The Baldwin Insurance Group, Inc. (BWIN) 10-Q 12 Nov 20 2020 Q3 Quarterly report Financial data

DEI Statement

DEI Statement - shares	9 Months Ended
	Sep. 30, 2020	Nov. 06, 2020
Cover [Abstract]
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001781755
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-39095
Entity Registrant Name	BRP GROUP, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1937225
Entity Address, Address Line One	4211 W. Boy Scout Blvd.
Entity Address, Address Line Two	Suite 800
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33607
City Area Code	866
Local Phone Number	279-0698
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Trading Symbol	BRP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		33,988,164

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 50,220	$ 67,689
Restricted cash	7,778	3,382
Premiums, commissions and fees receivable, net	98,345	58,793
Prepaid expenses and other current assets	2,689	3,019
Due from related parties	41	43
Total current assets	159,073	132,926
Property and equipment, net	7,791	3,322
Other assets	7,949	5,600
Intangible assets, net	203,555	92,450
Goodwill	344,396	164,470
Total assets	722,764	398,768
Current Liabilities
Premiums payable to insurance companies	83,617	50,541
Producer commissions payable	12,019	7,470
Accrued expenses and other current liabilities	21,851	12,334
Current portion of contingent earnout liabilities	7,065	2,480
Total current liabilities	124,552	72,825
Revolving lines of credit	101,000	40,363
Contingent earnout liabilities, less current portion	78,323	46,289
Other liabilities	2,194	2,017
Total liabilities	306,069	161,494
Mezzanine Equity
Redeemable noncontrolling interest	101	23
Stockholders' Equity Attributable to BRP Group, Inc.
Additional paid-in capital	237,644	82,425
Accumulated deficit	(14,038)	(8,650)
Notes receivable from stockholders	(519)	(688)
Total stockholders’ equity attributable to BRP Group, Inc.	223,430	73,285
Noncontrolling interest	193,164	163,966
Total stockholders’ equity	416,594	237,251
Total liabilities, mezzanine equity and stockholders’ equity	722,764	398,768
Common Class A
Stockholders' Equity Attributable to BRP Group, Inc.
Common stock	$ 339	$ 194
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Shares Issued	33,932,868	19,362,984
Common Stock, Shares Outstanding	33,932,868	19,362,984
Common Class B
Stockholders' Equity Attributable to BRP Group, Inc.
Common stock	$ 4	$ 4
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares Issued	45,247,711	43,257,738
Common Stock, Shares Outstanding	45,247,711	43,257,738
Variable Interest Entity, Primary Beneficiary
Current Assets
Cash and cash equivalents	$ 122	$ 47
Premiums, commissions and fees receivable, net	153	75
Total current assets	275	122
Property and equipment, net	23	31
Other assets	5	7
Total assets	303	160
Current Liabilities
Premiums payable to insurance companies	1	6
Producer commissions payable	19	15
Accrued expenses and other current liabilities	7	29
Total liabilities	$ 27	$ 50

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Commissions and fees	$ 65,843	$ 38,383	$ 171,270	$ 101,280
Operating expenses:
Commissions, employee compensation and benefits	48,469	26,788	122,280	67,068
Other operating expenses	12,146	6,320	30,577	16,711
Amortization expense	5,185	3,082	13,231	6,793
Change in fair value of contingent consideration	6,455	535	12,697	(3,222)
Depreciation expense	258	184	663	460
Total operating expenses	72,513	36,909	179,448	87,810
Operating income (loss)	(6,670)	1,474	(8,178)	13,470
Interest expense, net	(922)	(3,785)	(2,554)	(8,998)
Other income (expense)	(23)	5	(23)	5
Total other expense	(945)	(3,780)	(2,577)	(8,993)
Income (loss) before income taxes	(7,615)	(2,306)	(10,755)	4,477
Income tax provision	0	0	12	0
Net income (loss)	(7,615)	(2,306)	(10,767)	4,477
Less: net income (loss) attributable to noncontrolling interests	(4,347)	(2,306)	(5,379)	4,477
Net loss attributable to BRP Group, Inc.	(3,268)	0	(5,388)	0
Comprehensive income (loss)	(7,615)	(2,306)	(10,767)	4,477
Comprehensive income (loss) attributable to noncontrolling interests	(4,347)	(2,306)	(5,379)	4,477
Comprehensive loss attributable to BRP Group, Inc.	$ (3,268)	$ 0	$ (5,388)	$ 0
Basic and diluted net loss per share	$ (0.10)		$ (0.22)
Basic and diluted weighted-average shares of Class A common stock outstanding	33,098,356		24,371,304

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' /Members' Equity (Deficit) and Mezzanine Equity (Unaudited) - USD ($) $ in Thousands	Total	APIC	Accumulated Deficit	Members’ Deficit	Notes Receivable from Stockholders/ Members	Noncontrolling Interest	Redeemable Noncontrolling Interest	Redeemable Members’ Capital	Common Class ACommon Stock	Common Class BCommon Stock
Balance at beginning of period, stockholders'/members' equity (deficit) at Dec. 31, 2018	$ (62,759)			$ (63,606)	$ (90)	$ 937
Balance at beginning of period, mezzanine equity at Dec. 31, 2018							$ 46,208	$ 39,354
Stockholders' Equity [Roll Forward]
Net income (loss)	231			119		112	3,761	485
Contributions							35
Contributions through issuance of member notes receivable	(263)				(310)	47	263
Repayment of member notes receivable	160				160
Issuance and vesting of Management Incentive Units	663			663
Issuance of common units	998			612		386
Issuance of common units	5,509							5,509
Repurchase redemption value adjustments								(1,323)
Equity issued in business combinations	1,000					1,000	37,637
Redemptions and repurchases of common stock/ common units								(11,177)
Change in the redemption value of redeemable interests	(140,708)			(140,708)			167	140,541
Distributions	(3,217)			(3,122)		(95)	(5,463)	(1,151)
Balance at end of period, stockholders'/members' equity (deficit) at Sep. 30, 2019	(203,895)			(206,042)	(240)	2,387
Balance at end of period, mezzanine equity at Sep. 30, 2019							82,608	172,238
Balance at beginning of period, stockholders'/members' equity (deficit) at Jun. 30, 2019	(126,701)			(128,869)	(256)	2,424
Balance at beginning of period, mezzanine equity at Jun. 30, 2019							65,906	110,596
Stockholders' Equity [Roll Forward]
Net income (loss)	(2,598)			(2,578)		(20)	1,440	(1,148)
Contributions							1
Repayment of member notes receivable	16				16
Issuance and vesting of Management Incentive Units	303			303
Issuance of common units	0
Equity issued in business combinations							6,674
Change in the redemption value of redeemable interests	(74,166)			(74,166)			11,125	63,041
Distributions	(749)			(732)		(17)	(2,538)	(251)
Balance at end of period, stockholders'/members' equity (deficit) at Sep. 30, 2019	(203,895)			$ (206,042)	(240)	2,387
Balance at end of period, mezzanine equity at Sep. 30, 2019							82,608	$ 172,238
Balance at beginning of period (in shares) at Dec. 31, 2019									19,362,984	43,257,738
Balance at beginning of period, stockholders'/members' equity (deficit) at Dec. 31, 2019	237,251	$ 82,425	$ (8,650)		(688)	163,966			$ 194	$ 4
Balance at beginning of period, mezzanine equity at Dec. 31, 2019							23
Stockholders' Equity [Roll Forward]
Net income (loss)	(10,826)		(5,388)			(5,438)	59
Issuance of Class A common stock in offering, net of underwriting discounts and offering costs (in shares)									13,225,000	(2,475,000)
Issuance of Class A common stock in offering, net of underwriting discounts and offering costs	135,231	144,497				(9,398)			$ 132
Contributions							19
Issuance of common units	0
Equity issued in business combinations (in shares)									513,025	4,805,572
Equity issued in business combinations	52,575	8,117				44,453			$ 5
Share-based compensation, net of forfeitures (in shares)									580,045
Share-based compensation, net of forfeitures	3,486	2,600				880			$ 6
Redemptions and repurchases of common stock (in shares)									251,814	(340,599)
Redemptions and repurchases of common stock/ common units	(1,292)	5				(1,299)			$ 2
Repayment of stockholder notes receivable	169				169
Change in the redemption value of redeemable interests	0
Balance at end of period (in shares) at Sep. 30, 2020									33,932,868	45,247,711
Balance at end of period, stockholders'/members' equity (deficit) at Sep. 30, 2020	416,594	237,644	(14,038)		(519)	193,164			$ 339	$ 4
Balance at end of period, mezzanine equity at Sep. 30, 2020							101
Balance at beginning of period (in shares) at Jun. 30, 2020									33,302,477	45,458,763
Balance at beginning of period, stockholders'/members' equity (deficit) at Jun. 30, 2020	422,563	235,520	(10,770)		(573)	198,049			$ 333	$ 4
Balance at beginning of period, mezzanine equity at Jun. 30, 2020							71
Stockholders' Equity [Roll Forward]
Net income (loss)	(7,637)		(3,268)			(4,369)	22
Offering costs	(28)	(28)
Contributions							8
Equity issued in business combinations (in shares)									25,491	0
Equity issued in business combinations	445	445				0			$ 0
Share-based compensation, net of forfeitures (in shares)									393,848
Share-based compensation, net of forfeitures	1,197	908				285			$ 4
Redemptions and repurchases of common stock (in shares)									211,052	(211,052)
Redemptions and repurchases of common stock/ common units	0	799				(801)			$ 2
Repayment of stockholder notes receivable	54				54
Balance at end of period (in shares) at Sep. 30, 2020									33,932,868	45,247,711
Balance at end of period, stockholders'/members' equity (deficit) at Sep. 30, 2020	$ 416,594	$ 237,644	$ (14,038)		$ (519)	$ 193,164			$ 339	$ 4
Balance at end of period, mezzanine equity at Sep. 30, 2020							$ 101

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ (10,767)	$ 4,477
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	13,894	7,253
Change in fair value of contingent consideration	12,697	(3,222)
Share-based compensation expense	5,357	110
Payment of contingent earnout consideration in excess of purchase price accrual	(1,727)	0
Amortization of deferred financing costs	384	1,117
Loss on extinguishment of debt	0	115
Issuance and vesting of Management Incentive Units	0	663
Participation unit compensation	0	150
Changes in operating assets and liabilities, net of effect of acquisitions:
Premiums, commissions and fees receivable, net	(12,717)	(441)
Prepaid expenses and other current assets	230	(921)
Due from related parties	2	73
Accounts payable, accrued expenses and other current liabilities	23,418	5,090
Other liabilities	0	105
Net cash provided by operating activities	30,771	14,569
Cash flows from investing activities:
Capital expenditures	(4,135)	(1,465)
Investment in business venture	0	(200)
Cash consideration paid for asset acquisitions, net of cash received	(695)	(671)
Cash consideration paid for business combinations, net of cash received	(230,403)	(99,486)
Net cash used in investing activities	(235,233)	(101,822)
Cash flows from financing activities:
Proceeds from issuance of Class A common stock, net of underwriting discounts	167,346	0
Repurchase/redemption of LLC Units and Class B common stock	(32,610)	0
Payment of common stock offering costs	(798)	0
Payment of contingent and guaranteed earnout consideration	(1,192)	(813)
Proceeds from revolving line of credit	185,637	68,464
Repayments of revolving line of credit	(125,000)	0
Proceeds from related party debt	0	49,845
Payments on long-term debt	0	(204)
Payments of debt issuance costs and debt extinguishment costs	(2,182)	(15)
Proceeds from repayment of stockholder/member notes receivable	169	160
Repurchase of common units	0	(12,500)
Distributions	0	(9,831)
Other	19	1,662
Net cash provided by financing activities	191,389	96,768
Net increase (decrease) in cash and cash equivalents and restricted cash	(13,073)	9,515
Cash and cash equivalents and restricted cash at beginning of period	71,071	7,995
Cash and cash equivalents and restricted cash at end of period	57,998	17,510
Supplemental schedule of cash flow information:
Cash paid during the period for interest	2,309	7,480
Disclosure of non-cash investing and financing activities:
Equity issued in business combinations	52,575	38,637
Contingent earnout consideration issuances	26,612	29,117
Additions to property and equipment included in accrued expenses and other current liabilities	561	0
Change in the redemption value of redeemable interests	0	140,708
Capitalization of issuance to redeemable common member	0	5,509
Capitalization of offering costs	0	4,207
Debt issuance costs added to revolving line of credit	0	2,554
Transfer of long-term debt to revolving line of credit	0	1,820
Contingently returnable consideration for business combinations	$ 0	$ 321

Business and Basis of Presentat

Business and Basis of Presentation (Notes)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation BRP Group, Inc. (“BRP Group” or the “Company”) was incorporated in the state of Delaware on July 1, 2019. BRP Group was formed for the purpose of completing an initial public offering of its common stock and related transactions in order to carry on the business of Baldwin Risk Partners, LLC (“BRP”) as a publicly-traded entity. On October 28, 2019, BRP Group completed an initial public offering of its Class A common stock (the “Initial Public Offering”) and became the sole managing member of BRP. The consolidated financial statements of BRP Group have been presented as a combination of the financial results of BRP Group and BRP as of the earliest period presented as discussed further under Principles of Consolidation below. BRP Group is a diversified insurance agency and services organization that markets and sells insurance products and services to its customers throughout the U.S., although a significant portion of the Company’s business is concentrated in the southeastern U.S. BRP Group and its subsidiaries operate through four reportable segments (“Operating Groups”), including Middle Market, Specialty, MainStreet, and Medicare, which are discussed in more detail in Note 15. Public Offering On June 29, 2020, the Company completed a public offering of 13,225,000 shares of its Class A common stock, including 1,725,000 shares sold pursuant to the underwriters’ over-allotment option. The shares were sold at an offering price of $13.25 per share for net proceeds of $166.5 million after deducting underwriting discounts and commissions of $7.9 million and offering expenses of $798,000. Principles of Consolidation The consolidated financial statements include the accounts of BRP Group and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. As the sole manager of BRP, BRP Group operates and controls all the business and affairs of BRP, and has the sole voting interest in, and controls the management of, BRP. Accordingly, BRP Group began consolidating BRP in its consolidated financial statements as of the closing date of the Initial Public Offering, resulting in a noncontrolling interest related to the LLC Units held by BRP’s LLC members (the “LLC Units”) on its consolidated financial statements. BRP and BRP Group were under the common control of the Company’s Chairman, Lowry Baldwin, before and immediately after the reorganization transactions undertaken in connection with the Initial Public Offering (the “Reorganization Transactions”). Prior to the Reorganization Transactions, Mr. Baldwin held a controlling interest in Baldwin Investment Group Holdings, LLC (“BIGH”), which was the controlling owner of BRP through its majority ownership of BRP’s common units. In addition, Mr. Baldwin was the sole shareholder of BRP Group. Upon reorganization, BRP Group became the sole managing member of BRP. Holders of the Class B common stock hold a majority of the voting power of BRP Group and stockholders of the then majority of the Class B common stock, including BIGH, executed a Voting Agreement in which they agreed to vote in the same manner as Mr. Baldwin. As a result, Mr. Baldwin continued to control BRP Group subsequent to the Initial Public Offering and Reorganization Transactions. Accordingly, we have accounted for the Reorganization Transactions as a transaction between entities under common control in accordance with Accounting Standards Codification (“ASC”) Topic 805-50, Business Combinations - Related Issues , under which the financial information of BRP Group has been combined with that of BRP as of the earliest period presented. The Company has prepared these consolidated financial statements in accordance with ASC Topic 810, Consolidation (“Topic 810”). Topic 810 requires that if an enterprise is the primary beneficiary of a variable interest entity, the assets, liabilities, and results of operations of the variable interest entity should be included in the consolidated financial statements of the enterprise. The Company has recognized certain entities as variable interest entities of which the Company is the primary beneficiary and has included the accounts of these entities in the consolidated financial statements. Refer to Note 4 for additional information regarding the Company’s variable interest entities. Topic 810 also requires that the equity of a noncontrolling interest shall be reported on the condensed consolidated balance sheets within total equity of the Company. Certain redeemable noncontrolling interests are reported on the condensed consolidated balance sheets as mezzanine equity. Topic 810 also requires revenues, expenses, gains, losses, net income or loss, and other comprehensive income or loss to be reported in the consolidated financial statements at consolidated amounts, which include amounts attributable to the owners of the parent and the noncontrolling interests. Noncontrolling Interest Noncontrolling interests are reported at historical cost basis adjusted for cumulative earnings or loss allocations and classified as a component of stockholders’ equity on the condensed consolidated balance sheets. Noncontrolling interest as presented as of September 30, 2020 and December 31, 2019 and for the nine months ended September 30, 2020 and 2019 consists of the noncontrolling interest holdings of BRP Group subsequent to the Company’s reorganization in connection with the Initial Public Offering. The controlling interest holdings of BRP for the period from January 1, 2019 through September 30, 2019 have been reclassified to noncontrolling interest holdings of BRP Group for presentation of activity for the three and nine months ended September 30, 2019. Unaudited Interim Financial Reporting The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the SEC regarding interim financial reporting. Accordingly, they do not include all the information and related notes required by GAAP for complete consolidated financial statements. In the opinion of management, all adjustments, consisting of recurring accruals, considered necessary for fair statement have been included. The accompanying balance sheet for the year ended December 31, 2019 was derived from audited financial statements, but does not include all disclosures required by GAAP. Accordingly, these unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2019 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 24, 2020. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates underlying the accompanying consolidated financial statements include the application of guidance for revenue recognition, including determination of allowances for estimated policy cancellations, business combinations and purchase price allocation, impairment of long-lived assets including goodwill, and valuation of the Tax Receivable Agreement liability and share-based compensation. Changes in Presentation Certain prior year amounts have been reclassified to conform to current year presentation. Recent Accounting Pronouncements As an emerging growth company, the Jumpstart Our Business Startups (“JOBS”) Act permits the Company an extended transition period for complying with new or revised accounting standards affecting public companies. The Company has elected to use this extended transition period and adopt certain new accounting standards on the private company timeline, which means that the Company’s financial statements may not be comparable to the financial statements of public companies that comply with such new or revised accounting standards on a non-delayed basis. The Company has elected the extended transition period for the adoption of the Accounting Standards Updates (“ASUs”) below, except those where early adoption was both permitted and elected. In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). The guidance in ASU 2016-02 supersedes the lease recognition requirements in Accounting Standards Codification (“ASC”) Topic 840, Leases . ASU 2016-02 requires an entity to recognize assets and liabilities arising from a lease for both financing and operating leases, along with additional qualitative and quantitative disclosures. The FASB has subsequently issued several additional ASUs related to leases, which improved upon, provided interpretation of and transition relief for, the guidance issued in ASU 2016-02 and extended the adoption date for nonpublic business entities. This guidance is effective for the fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the full effect that the adoption of this standard will have on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Statements (“ASU 2016-13”), which amends the guidance for recognizing credit losses on financial instruments measured at amortized cost. ASU 2016-13 replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The FASB has subsequently issued several additional ASUs related to credit losses, which improved upon, provided interpretation of and transition relief for, the guidance issued in ASU 2016-13 and extended the adoption date for nonpublic business entities. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the full effect that the adoption of this standard will have on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820) (“Topic 820”): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). This update modifies the disclosure requirements related to fair value measurement by removing certain disclosure requirements related to the fair value hierarchy. This update also modifies existing disclosure requirements related to measurement uncertainty and adds new disclosure requirements, such as disclosing the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and disclosing the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The Company adopted the guidance in ASU 2018-13 effective January 1, 2020, which impacted the presentation of the fair value measurements disclosure in Note 13 but did not otherwise impact the Company’s consolidated financial statements.

Significant Accounting Policies

Significant Accounting Policies (Notes)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies There have been no material changes in the Company’s significant accounting policies from those that were disclosed for the year ended December 31, 2019 in the Company’s Annual Report on Form 10-K filed with the SEC on March 24, 2020, except as noted below. Self-Insurance Reserve The Company converted to a self-insured health insurance plan beginning in March 2020 for which it carries an insurance program with specific retention levels or high per-claim deductibles for expected losses. The Company records a liability for all unresolved claims and for an estimate of incurred but not reported ("IBNR") claims at the anticipated cost that falls below its specified retention levels or per-claim deductible amounts. In establishing reserves, the Company considers actuarial assumptions and judgments regarding economic conditions and the frequency and severity of claims. The Company had an IBNR reserve of $1.1 million at September 30, 2020, which is included in accrued expenses and other current liabilities on the condensed consolidated balance sheets. Concentrations of Credit Risk

Business Combinations (Notes)

Business Combinations (Notes)	Apr. 01, 2020
Business Combinations [Abstract]
Business Combination Disclosure	Business Combinations The Company completed 11 business combinations for an aggregate purchase price of $317.7 million during the nine months ended September 30, 2020. In accordance with ASC Topic 805, Business Combinations (“Topic 805”), total consideration was first allocated to the fair value of assets acquired, including liabilities assumed, with the excess being recorded as goodwill. For financial statement purposes, goodwill is not amortized but rather is evaluated for impairment at least annually or more frequently if an event or change in circumstances occurs that indicates goodwill may be impaired. Goodwill is deductible for tax purposes and will be amortized over a period of 15 years. The recorded purchase price for certain of the foregoing business combinations includes an estimation of the fair value of contingent consideration obligations associated with potential earnout provisions, which are generally based on recurring commissions and fees revenue. The contingent earnout consideration amounts identified in the tables below are measured at fair value within Level 3 of the fair value hierarchy as discussed further in Note 13. Any subsequent changes in the fair value of contingent earnout liabilities will be recorded in the condensed consolidated statements of comprehensive income (loss) when incurred. The recorded purchase price for certain business combinations also includes an estimation of the fair value of noncontrolling interests, which are calculated based on a valuation of the entity with the relevant percentage applied. The Company completed the following 11 business combinations during the nine months ended September 30, 2020: • Lanier, a Middle Market Partner effective January 1, 2020, was made to expand the Company’s Middle Market presence in the healthcare, higher education, construction, property and non-profit businesses throughout Florida and other states. • Highland, a Specialty Partner effective January 1, 2020, was made to expand the Company’s Specialty presence in the healthcare and cyber insurance businesses and to add capabilities within the real estate business. • AgencyRM, a Medicare Partner effective February 1, 2020, was made to expand the Company’s Medicare business presence in Texas. • VibrantUSA, a Medicare Partner effective February 1, 2020, was made to expand the Company’s Medicare business presence in Washington. • IRP, a Middle Market Partner effective April 1, 2020, was made to expand the Company’s capabilities within the energy and infrastructure business. • Southern Protective Group, a Middle Market Partner effective May 1, 2020, was made to expand the Company's risk consulting capabilities in the medical malpractice market. • Pendulum, a Specialty Partner effective May 1, 2020, was made to expand the Company's specialty risk consulting capabilities in the long-term care and senior living markets. • Rosenthal, a Middle Market Partner effective June 1, 2020, was made to expand the Company’s capabilities within the habitational real estate industry. • TBA/RBA, a Middle Market Partner effective June 1, 2020, was made to expand the Company’s employee benefits business in Tennessee and across the Southeastern U.S. • Fletcher, a Medicare Partner effective July 31, 2020, was made to expand the Company’s Medicare business presence in Washington. • MIA, a Medicare Partner effective July 31, 2020, was made to expand the Company’s Medicare business presence in Tennessee. The operating results of these business combinations have been included in the condensed consolidated statements of comprehensive income (loss) since their respective acquisition dates. The Company recognized total revenues and net income from these business combinations of $37.1 million and $3.0 million, respectively, for the nine months ended September 30, 2020. Acquisition-related costs incurred in connection with these business combinations are recorded in other operating expenses in the condensed consolidated statements of comprehensive income (loss). The Company incurred acquisition-related costs from these business combinations of $1.7 million for the nine months ended September 30, 2020. The table below provides a summary of the total consideration and the estimated purchase price allocations made for each of the business acquisitions that became effective during the nine months ended September 30, 2020. The "All Others" column includes amounts for the AgencyRM, VibrantUSA, Southern Protective Group, Pendulum, Fletcher and MIA business combinations. (in thousands) Lanier Highland IRP Rosenthal TBA/RBA All Others Totals Cash consideration paid $ 24,450 $ 6,603 $ 26,223 $ 75,936 $ 76,272 $ 28,634 $ 238,118 Fair value of contingent earnout consideration 1,628 788 5,521 7,051 7,000 4,624 26,612 Fair value of equity interest 6,119 4,500 7,535 10,147 21,427 2,847 52,575 Deferred payment — — — — 300 59 359 Total consideration $ 32,197 $ 11,891 $ 39,279 $ 93,134 $ 104,999 $ 36,164 $ 317,664 Cash $ 2,413 $ 1,542 $ 1,694 $ 954 $ — $ 1,112 $ 7,715 Premiums, commissions and fees receivable 2,494 5,929 3,229 4,734 8,731 1,718 26,835 Property and equipment 294 — 123 — — 26 443 Other assets 168 13 11 11 — 19 222 Intangible assets — Purchased customer accounts 4,312 — 6,250 33,670 53,900 3,489 101,621 Distributor relationships — 6,500 — — — 12,880 19,380 Carrier relationships — 659 — — — — 659 Software — — — — — 565 565 Trade names — 214 — 939 179 77 1,409 Goodwill 25,735 4,276 32,273 56,253 44,264 17,125 179,926 Total assets acquired 35,416 19,133 43,580 96,561 107,074 37,011 338,775 Premiums and producer commissions payable (2,954) (6,374) (4,301) (3,427) (2,075) (586) (19,717) Accrued expenses and other current liabilities (265) (868) — — — (261) (1,394) Total liabilities acquired (3,219) (7,242) (4,301) (3,427) (2,075) (847) (21,111) Net assets acquired $ 32,197 $ 11,891 $ 39,279 $ 93,134 $ 104,999 $ 36,164 $ 317,664 Maximum potential contingent earnout consideration (1) $ 11,000 $ 2,450 $ 44,399 $ 30,843 $ 30,147 $ 15,930 $ 134,769 __________ (1) IRP has an uncapped earnout. The maximum potential earnout consideration represented has been calculated assuming 50% compound annual revenue growth for three years. Due to the complexity of valuing the consideration paid and the purchase price allocation and the timing of these activities, certain amounts included in the condensed consolidated financial statements may be provisional and subject to additional adjustments within the measurement period as permitted by Topic 805. Any measurement period adjustments related to prior period business combinations are reflected as current period adjustments in accordance with Topic 805. The factors contributing to the recognition of the amount of goodwill are based on expanding business presence into new geographic locations and service markets, strategic benefits that are expected to be realized from acquiring the Partners’ assembled workforce in addition to other synergies gained from integrating the Partners’ operations into our consolidated structure. The intangible assets acquired in connection with business combinations during the nine months ended September 30, 2020 have the following estimated weighted-average lives: Weighted-Average Life Purchased customer accounts 19.3 years Distributor relationships 20.0 years Carrier relationships 0.8 years Software 2.0 years Trade names 4.3 years Future annual estimated amortization expense over the next five years for intangible assets acquired in connection with business combinations during the nine months ended September 30, 2020 is as follows: (in thousands) Amount For the remainder of 2020 $ 2,092 2021 8,545 2022 8,280 2023 8,132 2024 7,942 The following unaudited pro forma consolidated results of operations are provided for illustrative purposes only and have been presented as if the acquisitions of Lanier, Highland, AgencyRM, VibrantUSA, IRP, Southern Protective Group, Pendulum, Rosenthal, TBA/RBA, Fletcher and MIA occurred on January 1, 2019. This unaudited pro forma information should not be relied upon as being indicative of the historical results that would have been obtained if the acquisitions had occurred on that date, nor of the results that may be obtained in the future. For the Three Months For the Nine Months (in thousands, except per share data) 2020 2019 2020 2019 Pro forma results: Revenues $ 66,075 $ 56,095 $ 201,960 $ 163,522 Net income (loss) (7,588) (3,448) (882) 5,647 Net loss attributable to BRP Group, Inc. (3,250) (320) Basic and diluted loss per share $ (0.10) $ (0.01) Weighted-average shares of Class A common stock outstanding - basic and diluted 33,107 24,408

Variable Interest Entities (Not

Variable Interest Entities (Notes)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities Topic 810 requires a reporting entity to consolidate a variable interest entity (“VIE”) when the reporting entity has a variable interest or combination of variable interests that provide the entity with a controlling financial interest in the VIE. The Company continually assesses whether it has a controlling financial interest in each of its VIEs to determine if it is the primary beneficiary of the VIE and should, therefore, consolidate each of the VIEs. A reporting entity is considered to have a controlling financial interest in a VIE if it has (i) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance, and (ii) the obligation to absorb the losses of, or the right to receive benefits from, the VIE that could potentially be significant to the VIE. The Company determined that it is the primary beneficiary of its VIEs, which, at September 30, 2019, included The Villages Insurance Partners, LLC (“TVIP”) and the Company’s joint ventures, BKS-IPEO JV Partners, LLC (“iPEO”), Laureate Insurance Partners, LLC (“Laureate”), BKS Smith, LLC (“Smith”), BKS MS, LLC (“Saunders”) and BKS Partners Galati Marine Solutions, LLC (“Galati”). In connection with the reorganization transactions and initial public offering in October 2019, the Company acquired the equity interests of TVIP and iPEO, which became wholly-owned subsidiaries of BRP and, accordingly, are no longer VIEs of the Company at September 30, 2020 and December 31, 2019. The Company has consolidated its VIEs into the consolidated financial statements. Total revenues and expenses of the Company’s consolidated VIEs included in the condensed consolidated statements of comprehensive income (loss) were $180,000 and $159,000, respectively, for the three months ended September 30, 2020 and $3.3 million and $2.4 million, respectively, for the three months ended September 30, 2019. Total revenues and expenses of the Company’s consolidated VIEs included in the condensed consolidated statements of comprehensive income (loss) were $583,000 and $498,000, respectively, for the nine months ended September 30, 2020 and $11.1 million and $7.1 million, respectively, for the nine months ended September 30, 2019. The revenues and expenses of TVIP and iPEO are included in the revenues and expenses of the Company’s consolidated VIEs for the three and nine months ended September 30, 2019. The assets of the consolidated VIEs can only be used to settle the obligations of the consolidated VIEs and the creditors of the liabilities of the consolidated VIEs do not have recourse to the Company. The following tables provide a summary of the carrying amounts of the assets and liabilities of the Company’s consolidated VIEs at each of the balance sheet dates: At September 30, 2020 (in thousands) Laureate Smith Saunders Total Assets Cash and cash equivalents $ 91 $ 1 $ 30 $ 122 Premiums, commissions and fees receivable, net 6 64 83 153 Total current assets 97 65 113 275 Property and equipment, net 23 — — 23 Other assets 5 — — 5 Total assets $ 125 $ 65 $ 113 $ 303 Liabilities Premiums payable to insurance companies $ — $ — $ 1 $ 1 Producer commissions payable — — 19 19 Accrued expenses and other current liabilities 7 — — 7 Total liabilities $ 7 $ — $ 20 $ 27 At December 31, 2019 (in thousands) Laureate Smith Saunders Total Assets Cash and cash equivalents $ 46 $ 1 $ — $ 47 Premiums, commissions and fees receivable, net — 44 31 75 Total current assets 46 45 31 122 Property and equipment, net 31 — — 31 Other assets 5 — 2 7 Total assets $ 82 $ 45 $ 33 $ 160 Liabilities Premiums payable to insurance companies $ 3 $ — $ 3 $ 6 Producer commissions payable 2 5 8 15 Accrued expenses and other current liabilities 4 25 — 29 Total liabilities $ 9 $ 30 $ 11 $ 50

Revenue (Notes)

Revenue (Notes)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following table provides disaggregated commissions and fees revenue by major source: For the Three Months For the Nine Months (in thousands) 2020 2019 2020 2019 Direct bill revenue (1) $ 26,996 $ 17,664 $ 77,535 $ 53,258 Agency bill revenue (2) 28,130 14,253 64,815 31,084 Profit-sharing revenue (3) 3,535 1,587 11,285 7,877 Policy fee and installment fee revenue (4) 4,051 2,719 11,086 5,112 Consulting and service fee revenue (5) 720 1,111 2,228 2,337 Other income (6) 2,411 1,049 4,321 1,612 Total commissions and fees $ 65,843 $ 38,383 $ 171,270 $ 101,280 __________ (1) Direct bill revenue represents commission revenue earned by facilitating the arrangement between individuals or businesses and Insurance Company Partners by providing insurance placement services to Clients, primarily for private risk management, commercial risk management, employee benefits and Medicare insurance types. (2) Agency bill revenue primarily represents commission revenue earned by facilitating the arrangement between individuals or businesses and Insurance Company Partners by providing insurance placement services to Clients. The Company acts as an agent on behalf of the Client for the term of the insurance policy. (3) Profit-sharing revenue represents bonus-type revenue that is earned by the Company as a sales incentive provided by certain Insurance Company Partners. (4) Policy fee revenue represents revenue earned for acting in the capacity of an MGA on behalf of the Insurance Company Partner and fulfilling certain services including delivery of policy documents, processing payments and other administrative functions. Installment fee revenue represents revenue earned by the Company for providing payment processing services on behalf of the Insurance Company Partner related to policy premiums paid on an installment basis. (5) Service fee revenue is earned by receiving negotiated fees in lieu of a commission and consulting revenue is earned by providing specialty insurance consulting. (6) Other income consists of Medicare marketing income that is based on agreed-upon cost reimbursement for fulfilling specific targeted marketing campaigns in addition to other fee income and premium financing income generated across all Operating Groups. The application of ASC Topic 606, Revenue from Contracts with Customers (“Topic 606”), requires the use of management judgment. The following are the areas of most significant judgment as it relates to Topic 606: • The Company considers the policyholders as representative of its customers in the majority of contractual relationships, with the exception of contracts in its Medicare operating segment, where the Insurance Company Partner is considered its customer. • Contracts in the Medicare operating segment are multi-year arrangements in which the Company is entitled to renewal commissions. However, the Company has applied a constraint to renewal commission that limits revenue recognized on new policies to the policy year in effect, and revenue recognized on renewed policies to the receipt of periodic cash, when a risk of significant reversals exists based on: (i) insufficient history; and (ii) the influence of external factors outside of the Company’s control, including policyholder discretion over plans and Insurance Company Partner relationship, political influence, and a contractual provision, which limits the Company’s right to receive renewal commissions to ongoing compliance and regulatory approval of the relevant Insurance Company Partner and compliance with the Centers for Medicare and Medicaid Services. • The Company recognizes separately contracted commissions revenue at the effective date of insurance placement and considers any ongoing interaction with the customer to be immaterial in the context of the contract. • Variable consideration includes estimates of direct bill commissions, a reserve for policy cancellations and an estimate of profit-sharing revenue. • Costs to obtain a contract are deferred and recognized over five years, which represents management’s estimate of the average period over which a Client maintains its initial coverage relationship with the original Insurance Company Partner. • Due to the relatively short time period between the information gathering phase and binding insurance coverage, the Company has determined that costs to fulfill contracts are not significant. Therefore, costs to fulfill a contract are expensed as incurred.

Contract Assets and Liabilities

Contract Assets and Liabilities (Notes)	9 Months Ended
	Sep. 30, 2020
Contract with Customer, Asset and Liability [Abstract]
Contract Assets and Liabilities	Contract Assets and Liabilities Contract assets arise when the Company recognizes revenue for amounts which have not yet been billed and contract liabilities relate to payments received in advance of performance under the contract before the transfer of a good or service to the customer. Contract assets are included in premiums, commissions and fees receivable, net and contract liabilities are included in accrued expenses and other current liabilities on the condensed consolidated balance sheets. The balances of contract assets and liabilities arising from contracts with customers are as follows: (in thousands) September 30, 2020 December 31, 2019 Contract assets $ 49,872 $ 47,337 Contract liabilities 7,542 5,349 During the nine months ended September 30, 2020, the Company recognized revenue of $5.2 million related to the contract liabilities balance at December 31, 2019.

Deferred Commission Expense (No

Deferred Commission Expense (Notes)	9 Months Ended
	Sep. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Commission Expense	Deferred Commission Expense The Company pays an incremental amount of compensation in the form of producer commissions on new business. In accordance with ASC Topic 340, Other Assets and Deferred Costs, these incremental costs are deferred and amortized over five years, which represents management’s estimate of the average benefit period. Deferred commission expense represents employee commissions that are capitalized and not yet expensed. The table below provides a rollforward of deferred commission expense for each of the three and nine months ended September 30, 2020 and 2019: For the Three Months For the Nine Months (in thousands) 2020 2019 2020 2019 Balance at beginning of period $ 4,060 $ 3,094 $ 3,621 $ 2,882 Costs capitalized 540 599 1,649 1,280 Amortization (344) (274) (1,014) (743) Balance at end of period $ 4,256 $ 3,419 $ 4,256 $ 3,419

Intangible Assets, Net and Good

Intangible Assets, Net and Goodwill (Notes)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net and Goodwill	Intangible Assets, Net and Goodwill The Company recognizes certain separately identifiable intangible assets acquired in connection with business combinations and asset acquisitions. Refer to Note 3 for a summary of intangible assets acquired in connection with business combinations during the nine months ended September 30, 2020. Intangible assets consist of the following: September 30, 2020 December 31, 2019 (in thousands) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Purchased customer accounts $ 156,303 $ (15,692) $ 140,611 $ 53,987 $ (9,143) $ 44,844 Software 31,161 (9,773) 21,388 30,590 (5,070) 25,520 Distributor relationships 32,380 (1,093) 31,287 13,000 (331) 12,669 Carrier relationships 7,859 (945) 6,914 7,200 (170) 7,030 Trade names 4,022 (667) 3,355 2,613 (226) 2,387 Totals $ 231,725 $ (28,170) $ 203,555 $ 107,390 $ (14,940) $ 92,450 Amortization expense recorded for intangible assets was $5.2 million and $3.1 million for the three months ended September 30, 2020 and 2019, respectively, and $13.2 million and $6.8 million for the nine months ended September 30, 2020 and 2019, respectively. Refer to Note 3 for a summary of goodwill recorded in connection with business combinations during the nine months ended September 30, 2020. The changes in carrying value of goodwill by Operating Group for the period are as follows: (in thousands) Middle Market Specialty MainStreet Medicare Total Balance at December 31, 2019 $ 52,932 $ 60,115 $ 38,892 $ 12,531 $ 164,470 Goodwill of acquired businesses 165,266 6,267 — 8,393 179,926 Balance at September 30, 2020 $ 218,198 $ 66,382 $ 38,892 $ 20,924 $ 344,396

Long-term Debt (Notes)

Long-term Debt (Notes)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-term Debt	Long-Term Debt The Company has a syndicated credit agreement with JPMorgan as successor agent and lead arranger (the “Old JPM Credit Agreement”), which has a maturity date of September 23, 2024. At December 31, 2019, the Old JPM Credit Agreement provided for an aggregate borrowing capacity of $225.0 million under a revolving credit commitment (the “Revolving Credit Commitment”), of which no more than $65.0 million of the aggregate borrowing capacity is available for working capital purposes and the entirety of which is available to fund acquisitions. On March 12, 2020, the Company entered into the Incremental Facility Amendment No. 1 to the Old JPM Credit Agreement to increase the aggregate borrowing capacity to $300.0 million. The Company capitalized debt issuance costs related to the amendment of $230,000 during the nine months ended September 30, 2020. On June 18, 2020, the Company executed the Incremental Facility Amendment No. 3 to the Old JPM Credit Agreement, which (i) increased the aggregate borrowing capacity to $400.0 million and (ii) added a new lender to the syndicate. All other terms of the JPMorgan Credit Agreement remain unchanged. The Company capitalized debt issuance costs related to the amendment of $1.7 million during the nine months ended September 30, 2020. At September 30, 2020 and December 31, 2019, the variable rate in effect for the Old JPM Credit Agreement was the London Interbank Offered Rate (“LIBOR”) due to a repricing option. The applicable interest rate on the Revolving Credit Commitment was 2.19% and 3.81% at September 30, 2020 and December 31, 2019, respectively.

Related Party Transactions (Not

Related Party Transactions (Notes)	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Commission Revenue The Company serves as a broker for Holding Company of the Villages, Inc. (“Villages”), a related party entity. Commission revenue recorded as a result of these transactions was $339,000 and $537,000 for the three months ended September 30, 2020 and 2019, respectively, and $1.1 million and $1.0 million for the nine months ended September 30, 2020 and 2019, respectively. The Company serves as a broker for certain entities in which a member of our board of directors has a material interest. Commission revenue recorded as a result of these transactions was $119,000 and $152,000 for the three months ended September 30, 2020 and 2019, respectively, and $243,000 and $270,000 for the nine months ended September 30, 2020 and 2019, respectively. Rent Expense The Company has various agreements to lease office space from wholly-owned subsidiaries of Villages. Total rent expense incurred with respect to Villages and its wholly-owned subsidiaries was $128,000 and $125,000 for the three months ended September 30, 2020 and 2019, respectively, and $412,000 and $374,000 for the nine months ended September 30, 2020 and 2019, respectively. The Company has various agreements to lease office space from other related parties. Total rent expense incurred with respect to related parties other than Villages was $368,000 and $156,000 for the three months ended September 30, 2020 and 2019, respectively, and $1.1 million and $454,000 for the nine months ended September 30, 2020 and 2019, respectively. LLC Unit Redemptions

Share-Baed Compensation (Notes)

Share-Baed Compensation (Notes)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The Company has an Omnibus Incentive Plan (the “Omnibus Plan”) to motivate and reward employees (“Colleagues”) and other individuals to perform at the highest level and contribute significantly to the Company’s success, thereby furthering the best interests of its shareholders. The Omnibus Plan provides for the Company to make awards of 1,948,414 shares of Class A common stock at September 30, 2020. During the nine months ended September 30, 2020, the Company granted restricted stock under the Omnibus Plan to its non-employee directors, executives and Colleagues, including those executives and Colleagues who onboarded in connection with our Partnerships. Shares of restricted stock issued to directors and executives during the nine months ended September 30, 2020 generally vested immediately upon issuance while shares issued to Colleagues and Risk Advisors generally either cliff vest after 2 to 5 years or vest ratably over 3 to 5 years. The following table summarizes the activity for non-vested awards granted by the Company under the Omnibus Plan: Shares Weighted-Average Grant-Date Fair Value Per Share Weighted-Average Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2019 330,244 $ 14.00 3.66 $ 677 Granted 645,843 14.71 2.15 Vested and settled (161,965) 11.45 54 Forfeited (30,551) 14.14 Outstanding at September 30, 2020 783,571 $ 15.11 2.64 $ 7,683 The total fair value of shares that vested and settled during the nine months ended September 30, 2020 was $1.9 million. The Company recognizes share-based compensation expense for the Omnibus Plan net of actual forfeitures. The Company recorded share-based compensation expense of $1.2 million and $2.5 million in connection with the Omnibus Plan and Management Incentive Units Plan for the three and nine months ended September 30, 2020, respectively, which is included in commissions, employee compensation and benefits expense in the condensed consolidated statements of comprehensive income (loss).

Earnings (Loss) Per Share (Note

Earnings (Loss) Per Share (Notes)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings (Loss) Per Share Basic earnings (loss) per share is computed by dividing net income attributable to BRP Group, Inc. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings (loss) per share is computed giving effect to all potentially dilutive shares of Class B common stock. The shares of Class B common stock do not share in the earnings or losses attributable to BRP Group, and therefore, are not participating securities. Accordingly, a separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been included. The 45,247,711 shares of Class B common stock have been excluded in computing diluted net earnings per share because including them on an “if-converted” basis would have an anti-dilutive effect. In addition, the 783,571 shares of unvested restricted Class A common stock were excluded from the diluted calculation, as their inclusion would have been anti-dilutive as the Company was in a net loss position. The following is a calculation of the basic and diluted weighted-average number of shares of Class A common stock outstanding and earnings per share for the three and nine months ended September 30, 2020. (in thousands, except per share data) For the Three Months Ended September 30, 2020 For the Nine Months Ended September 30, 2020 Basic and diluted net loss per share: Net loss attributable to BRP Group, Inc. $ (3,268) $ (5,388) Shares used for basic net loss per share: Basic and diluted weighted-average shares of Class A common stock outstanding 33,098 24,371 Basic and diluted net loss per share $ (0.10) $ (0.22)

Fair Value Measurements (Notes)

Fair Value Measurements (Notes)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Topic 820 established a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy under Topic 820 are described below: Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Level 2: Inputs to the valuation methodology are quoted market prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. An asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. Assets and Liabilities Measured at Fair Value on a Recurring Basis Methodologies used for assets and liabilities measured at fair value on a recurring basis at September 30, 2020 and December 31, 2019 are based on limited unobservable inputs. These methods may produce a fair value calculation that may not be indicative of the net realizable value or reflective of future fair values. Furthermore, while the Company believes its valuation methods are appropriate and consistent with other market participants, the use of methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis within each level of the fair value hierarchy: (in thousands) September 30, 2020 December 31, 2019 Level 3 Contingently returnable consideration $ 299 $ 70 Level 3 Assets $ 299 $ 70 Contingent earnout liabilities $ 85,388 $ 48,769 Level 3 Liabilities $ 85,388 $ 48,769 The Company’s contingently returnable consideration at September 30, 2020 and December 31, 2019 represents a contingent right of return from a Partner to reimburse the Company for a portion of the purchase price as part of the Partnership transaction. The fair value of the contingently returnable consideration is based on sales projections for the acquired entity, which are reassessed each reporting period. Based on the Company’s ongoing assessment of the fair value of contingently returnable consideration, the Company recorded a net increase in the estimated fair value of such asset of $229,000 for the nine months ended September 30, 2020. The Company has assessed the maximum refund relating to the contingently returnable consideration to be $1.3 million at September 30, 2020. The fair value of contingent earnout liabilities is based on sales projections for the acquired entities, which are reassessed each reporting period. Based on the Company’s ongoing assessment of the fair value of contingent earnout liability, the Company recorded a net increase in the estimated fair value of such liabilities of $12.9 million for the nine months ended September 30, 2020. The Company has assessed the maximum estimated exposure to the contingent earnout liabilities to be $233.6 million at September 30, 2020. The Company measures contingently returnable consideration and contingent earnout liabilities at fair value at each reporting period using significant unobservable inputs classified within Level 3 of the fair value hierarchy. The Company uses a probability weighted value analysis as a valuation technique to convert future estimated cash flows to a single present value amount. The significant unobservable inputs used in the fair value measurements are sales projections over the earnout period, and the probability outcome percentages assigned to each scenario. Significant increases or decreases to either of these inputs would result in a significantly higher or lower asset or liability with a higher asset capped by the contractual maximum of the contingently returnable consideration and a higher liability capped by the contractual maximum of the contingent earnout liabilities. Ultimately, the asset and liability will be equivalent to the amount settled, and the difference between the fair value estimate and amount settled will be recorded in earnings for business combinations, or as a reduction of the cost of the assets acquired for asset acquisitions. Refer to Note 3 for additional information regarding contingently returnable consideration and contingent earnout consideration recorded in connection with business acquisitions. The fair value of the contingent earnout liabilities is based on the present value of the expected future payments to be made to Partners in accordance with the provisions outlined in the respective purchase agreements, which is a Level 3 fair value measurement. In determining fair value, the Company estimates the Partner’s future performance using financial projections developed by management for the Partner and market participant assumptions that were derived for revenue growth or profitability based on earnings before income taxes, depreciation and amortization (“EBITDA”). Revenue and EBITDA growth rates generally ranged from 5% to 20%. The Company estimates future payments using the earnout formula and performance targets specified in each purchase agreement and these financial projections. These payments are discounted to present value using a risk-adjusted rate that takes into consideration market-based rates of return that reflect the ability of the Partner to achieve the targets. These discount rates generally ranged from 6.00% to 18.00%. Changes in financial projections, market participant assumptions for revenue growth and profitability, or the risk-adjusted discount rate, would result in a change in the fair value of contingent consideration. The following table sets forth a summary of the changes in the fair value of the Company’s contingently returnable consideration and contingent earnout liabilities, which are measured at fair value on a recurring basis utilizing Level 3 assumptions in their valuation: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Contingently Returnable Consideration Contingent Earnout Liabilities Contingent Earnout Liabilities Contingently Returnable Consideration Contingent Earnout Liabilities Contingent Earnout Liabilities Balance at beginning of period $ 387 $ 78,535 $ 31,111 $ 70 $ 48,769 $ 9,249 Fair value of contingent consideration issuances — 1,424 3,498 — 26,612 29,117 Change in fair value of contingent consideration (88) 6,367 535 229 12,926 (3,222) Payment of contingent consideration — (938) — — (2,919) — Balance at end of period $ 299 $ 85,388 $ 35,144 $ 299 $ 85,388 $ 35,144 Substantially all of the change in fair value of contingent consideration during the nine months ended September 30, 2020 and 2019 related to assets and liabilities that were held at the end of the respective periods. Fair Value of Other Financial Instruments The fair value of the Revolving Credit Commitment is classified as Level 2 within the fair value hierarchy. Fair value is based on an estimate using a discounted cash flow analysis based on current borrowing rates for similar types of borrowing arrangements. The fair value of the Revolving Credit Commitment was approximately $98.8 million at September 30, 2020 compared to a carrying value of $101.0 million. The carrying amount of the Revolving Credit Commitment of $40.4 million approximated fair value at December 31, 2019 as a result of the Old JPM Credit Agreement having been amended and restated at market terms on December 19, 2019.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesThe Company is involved in various claims and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations or liquidity.

Segment Reporting (Notes)

Segment Reporting (Notes)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Reporting	Segment Information BRP Group’s business is divided into four Operating Groups: Middle Market, Specialty, MainStreet, and Medicare. • Middle Market provides private risk management, commercial risk management and employee benefits solutions for mid-to-large size businesses and high net worth individuals and families. • Specialty represents a wholesale co-brokerage platform that delivers specialty insurers, professionals, individuals and niche industry businesses expanded access to exclusive specialty markets, capabilities and programs requiring complex underwriting and placement. Specialty also represents a leading technology platform, MGA of the Future, which is a national renter’s insurance product distributed via sub-agent partners and property management software providers, which has expanded distribution capabilities for new products through our wholesale and retail networks. • MainStreet offers personal insurance, commercial insurance and life and health solutions to individuals and businesses in their communities. • Medicare offers consultation for government assistance programs and solutions, including traditional Medicare and Medicare Advantage, to seniors and Medicare-eligible individuals through a network of agents. In the Middle Market, MainStreet, and Specialty Operating Groups, the Company generates commissions and fees from insurance placement under both agency bill and direct bill arrangements. In addition, the Company generates profit sharing income in each of those segments based on either the underlying book of business or performance, such as loss ratios. In the Middle Market Operating Group only, the Company generates fees from service fee and consulting arrangements. Service fee arrangements are in place with certain customers in lieu of commission arrangements. In the Medicare Operating Group, the Company generates commissions and fees in the form of direct bill insurance placement and marketing income. Marketing income is earned through co-branded marketing campaigns with the Company’s Insurance Company Partners. The Company’s chief operating decision maker, the chief executive officer, uses net income before interest, taxes, depreciation, amortization, and one-time transactional-related expenses or non-recurring items to manage resources and make decisions about the business. Summarized financial information concerning the Company’s Operating Groups is shown in the following tables. The Corporate and Other non-reportable segment includes any expenses not allocated to the Operating Groups and corporate-related items, including related party and third-party interest expense. Intersegment revenue and expenses are eliminated through the Corporate and Other column. Service center expenses and other overhead are allocated to the Company’s Operating Groups based on either revenue or headcount as applicable to each expense. For the Three Months Ended September 30, 2020 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees $ 26,561 $ 27,486 $ 7,905 $ 4,101 $ (210) $ 65,843 Net income (loss) 1,175 (1,278) 1,197 214 (8,923) $ (7,615) For the Three Months Ended September 30, 2019 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees $ 12,836 $ 16,732 $ 6,642 $ 2,173 $ — $ 38,383 Net income (loss) 295 2,190 1,016 388 (6,195) (2,306) For the Nine Months Ended September 30, 2020 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees $ 69,311 $ 64,358 $ 23,917 $ 13,894 $ (210) $ 171,270 Net income (loss) 11,789 (6,190) 3,397 2,661 (22,424) $ (10,767) For the Nine Months Ended September 30, 2019 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees $ 41,481 $ 32,497 $ 18,942 $ 8,360 $ — $ 101,280 Net income (loss) 10,475 1,590 4,596 2,833 (15,017) 4,477 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Total assets at September 30, 2020 405,278 195,947 59,873 42,362 19,304 $ 722,764 Total assets at December 31, 2019 105,353 154,983 60,253 17,533 60,646 398,768

Subsequent Events (Notes)

Subsequent Events (Notes)	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On October 12, 2020, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation with the Secretary of the State of Delaware to increase the number of authorized shares of Class B common stock from 50,000,000 to 100,000,000. On October 14, 2020, the Company entered into a new credit agreement with JPMorgan Chase Bank, N.A., to provide new senior secured credit facilities in an aggregate principal amount of $800.0 million. The amount consists of (i) a new term loan facility in the principal amount of $400.0 million maturing in 2027 (the “Term Loan B”) and (ii) a new revolving credit facility with commitments in an aggregate principal amount of $400.0 million maturing in 2025 (the “Revolving Facility”). The Company used a portion of the proceeds from the Term Loan B to repay in full the Company’s obligations under its Old JPM Credit Agreement and concurrently terminated the existing agreement. Interest rates under the Revolving Facility will remain the same as the interest rates under the Old JPM Credit Agreement, with borrowings accruing interest on amounts drawn at LIBOR plus 200 basis points (“bps”) to LIBOR plus 300 bps based on total net leverage ratio. The Term Loan B will bear interest at LIBOR plus 400 bps. On November 5, 2020, the Company announced that Baldwin Krystyn Sherman Partners, LLC, a subsidiary of BRP Group, has entered into an agreement to acquire all of the outstanding equity interests of Insgroup, Inc., a Houston, Texas based provider of commercial property and casualty insurance, employee benefits, private risk services and surety to middle-market companies and individuals. The Partnership is expected to close on November 30, 2020, subject to certain closing conditions.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Principles of Consolidation	The consolidated financial statements include the accounts of BRP Group and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. As the sole manager of BRP, BRP Group operates and controls all the business and affairs of BRP, and has the sole voting interest in, and controls the management of, BRP. Accordingly, BRP Group began consolidating BRP in its consolidated financial statements as of the closing date of the Initial Public Offering, resulting in a noncontrolling interest related to the LLC Units held by BRP’s LLC members (the “LLC Units”) on its consolidated financial statements. BRP and BRP Group were under the common control of the Company’s Chairman, Lowry Baldwin, before and immediately after the reorganization transactions undertaken in connection with the Initial Public Offering (the “Reorganization Transactions”). Prior to the Reorganization Transactions, Mr. Baldwin held a controlling interest in Baldwin Investment Group Holdings, LLC (“BIGH”), which was the controlling owner of BRP through its majority ownership of BRP’s common units. In addition, Mr. Baldwin was the sole shareholder of BRP Group. Upon reorganization, BRP Group became the sole managing member of BRP. Holders of the Class B common stock hold a majority of the voting power of BRP Group and stockholders of the then majority of the Class B common stock, including BIGH, executed a Voting Agreement in which they agreed to vote in the same manner as Mr. Baldwin. As a result, Mr. Baldwin continued to control BRP Group subsequent to the Initial Public Offering and Reorganization Transactions. Accordingly, we have accounted for the Reorganization Transactions as a transaction between entities under common control in accordance with Accounting Standards Codification (“ASC”) Topic 805-50, Business Combinations - Related Issues , under which the financial information of BRP Group has been combined with that of BRP as of the earliest period presented. The Company has prepared these consolidated financial statements in accordance with ASC Topic 810, Consolidation (“Topic 810”). Topic 810 requires that if an enterprise is the primary beneficiary of a variable interest entity, the assets, liabilities, and results of operations of the variable interest entity should be included in the consolidated financial statements of the enterprise. The Company has recognized certain entities as variable interest entities of which the Company is the primary beneficiary and has included the accounts of these entities in the consolidated financial statements. Refer to Note 4 for additional information regarding the Company’s variable interest entities.
Use of Estimates	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates underlying the accompanying consolidated financial statements include the application of guidance for revenue recognition, including determination of allowances for estimated policy cancellations, business combinations and purchase price allocation, impairment of long-lived assets including goodwill, and valuation of the Tax Receivable Agreement liability and share-based compensation.
Changes in Presentation	Certain prior year amounts have been reclassified to conform to current year presentation.
Recent Accounting Pronouncements	As an emerging growth company, the Jumpstart Our Business Startups (“JOBS”) Act permits the Company an extended transition period for complying with new or revised accounting standards affecting public companies. The Company has elected to use this extended transition period and adopt certain new accounting standards on the private company timeline, which means that the Company’s financial statements may not be comparable to the financial statements of public companies that comply with such new or revised accounting standards on a non-delayed basis. The Company has elected the extended transition period for the adoption of the Accounting Standards Updates (“ASUs”) below, except those where early adoption was both permitted and elected. In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). The guidance in ASU 2016-02 supersedes the lease recognition requirements in Accounting Standards Codification (“ASC”) Topic 840, Leases . ASU 2016-02 requires an entity to recognize assets and liabilities arising from a lease for both financing and operating leases, along with additional qualitative and quantitative disclosures. The FASB has subsequently issued several additional ASUs related to leases, which improved upon, provided interpretation of and transition relief for, the guidance issued in ASU 2016-02 and extended the adoption date for nonpublic business entities. This guidance is effective for the fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the full effect that the adoption of this standard will have on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Statements (“ASU 2016-13”), which amends the guidance for recognizing credit losses on financial instruments measured at amortized cost. ASU 2016-13 replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The FASB has subsequently issued several additional ASUs related to credit losses, which improved upon, provided interpretation of and transition relief for, the guidance issued in ASU 2016-13 and extended the adoption date for nonpublic business entities. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the full effect that the adoption of this standard will have on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820) (“Topic 820”): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). This update modifies the disclosure requirements related to fair value measurement by removing certain disclosure requirements related to the fair value hierarchy. This update also modifies existing disclosure requirements related to measurement uncertainty and adds new disclosure requirements, such as disclosing the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and disclosing the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The Company adopted the guidance in ASU 2018-13 effective January 1, 2020, which impacted the presentation of the fair value measurements disclosure in Note 13 but did not otherwise impact the Company’s consolidated financial statements.

Business Combinations (Tables)

Business Combinations (Tables)	Apr. 01, 2020	Sep. 30, 2020
Business Combinations [Abstract]
Schedule of Business Acquisitions	The table below provides a summary of the total consideration and the estimated purchase price allocations made for each of the business acquisitions that became effective during the nine months ended September 30, 2020. The "All Others" column includes amounts for the AgencyRM, VibrantUSA, Southern Protective Group, Pendulum, Fletcher and MIA business combinations. (in thousands) Lanier Highland IRP Rosenthal TBA/RBA All Others Totals Cash consideration paid $ 24,450 $ 6,603 $ 26,223 $ 75,936 $ 76,272 $ 28,634 $ 238,118 Fair value of contingent earnout consideration 1,628 788 5,521 7,051 7,000 4,624 26,612 Fair value of equity interest 6,119 4,500 7,535 10,147 21,427 2,847 52,575 Deferred payment — — — — 300 59 359 Total consideration $ 32,197 $ 11,891 $ 39,279 $ 93,134 $ 104,999 $ 36,164 $ 317,664 Cash $ 2,413 $ 1,542 $ 1,694 $ 954 $ — $ 1,112 $ 7,715 Premiums, commissions and fees receivable 2,494 5,929 3,229 4,734 8,731 1,718 26,835 Property and equipment 294 — 123 — — 26 443 Other assets 168 13 11 11 — 19 222 Intangible assets — Purchased customer accounts 4,312 — 6,250 33,670 53,900 3,489 101,621 Distributor relationships — 6,500 — — — 12,880 19,380 Carrier relationships — 659 — — — — 659 Software — — — — — 565 565 Trade names — 214 — 939 179 77 1,409 Goodwill 25,735 4,276 32,273 56,253 44,264 17,125 179,926 Total assets acquired 35,416 19,133 43,580 96,561 107,074 37,011 338,775 Premiums and producer commissions payable (2,954) (6,374) (4,301) (3,427) (2,075) (586) (19,717) Accrued expenses and other current liabilities (265) (868) — — — (261) (1,394) Total liabilities acquired (3,219) (7,242) (4,301) (3,427) (2,075) (847) (21,111) Net assets acquired $ 32,197 $ 11,891 $ 39,279 $ 93,134 $ 104,999 $ 36,164 $ 317,664 Maximum potential contingent earnout consideration (1) $ 11,000 $ 2,450 $ 44,399 $ 30,843 $ 30,147 $ 15,930 $ 134,769 __________ (1) IRP has an uncapped earnout. The maximum potential earnout consideration represented has been calculated assuming 50% compound annual revenue growth for three years.
Schedule of Weighted-Average Useful Lives of Intangible Assets Acquired in Business Combinations		The intangible assets acquired in connection with business combinations during the nine months ended September 30, 2020 have the following estimated weighted-average lives: Weighted-Average Life Purchased customer accounts 19.3 years Distributor relationships 20.0 years Carrier relationships 0.8 years Software 2.0 years Trade names 4.3 years
Schedule of Future Amortization Expense for Intangible Assets Acquired in Business Combinations		Future annual estimated amortization expense over the next five years for intangible assets acquired in connection with business combinations during the nine months ended September 30, 2020 is as follows: (in thousands) Amount For the remainder of 2020 $ 2,092 2021 8,545 2022 8,280 2023 8,132 2024 7,942
Schedule of Pro Forma Information		The following unaudited pro forma consolidated results of operations are provided for illustrative purposes only and have been presented as if the acquisitions of Lanier, Highland, AgencyRM, VibrantUSA, IRP, Southern Protective Group, Pendulum, Rosenthal, TBA/RBA, Fletcher and MIA occurred on January 1, 2019. This unaudited pro forma information should not be relied upon as being indicative of the historical results that would have been obtained if the acquisitions had occurred on that date, nor of the results that may be obtained in the future. For the Three Months For the Nine Months (in thousands, except per share data) 2020 2019 2020 2019 Pro forma results: Revenues $ 66,075 $ 56,095 $ 201,960 $ 163,522 Net income (loss) (7,588) (3,448) (882) 5,647 Net loss attributable to BRP Group, Inc. (3,250) (320) Basic and diluted loss per share $ (0.10) $ (0.01) Weighted-average shares of Class A common stock outstanding - basic and diluted 33,107 24,408

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following tables provide a summary of the carrying amounts of the assets and liabilities of the Company’s consolidated VIEs at each of the balance sheet dates: At September 30, 2020 (in thousands) Laureate Smith Saunders Total Assets Cash and cash equivalents $ 91 $ 1 $ 30 $ 122 Premiums, commissions and fees receivable, net 6 64 83 153 Total current assets 97 65 113 275 Property and equipment, net 23 — — 23 Other assets 5 — — 5 Total assets $ 125 $ 65 $ 113 $ 303 Liabilities Premiums payable to insurance companies $ — $ — $ 1 $ 1 Producer commissions payable — — 19 19 Accrued expenses and other current liabilities 7 — — 7 Total liabilities $ 7 $ — $ 20 $ 27 At December 31, 2019 (in thousands) Laureate Smith Saunders Total Assets Cash and cash equivalents $ 46 $ 1 $ — $ 47 Premiums, commissions and fees receivable, net — 44 31 75 Total current assets 46 45 31 122 Property and equipment, net 31 — — 31 Other assets 5 — 2 7 Total assets $ 82 $ 45 $ 33 $ 160 Liabilities Premiums payable to insurance companies $ 3 $ — $ 3 $ 6 Producer commissions payable 2 5 8 15 Accrued expenses and other current liabilities 4 25 — 29 Total liabilities $ 9 $ 30 $ 11 $ 50

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenue	The following table provides disaggregated commissions and fees revenue by major source: For the Three Months For the Nine Months (in thousands) 2020 2019 2020 2019 Direct bill revenue (1) $ 26,996 $ 17,664 $ 77,535 $ 53,258 Agency bill revenue (2) 28,130 14,253 64,815 31,084 Profit-sharing revenue (3) 3,535 1,587 11,285 7,877 Policy fee and installment fee revenue (4) 4,051 2,719 11,086 5,112 Consulting and service fee revenue (5) 720 1,111 2,228 2,337 Other income (6) 2,411 1,049 4,321 1,612 Total commissions and fees $ 65,843 $ 38,383 $ 171,270 $ 101,280 __________ (1) Direct bill revenue represents commission revenue earned by facilitating the arrangement between individuals or businesses and Insurance Company Partners by providing insurance placement services to Clients, primarily for private risk management, commercial risk management, employee benefits and Medicare insurance types. (2) Agency bill revenue primarily represents commission revenue earned by facilitating the arrangement between individuals or businesses and Insurance Company Partners by providing insurance placement services to Clients. The Company acts as an agent on behalf of the Client for the term of the insurance policy. (3) Profit-sharing revenue represents bonus-type revenue that is earned by the Company as a sales incentive provided by certain Insurance Company Partners. (4) Policy fee revenue represents revenue earned for acting in the capacity of an MGA on behalf of the Insurance Company Partner and fulfilling certain services including delivery of policy documents, processing payments and other administrative functions. Installment fee revenue represents revenue earned by the Company for providing payment processing services on behalf of the Insurance Company Partner related to policy premiums paid on an installment basis. (5) Service fee revenue is earned by receiving negotiated fees in lieu of a commission and consulting revenue is earned by providing specialty insurance consulting. (6) Other income consists of Medicare marketing income that is based on agreed-upon cost reimbursement for fulfilling specific targeted marketing campaigns in addition to other fee income and premium financing income generated across all Operating Groups.

Contract Assets and Liabiliti_2

Contract Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Contract with Customer, Asset and Liability [Abstract]
Schedule of Contract Assets and Liabilities	The balances of contract assets and liabilities arising from contracts with customers are as follows: (in thousands) September 30, 2020 December 31, 2019 Contract assets $ 49,872 $ 47,337 Contract liabilities 7,542 5,349

Deferred Commission Expense (Ta

Deferred Commission Expense (Tables)	9 Months Ended
	Sep. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Deferred Commission Expense	The table below provides a rollforward of deferred commission expense for each of the three and nine months ended September 30, 2020 and 2019: For the Three Months For the Nine Months (in thousands) 2020 2019 2020 2019 Balance at beginning of period $ 4,060 $ 3,094 $ 3,621 $ 2,882 Costs capitalized 540 599 1,649 1,280 Amortization (344) (274) (1,014) (743) Balance at end of period $ 4,256 $ 3,419 $ 4,256 $ 3,419

Intangible Assets, Net and Go_2

Intangible Assets, Net and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consist of the following: September 30, 2020 December 31, 2019 (in thousands) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Purchased customer accounts $ 156,303 $ (15,692) $ 140,611 $ 53,987 $ (9,143) $ 44,844 Software 31,161 (9,773) 21,388 30,590 (5,070) 25,520 Distributor relationships 32,380 (1,093) 31,287 13,000 (331) 12,669 Carrier relationships 7,859 (945) 6,914 7,200 (170) 7,030 Trade names 4,022 (667) 3,355 2,613 (226) 2,387 Totals $ 231,725 $ (28,170) $ 203,555 $ 107,390 $ (14,940) $ 92,450
Schedule of Goodwill	The changes in carrying value of goodwill by Operating Group for the period are as follows: (in thousands) Middle Market Specialty MainStreet Medicare Total Balance at December 31, 2019 $ 52,932 $ 60,115 $ 38,892 $ 12,531 $ 164,470 Goodwill of acquired businesses 165,266 6,267 — 8,393 179,926 Balance at September 30, 2020 $ 218,198 $ 66,382 $ 38,892 $ 20,924 $ 344,396

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Activity of Non-vested Awards under Omnibus Plan	The following table summarizes the activity for non-vested awards granted by the Company under the Omnibus Plan: Shares Weighted-Average Grant-Date Fair Value Per Share Weighted-Average Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2019 330,244 $ 14.00 3.66 $ 677 Granted 645,843 14.71 2.15 Vested and settled (161,965) 11.45 54 Forfeited (30,551) 14.14 Outstanding at September 30, 2020 783,571 $ 15.11 2.64 $ 7,683

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The following is a calculation of the basic and diluted weighted-average number of shares of Class A common stock outstanding and earnings per share for the three and nine months ended September 30, 2020. (in thousands, except per share data) For the Three Months Ended September 30, 2020 For the Nine Months Ended September 30, 2020 Basic and diluted net loss per share: Net loss attributable to BRP Group, Inc. $ (3,268) $ (5,388) Shares used for basic net loss per share: Basic and diluted weighted-average shares of Class A common stock outstanding 33,098 24,371 Basic and diluted net loss per share $ (0.10) $ (0.22)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value by Balance Sheet Grouping	The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis within each level of the fair value hierarchy: (in thousands) September 30, 2020 December 31, 2019 Level 3 Contingently returnable consideration $ 299 $ 70 Level 3 Assets $ 299 $ 70 Contingent earnout liabilities $ 85,388 $ 48,769 Level 3 Liabilities $ 85,388 $ 48,769
Schedule of Changes in Liabilities Measured at Fair Value on a Recurring Basis	The following table sets forth a summary of the changes in the fair value of the Company’s contingently returnable consideration and contingent earnout liabilities, which are measured at fair value on a recurring basis utilizing Level 3 assumptions in their valuation: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Contingently Returnable Consideration Contingent Earnout Liabilities Contingent Earnout Liabilities Contingently Returnable Consideration Contingent Earnout Liabilities Contingent Earnout Liabilities Balance at beginning of period $ 387 $ 78,535 $ 31,111 $ 70 $ 48,769 $ 9,249 Fair value of contingent consideration issuances — 1,424 3,498 — 26,612 29,117 Change in fair value of contingent consideration (88) 6,367 535 229 12,926 (3,222) Payment of contingent consideration — (938) — — (2,919) — Balance at end of period $ 299 $ 85,388 $ 35,144 $ 299 $ 85,388 $ 35,144

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Summarized Financial Information by Operating Group	Summarized financial information concerning the Company’s Operating Groups is shown in the following tables. The Corporate and Other non-reportable segment includes any expenses not allocated to the Operating Groups and corporate-related items, including related party and third-party interest expense. Intersegment revenue and expenses are eliminated through the Corporate and Other column. Service center expenses and other overhead are allocated to the Company’s Operating Groups based on either revenue or headcount as applicable to each expense. For the Three Months Ended September 30, 2020 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees $ 26,561 $ 27,486 $ 7,905 $ 4,101 $ (210) $ 65,843 Net income (loss) 1,175 (1,278) 1,197 214 (8,923) $ (7,615) For the Three Months Ended September 30, 2019 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees $ 12,836 $ 16,732 $ 6,642 $ 2,173 $ — $ 38,383 Net income (loss) 295 2,190 1,016 388 (6,195) (2,306) For the Nine Months Ended September 30, 2020 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees $ 69,311 $ 64,358 $ 23,917 $ 13,894 $ (210) $ 171,270 Net income (loss) 11,789 (6,190) 3,397 2,661 (22,424) $ (10,767) For the Nine Months Ended September 30, 2019 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees $ 41,481 $ 32,497 $ 18,942 $ 8,360 $ — $ 101,280 Net income (loss) 10,475 1,590 4,596 2,833 (15,017) 4,477 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Total assets at September 30, 2020 405,278 195,947 59,873 42,362 19,304 $ 722,764 Total assets at December 31, 2019 105,353 154,983 60,253 17,533 60,646 398,768

Business and Basis of Present_2

Business and Basis of Presentation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 29, 2020	Sep. 30, 2020	Sep. 30, 2019
Class of Stock [Line Items]
Date of incorporation or formation		Jul. 1, 2019
Proceeds from issuance of Class A common stock, net of underwriting discounts		$ 167,346	$ 0
Common Class A
Class of Stock [Line Items]
Offering price per share	$ 13.25
Proceeds from issuance of Class A common stock, net of underwriting discounts	$ 166,500
Underwriting discounts and commissions	7,900
Offering expenses	$ 798
Common Class A | Offering
Class of Stock [Line Items]
Shares of stock sold	13,225,000
Common Class A | Over-Allotment Option
Class of Stock [Line Items]
Shares of stock sold	1,725,000

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Details)	Sep. 30, 2020USD ($)
Accounting Policies [Abstract]
IBNR reserve	$ 1,100,000
Cash, FDIC Insured Amount	$ 250,000

Business Combinations - Additio

Business Combinations - Additional Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)numberOfBusinessCombinations
Business Acquisition [Line Items]
Number of Businesses Acquired | numberOfBusinessCombinations	11
Business combinations aggregate purchase price	$ 317,664
Goodwill, amortization period for tax purposes	15 years
Total revenues recognized from business combinations	$ 37,100
Net income recognized from business combinations	3,000
Acquisition related costs incurred	1,700
Lanier
Business Acquisition [Line Items]
Business combinations aggregate purchase price	$ 32,197
Effective date of acquisition	Jan. 1, 2020
Highland
Business Acquisition [Line Items]
Business combinations aggregate purchase price	$ 11,891
Effective date of acquisition	Jan. 1, 2020
Agency
Business Acquisition [Line Items]
Effective date of acquisition	Feb. 1, 2020
Vibrant
Business Acquisition [Line Items]
Effective date of acquisition	Feb. 1, 2020
IRP
Business Acquisition [Line Items]
Business combinations aggregate purchase price	$ 39,279
Effective date of acquisition	Apr. 1, 2020
Southern Protective Group
Business Acquisition [Line Items]
Effective date of acquisition	May 1, 2020
Pendulum
Business Acquisition [Line Items]
Effective date of acquisition	May 1, 2020
Rosenthal
Business Acquisition [Line Items]
Business combinations aggregate purchase price	$ 93,134
Effective date of acquisition	Jun. 1, 2020
TBA/RBA
Business Acquisition [Line Items]
Business combinations aggregate purchase price	$ 104,999
Effective date of acquisition	Jun. 1, 2020
Fletcher
Business Acquisition [Line Items]
Effective date of acquisition	Jul. 31, 2020
MIA
Business Acquisition [Line Items]
Effective date of acquisition	Jul. 31, 2020

Business Combinations - Schedul

Business Combinations - Schedule of Business Acquisitions (Details) - USD ($) $ in Thousands	Apr. 01, 2020	Sep. 30, 2020	Sep. 30, 2019	Jun. 01, 2020	Jan. 01, 2020
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid		$ 238,118
Fair value of contingent earnout consideration		26,612	$ 29,117
Fair value of equity interest		52,575	$ 38,637
Business Combination, Consideration Transferred, Liabilities Incurred		359
Total consideration		317,664
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash		7,715
Premiums, commissions and fees receivable		26,835
Property and equipment		443
Other assets		222
Goodwill		179,926
Total assets acquired		338,775
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums and producer commissions payable		(19,717)
Accrued expenses and other current liabilities		(1,394)
Total liabilities acquired		(21,111)
Net assets acquired		317,664
Maximum potential contingent earnout consideration (1)		134,769
Lanier
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid		24,450
Fair value of contingent earnout consideration		1,628
Fair value of equity interest		6,119
Total consideration		32,197
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash					$ 2,413
Premiums, commissions and fees receivable					2,494
Property and equipment					294
Other assets					168
Goodwill					25,735
Total assets acquired					35,416
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums and producer commissions payable					(2,954)
Accrued expenses and other current liabilities					(265)
Total liabilities acquired					(3,219)
Net assets acquired					32,197
Maximum potential contingent earnout consideration (1)					11,000
Highland
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid		6,603
Fair value of contingent earnout consideration		788
Fair value of equity interest		4,500
Total consideration		11,891
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash					1,542
Premiums, commissions and fees receivable					5,929
Property and equipment					0
Other assets					13
Goodwill					4,276
Total assets acquired					19,133
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums and producer commissions payable					(6,374)
Accrued expenses and other current liabilities					(868)
Total liabilities acquired					(7,242)
Net assets acquired					11,891
Maximum potential contingent earnout consideration (1)					2,450
IRP
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid		26,223
Fair value of contingent earnout consideration		5,521
Fair value of equity interest		7,535
Total consideration		39,279
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash	$ 1,694
Premiums, commissions and fees receivable	3,229
Property and equipment	123
Other assets	11
Goodwill	32,273
Total assets acquired	43,580
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums and producer commissions payable	(4,301)
Accrued expenses and other current liabilities	0
Total liabilities acquired	(4,301)
Net assets acquired	39,279
Maximum potential contingent earnout consideration (1)	$ 44,399
Compound annual revenue growth rate	50.00%
Period to which compound annual revenue growth rate has been applied	3 years
Rosenthal
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid		75,936
Fair value of contingent earnout consideration		7,051
Fair value of equity interest		10,147
Total consideration		93,134
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash				$ 954
Premiums, commissions and fees receivable				4,734
Property and equipment				0
Other assets				11
Goodwill				56,253
Total assets acquired				96,561
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums and producer commissions payable				(3,427)
Accrued expenses and other current liabilities				0
Total liabilities acquired				(3,427)
Net assets acquired				93,134
Maximum potential contingent earnout consideration (1)				30,843
TBA/RBA
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid		76,272
Fair value of contingent earnout consideration		7,000
Fair value of equity interest		21,427
Business Combination, Consideration Transferred, Liabilities Incurred		300
Total consideration		104,999
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash				0
Premiums, commissions and fees receivable				8,731
Property and equipment				0
Other assets				0
Goodwill				44,264
Total assets acquired				107,074
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums and producer commissions payable				(2,075)
Accrued expenses and other current liabilities				0
Total liabilities acquired				(2,075)
Net assets acquired				104,999
Maximum potential contingent earnout consideration (1)				30,147
All Others
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid		28,634
Fair value of contingent earnout consideration		4,624
Fair value of equity interest		2,847
Business Combination, Consideration Transferred, Liabilities Incurred		59
Total consideration		36,164
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash		1,112
Premiums, commissions and fees receivable		1,718
Property and equipment		26
Other assets		19
Goodwill		17,125
Total assets acquired		37,011
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums and producer commissions payable		(586)
Accrued expenses and other current liabilities		(261)
Total liabilities acquired		(847)
Net assets acquired		36,164
Maximum potential contingent earnout consideration (1)		15,930
Purchased customer accounts
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets		101,621
Purchased customer accounts | Lanier
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets					4,312
Purchased customer accounts | Highland
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets					0
Purchased customer accounts | IRP
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets	$ 6,250
Purchased customer accounts | Rosenthal
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets				33,670
Purchased customer accounts | TBA/RBA
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets				53,900
Purchased customer accounts | All Others
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets		3,489
Distributor relationships
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets		19,380
Distributor relationships | Lanier
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets					0
Distributor relationships | Highland
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets					6,500
Distributor relationships | IRP
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets	0
Distributor relationships | Rosenthal
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets				0
Distributor relationships | TBA/RBA
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets				0
Distributor relationships | All Others
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets		12,880
Carrier relationships
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets		659
Carrier relationships | Lanier
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets					0
Carrier relationships | Highland
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets					659
Carrier relationships | IRP
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets	0
Carrier relationships | Rosenthal
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets				0
Carrier relationships | TBA/RBA
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets				0
Carrier relationships | All Others
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets		0
Software
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets		565
Software | Lanier
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets					0
Software | Highland
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets					0
Software | IRP
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets	0
Software | Rosenthal
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets				0
Software | TBA/RBA
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets				0
Software | All Others
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets		565
Trade names
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets		1,409
Trade names | Lanier
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets					0
Trade names | Highland
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets					$ 214
Trade names | IRP
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets	$ 0
Trade names | Rosenthal
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets				939
Trade names | TBA/RBA
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets				$ 179
Trade names | All Others
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets		$ 77

Business Combinations - Sched_2

Business Combinations - Schedule of Weighted-Average Lives of Intangible Assets Acquired in Business Combinations (Details)	9 Months Ended
	Sep. 30, 2020
Purchased customer accounts
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	19 years 3 months 18 days
Distributor relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	20 years
Carrier relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	9 months 18 days
Software
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	2 years
Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	4 years 3 months 18 days

Business Combinations - Sched_3

Business Combinations - Schedule of Future Amortization of Intangible Assets Acquired in Business Combinations (Details) $ in Thousands	Sep. 30, 2020USD ($)
Business Combinations [Abstract]
For the remainder of 2020	$ 2,092
2021	8,545
2022	8,280
2023	8,132
2024	$ 7,942

Business Combinations - Sched_4

Business Combinations - Schedule of Pro Forma Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition, Pro Forma Information [Abstract]
Revenues	$ 66,075	$ 56,095	$ 201,960	$ 163,522
Net income (loss)	(7,588)	$ (3,448)	(882)	$ 5,647
Net loss attributable to BRP Group, Inc.	$ (3,250)		$ (320)
Basic and diluted loss per share	$ (0.10)		$ (0.01)
Weighted-average shares of Class A common stock outstanding - basic and diluted	33,107		24,408

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Variable Interest Entity [Line Items]
Net income (loss)	$ (7,615)	$ (2,306)	$ (10,767)	$ 4,477
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Revenues	180	3,300	583	11,100
Net income (loss)	$ 159	$ 2,400	$ 498	$ 7,100

Variable Interest Entities - Sc

Variable Interest Entities - Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 50,220	$ 67,689
Premiums, commissions and fees receivable, net	98,345	58,793
Total current assets	159,073	132,926
Property and equipment, net	7,791	3,322
Other assets	7,949	5,600
Total assets	722,764	398,768
Liabilities
Premiums payable to insurance companies	83,617	50,541
Producer commissions payable	12,019	7,470
Accrued expenses and other current liabilities	21,851	12,334
Liabilities	306,069	161,494
Variable Interest Entity, Primary Beneficiary
Current Assets
Cash and cash equivalents	122	47
Premiums, commissions and fees receivable, net	153	75
Total current assets	275	122
Property and equipment, net	23	31
Other assets	5	7
Total assets	303	160
Liabilities
Premiums payable to insurance companies	1	6
Producer commissions payable	19	15
Accrued expenses and other current liabilities	7	29
Liabilities	27	50
Variable Interest Entity, Primary Beneficiary | Laureate
Current Assets
Cash and cash equivalents	91	46
Premiums, commissions and fees receivable, net	6	0
Total current assets	97	46
Property and equipment, net	23	31
Other assets	5	5
Total assets	125	82
Liabilities
Premiums payable to insurance companies	0	3
Producer commissions payable	0	2
Accrued expenses and other current liabilities	7	4
Liabilities	7	9
Variable Interest Entity, Primary Beneficiary | Smith
Current Assets
Cash and cash equivalents	1	1
Premiums, commissions and fees receivable, net	64	44
Total current assets	65	45
Property and equipment, net	0	0
Other assets	0	0
Total assets	65	45
Liabilities
Premiums payable to insurance companies	0	0
Producer commissions payable	0	5
Accrued expenses and other current liabilities	0	25
Liabilities	0	30
Variable Interest Entity, Primary Beneficiary | Saunders
Current Assets
Cash and cash equivalents	30	0
Premiums, commissions and fees receivable, net	83	31
Total current assets	113	31
Property and equipment, net	0	0
Other assets	0	2
Total assets	113	33
Liabilities
Premiums payable to insurance companies	1	3
Producer commissions payable	19	8
Accrued expenses and other current liabilities	0	0
Liabilities	$ 20	$ 11

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Total commissions and fees	$ 65,843	$ 38,383	$ 171,270	$ 101,280
Capitalized contract cost, amortization period	5 years		5 years
Direct Bill Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees	$ 26,996	17,664	$ 77,535	53,258
Agency Bill Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees	28,130	14,253	64,815	31,084
Profit Sharing Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees	3,535	1,587	11,285	7,877
Policy Fee and Installment Fee Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees	4,051	2,719	11,086	5,112
Consulting and Service Fee Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees	720	1,111	2,228	2,337
Other Income
Disaggregation of Revenue [Line Items]
Commissions and fees	$ 2,411	$ 1,049	$ 4,321	$ 1,612

Schedule of Contract Assets and

Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Contract with Customer, Asset and Liability [Abstract]
Contract assets	$ 49,872	$ 47,337
Contract liabilities	$ 7,542	$ 5,349

Contract Assets and Liabiliti_3

Contract Assets and Liabilities - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Contract with Customer, Asset and Liability [Abstract]
Revenue recognized related to contract liabilities	$ 5.2

Schedule of Deferred Commission

Schedule of Deferred Commission Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule of Deferred Commission Expense [Roll Forward]
Balance at beginning of period	$ 4,060	$ 3,094	$ 3,621	$ 2,882
Costs capitalized	540	599	1,649	1,280
Amortization	(344)	(274)	(1,014)	(743)
Balance at end of period	$ 4,256	$ 3,419	$ 4,256	$ 3,419

Intangible Assets, Net and Go_3

Intangible Assets, Net and Goodwill - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 231,725	$ 107,390
Accumulated Amortization	(28,170)	(14,940)
Net Carrying Value	203,555	92,450
Purchased customer accounts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	156,303	53,987
Accumulated Amortization	(15,692)	(9,143)
Net Carrying Value	140,611	44,844
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	31,161	30,590
Accumulated Amortization	(9,773)	(5,070)
Net Carrying Value	21,388	25,520
Distributor relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	32,380	13,000
Accumulated Amortization	(1,093)	(331)
Net Carrying Value	31,287	12,669
Carrier relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	7,859	7,200
Accumulated Amortization	(945)	(170)
Net Carrying Value	6,914	7,030
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	4,022	2,613
Accumulated Amortization	(667)	(226)
Net Carrying Value	$ 3,355	$ 2,387

Intangible Assets, Net and Go_4

Intangible Assets, Net and Goodwill - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization for intangible assets	$ 5,185	$ 3,082	$ 13,231	$ 6,793

Intangible Assets, Net and Go_5

Intangible Assets, Net and Goodwill - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2019	$ 164,470
Goodwill of acquired businesses	179,926
Balance at September 30, 2020	344,396
Middle Market
Goodwill [Roll Forward]
Balance at December 31, 2019	52,932
Goodwill of acquired businesses	165,266
Balance at September 30, 2020	218,198
Specialty
Goodwill [Roll Forward]
Balance at December 31, 2019	60,115
Goodwill of acquired businesses	6,267
Balance at September 30, 2020	66,382
MainStreet
Goodwill [Roll Forward]
Balance at December 31, 2019	38,892
Goodwill of acquired businesses	0
Balance at September 30, 2020	38,892
Medicare
Goodwill [Roll Forward]
Balance at December 31, 2019	12,531
Goodwill of acquired businesses	8,393
Balance at September 30, 2020	$ 20,924

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 18, 2020	Mar. 12, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt issuance costs capitalized	$ 2,182	$ 15
Debt repaid	$ 125,000	$ 0
JPMorgan Credit Agreement
Debt Instrument [Line Items]
Maturity date	Sep. 23, 2024
Maximum borrowing amount			$ 400,000	$ 300,000	$ 225,000
Amount available for working capital purposes					$ 65,000
Interest rate	2.19%				3.81%
Incremental Facility Amendment No. 1 | JPMorgan Credit Agreement
Debt Instrument [Line Items]
Debt issuance costs capitalized	$ 230
Incremental Facility Amendment No. 3 | JPMorgan Credit Agreement
Debt Instrument [Line Items]
Debt issuance costs capitalized	$ 1,700

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Villages Broker Commissions
Related Party Transaction [Line Items]
Related party commissions revenue		$ 339	$ 537	$ 1,100	$ 1,000
Director Broker Commissions
Related Party Transaction [Line Items]
Related party commissions revenue		119	152	243	270
Villages Leased Facilities
Related Party Transaction [Line Items]
Related party rent expense		128	125	412	374
Other Related Parties Leased Facilities
Related Party Transaction [Line Items]
Related party rent expense		$ 368	$ 156	$ 1,100	$ 454
LLC Units | Lowry Baldwin
Related Party Transaction [Line Items]
Stock repurchased during period (in shares)	1,875,000
LLC Units | Elizabeth Krystyn
Related Party Transaction [Line Items]
Stock repurchased during period (in shares)	450,000
LLC Units | Laura Sherman
Related Party Transaction [Line Items]
Stock repurchased during period (in shares)	150,000

Share-Based Payment Compensatio

Share-Based Payment Compensation - Additional Information (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)shares	Sep. 30, 2020USD ($)shares
Unvested Restricted Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value		$ 1.9
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1.2	$ 2.5
Minimum | Share-Based Payment Arrangement, Cliff Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period		2 years
Minimum | Share-Based Payment Arrangement, Ratable Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period		3 years
Maximum | Share-Based Payment Arrangement, Cliff Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period		5 years
Maximum | Share-Based Payment Arrangement, Ratable Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period		5 years
Common Class A | Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards authorized by Plan | shares	1,948,414	1,948,414

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Activity of Non-vested Awards under omnibus Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Outstanding, Number of Shares	783,571	330,244
Outstanding, Weighted Average Grant Date Fair Value	$ 15.11	$ 14
Outstanding, Weighted Average Remaining Contractual Terms	2 years 7 months 20 days	3 years 7 months 28 days
Outstanding, Aggregate Intrinsic Value	$ 7,683	$ 677
Granted, Number of Shares	645,843
Granted, Weighted Average Grant Date Fair Value	$ 14.71
Granted, Weighted Average Remaining Contractual Terms	2 years 1 month 24 days
Vested and Settled, Number of Shares	(161,965)
Vested and Settled, Weighted Average Grant Date Fair Value	$ 11.45
Vested and Settled, Aggregate Intrinsic Value	$ 54
Forfeited, Number of Shares	(30,551)
Forfeited, Weighted Average Grant Date Fair Value	$ 14.14

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details)	9 Months Ended
	Sep. 30, 2020shares
Class B Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings (loss) per share (in shares)	45,247,711
Unvested Restricted Class A Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings (loss) per share (in shares)	783,571

Earnings (Loss) Per Share Sched

Earnings (Loss) Per Share Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Basic and diluted net loss per share:
Net loss attributable to BRP Group, Inc.	$ (3,268)	$ (5,388)
Basic and diluted weighted-average shares of Class A common stock outstanding	33,098,356	24,371,304
Basic and diluted net loss per share	$ (0.10)	$ (0.22)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value by Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Level 3 Assets	$ 722,764	$ 398,768
Level 3 Liabilities	306,069	161,494
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingently returnable consideration	299	70
Level 3 Assets	299	70
Contingent earnout liabilities	85,388	48,769
Level 3 Liabilities	$ 85,388	$ 48,769

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in estimated fair value of contingently returnable consideration	$ 229
Maximum estimated refund tor contingently returnable consideration	1,300
Change in estimated fair value of contingent earnout liabilities	12,900
Maximum estimated exposure to contingent earnout liabilities	233,600
Fair value of Revolving Credit Commitment	98,800	$ 40,400
Carrying value of Revolving Credit Commitment	$ 101,000	$ 40,363
Revenue or EBITDA Growth Rate | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent earnout liability input	0.05
Revenue or EBITDA Growth Rate | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent earnout liability input	0.20
Discount Rate | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent earnout liability input	0.0600
Discount Rate | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent earnout liability input	0.1800

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Changes in Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Contingently Returnable Consideration
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 387		$ 70
Change in fair value of contingent consideration	(88)		229
Balance at end of period	299		299
Contingent Earnout Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	78,535	$ 31,111	48,769	$ 9,249
Fair value of contingent consideration issuances	1,424	3,498	26,612	29,117
Change in fair value of contingent consideration	6,367	535	12,926	(3,222)
Payment of contingent consideration	(938)		(2,919)
Balance at end of period	$ 85,388	$ 35,144	$ 85,388	$ 35,144

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	9 Months Ended
	Sep. 30, 2020segment
Segment Reporting [Abstract]
Number of Operating Segments	4

Segment Reporting - Summarized

Segment Reporting - Summarized Financial Information by Operating Group (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Commissions and fees	$ 65,843	$ 38,383	$ 171,270	$ 101,280
Net income (loss)	(7,615)	(2,306)	(10,767)	4,477
Total assets	722,764		722,764		$ 398,768
Middle Market
Segment Reporting Information [Line Items]
Commissions and fees	26,561	12,836	69,311	41,481
Net income (loss)	1,175	295	11,789	10,475
Total assets	405,278		405,278		105,353
Specialty
Segment Reporting Information [Line Items]
Commissions and fees	27,486	16,732	64,358	32,497
Net income (loss)	(1,278)	2,190	(6,190)	1,590
Total assets	195,947		195,947		154,983
MainStreet
Segment Reporting Information [Line Items]
Commissions and fees	7,905	6,642	23,917	18,942
Net income (loss)	1,197	1,016	3,397	4,596
Total assets	59,873		59,873		60,253
Medicare
Segment Reporting Information [Line Items]
Commissions and fees	4,101	2,173	13,894	8,360
Net income (loss)	214	388	2,661	2,833
Total assets	42,362		42,362		17,533
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Commissions and fees	(210)	0	(210)	0
Net income (loss)	(8,923)	$ (6,195)	(22,424)	$ (15,017)
Total assets	$ 19,304		$ 19,304		$ 60,646

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Oct. 14, 2020	Oct. 12, 2020	Sep. 30, 2020	Jun. 18, 2020	Mar. 12, 2020	Dec. 31, 2019
Revolving Credit Facility
Subsequent Event [Line Items]
Maximum borrowing amount				$ 400,000,000	$ 300,000,000	$ 225,000,000
Subsequent Event | Line of Credit | New Credit Agreement | JPMorgan Chase Bank, N.A.
Subsequent Event [Line Items]
Maximum borrowing amount	$ 800,000,000
Subsequent Event | Line of Credit | New Credit Agreement | JPMorgan Chase Bank, N.A. | Revolving Credit Facility
Subsequent Event [Line Items]
Maximum borrowing amount	$ 400,000,000
Subsequent Event | Line of Credit | New Credit Agreement | JPMorgan Chase Bank, N.A. | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum
Subsequent Event [Line Items]
Basis spread on variable rate	2.00%
Subsequent Event | Line of Credit | New Credit Agreement | JPMorgan Chase Bank, N.A. | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum
Subsequent Event [Line Items]
Basis spread on variable rate	3.00%
Subsequent Event | Line of Credit | New Credit Agreement | JPMorgan Chase Bank, N.A. | Medium-term Notes
Subsequent Event [Line Items]
Maximum borrowing amount	$ 400,000,000
Subsequent Event | Line of Credit | New Credit Agreement | JPMorgan Chase Bank, N.A. | Medium-term Notes | London Interbank Offered Rate (LIBOR)
Subsequent Event [Line Items]
Basis spread on variable rate	4.00%
Common Class B
Subsequent Event [Line Items]
Number of shares authorized			50,000,000			50,000,000
Common Class B | Subsequent Event
Subsequent Event [Line Items]
Number of shares authorized		100,000,000