldwin Risk Partners LLC, is now a publicly traded company. After an initial public offering Thursday, the firm is trading on the Nasdaq exchange with the ticker symbol BRP. The stock opened at $14 a share and rose as high as $17.80 during the day, dropping back to close at $16.37. "The IPO represents a milestone for us," the company wrote in a note to partners. "As a publicly traded company we will have the opportunity to support enhanced services for clients, attract future partners, have a built-in succession plan for future generations and attract and retain talent and execute strategies to build shareholder value." The IPO won't change the vision to be regarded as the preeminent insurance advisory firm, the note said. BRP expected to raise as much as $300 million in the IPO.