The Baldwin Insurance Group, Inc. (BWIN) 10-Q 9 Aug 21 2021 Q2 Quarterly report Financial data

DEI Statement

DEI Statement - shares	6 Months Ended
	Jun. 30, 2021	Aug. 04, 2021
Document Information [Line Items]
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001781755
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
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	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		47,147,295
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		52,543,601

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current Assets
Cash and cash equivalents	$ 224,479	$ 108,462
Restricted cash	51,505	33,560
Premiums, commissions and fees receivable, net	209,664	155,501
Prepaid expenses and other current assets	5,156	4,447
Due from related parties	0	19
Total current assets	490,804	301,989
Property and equipment, net	11,558	11,019
Other assets	14,885	11,084
Intangible assets, net	547,227	554,320
Goodwill	671,826	651,502
Total assets	1,736,300	1,529,914
Current Liabilities
Premiums payable to insurance companies	177,578	135,576
Producer commissions payable	32,367	24,260
Accrued expenses and other current liabilities	49,639	47,490
Due to related parties	65	0
Current portion of long-term debt	5,000	4,000
Current portion of contingent earnout liabilities	90,160	6,094
Total current liabilities	354,809	217,420
Revolving lines of credit	20,000	0
Long-term debt, less current portion	477,985	381,382
Contingent earnout liabilities, less current portion	88,092	158,725
Other liabilities	3,067	2,419
Total liabilities	943,953	759,946
Mezzanine Equity
Redeemable noncontrolling interest	173	98
Stockholders' Equity Attributable to BRP Group, Inc.
Additional paid-in capital	404,025	392,139
Accumulated deficit	(19,489)	(24,346)
Notes receivable from stockholders	(306)	(465)
Total stockholders’ equity attributable to BRP Group, Inc.	384,701	367,783
Noncontrolling interest	407,473	402,087
Total stockholders’ equity	792,174	769,870
Total liabilities, mezzanine equity and stockholders’ equity	1,736,300	1,529,914
Common Class A
Stockholders' Equity Attributable to BRP Group, Inc.
Common stock	466	450
Common Class B
Stockholders' Equity Attributable to BRP Group, Inc.
Common stock	5	5
Variable Interest Entity, Primary Beneficiary
Current Assets
Cash and cash equivalents	228	143
Premiums, commissions and fees receivable, net	225	130
Total current assets	453	273
Property and equipment, net	19	21
Other assets	5	5
Total assets	477	299
Current Liabilities
Premiums payable to insurance companies	36	5
Producer commissions payable	38	17
Accrued expenses and other current liabilities	12	10
Total liabilities	$ 86	$ 32

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Common Class A
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares outstanding	46,583,582	44,953,166
Common stock, shares issued	46,583,582	44,953,166
Common Class B
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	49,575,871	49,828,383
Common stock, shares issued	49,575,871	49,828,383

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Commissions and fees	$ 119,706	$ 51,268	$ 272,534	$ 105,427
Operating expenses:
Commissions, employee compensation and benefits	89,065	39,263	178,440	73,811
Other operating expenses	19,200	9,546	36,768	18,431
Amortization expense	10,742	4,450	21,279	8,046
Change in fair value of contingent consideration	13,325	4,581	11,822	6,242
Depreciation expense	573	240	1,167	405
Total operating expenses	132,905	58,080	249,476	106,935
Operating income (loss)	(13,199)	(6,812)	23,058	(1,508)
Interest expense, net	(5,848)	(1,047)	(11,491)	(1,632)
Other expense, net	(1,057)	0	(1,057)	0
Total other expense	(6,905)	(1,047)	(12,548)	(1,632)
Income (loss) before income taxes	(20,104)	(7,859)	10,510	(3,140)
Income tax provision	0	0	0	12
Net income (loss)	(20,104)	(7,859)	10,510	(3,152)
Less: net income (loss) attributable to noncontrolling interests	(10,348)	(4,271)	5,653	(1,032)
Net income (loss) attributable to BRP Group, Inc.	(9,756)	(3,588)	4,857	(2,120)
Comprehensive income (loss)	(20,104)	(7,859)	10,510	(3,152)
Comprehensive income (loss) attributable to noncontrolling interests	(10,348)	(4,271)	5,653	(1,032)
Comprehensive income (loss) attributable to BRP Group, Inc.	$ (9,756)	$ (3,588)	$ 4,857	$ (2,120)
Basic earnings (loss) per share	$ (0.22)	$ (0.18)	$ 0.11	$ (0.11)
Diluted earnings (loss) per share	$ (0.22)	$ (0.18)	$ 0.11	$ (0.11)
Weighted-average shares of Class A common stock outstanding - basic	44,671,308	20,426,082	44,464,312	19,959,828
Weighted-average shares of Class A common stock outstanding - diluted	44,671,308	20,426,082	46,160,474	19,959,828

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity and Mezzanine Equity (Unaudited) - USD ($) $ in Thousands	Total	Additional Paid-In Capital	Accumulated Deficit	Notes Receivable from Stockholders	Noncontrolling Interest	Redeemable Noncontrolling Interest	Common Class ACommon Stock	Common Class BCommon Stock
Balance at beginning of period (in shares) at Dec. 31, 2019							19,362,984	43,257,738
Balance at beginning of period, stockholders' equity 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	(3,189)		(2,120)		(1,069)	37
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	135,259				(9,398)		$ 132	$ 144,525
Equity issued in business combinations (in shares)							487,534	4,805,572
Equity issued in business combinations	52,130	7,672			44,453		$ 5
Share-based compensation, net of forfeitures (in shares)							186,197
Share-based compensation, net of forfeitures	2,289	1,692			595		$ 2
Redemption and other repurchases of Class B common stock (in shares)							(40,762)	129,547
Redemption and other repurchases of Class B common stock	(1,292)	(794)			(498)
Repayment of stockholder notes receivable	115			115
Contributions						11
Balance at end of period (in shares) at Jun. 30, 2020							33,302,477	45,458,763
Balance at end of period, stockholders' equity at Jun. 30, 2020	422,563	235,520	(10,770)	(573)	198,049		$ 333	$ 4
Balance at end of period, mezzanine equity at Jun. 30, 2020						71
Balance at beginning of period (in shares) at Mar. 31, 2020							19,847,354	43,544,362
Balance at beginning of period, stockholders' equity at Mar. 31, 2020	254,805	90,443	(7,182)	(647)	171,988		$ 199	$ 4
Balance at beginning of period, mezzanine equity at Mar. 31, 2020						39
Stockholders' Equity [Roll Forward]
Net income	(7,880)		(3,588)		(4,292)	21
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	135,259	144,525			(9,398)		$ 132
Equity issued in business combinations (in shares)								4,518,948
Equity issued in business combinations	39,953				39,953
Share-based compensation, net of forfeitures (in shares)							189,361
Share-based compensation, net of forfeitures	1,644	1,346			296		$ 2
Redemption and other repurchases of Class B common stock (in shares)							(40,762)	129,547
Redemption and other repurchases of Class B common stock	(1,292)	(794)			(498)
Repayment of stockholder notes receivable	74			74
Contributions						11
Balance at end of period (in shares) at Jun. 30, 2020							33,302,477	45,458,763
Balance at end of period, stockholders' equity at Jun. 30, 2020	422,563	235,520	(10,770)	(573)	198,049		$ 333	$ 4
Balance at end of period, mezzanine equity at Jun. 30, 2020						71
Balance at beginning of period (in shares) at Dec. 31, 2020							44,953,166	49,828,383
Balance at beginning of period, stockholders' equity at Dec. 31, 2020	769,870	392,139	(24,346)	(465)	402,087		$ 450	$ 5
Balance at beginning of period, mezzanine equity at Dec. 31, 2020						98
Stockholders' Equity [Roll Forward]
Net income	10,435		4,857		5,578	75
Equity issued in business combinations (in shares)							216,284
Equity issued in business combinations	3,714	1,859			1,853		$ 2
Share-based compensation, net of forfeitures (in shares)							1,161,620
Share-based compensation, net of forfeitures	7,996	7,979			5		$ 12
Redemption and other repurchases of Class B common stock (in shares)							252,512	(252,512)
Redemption and other repurchases of Class B common stock		2,048			(2,050)		$ 2
Repayment of stockholder notes receivable	159			159
Balance at end of period (in shares) at Jun. 30, 2021							46,583,582	49,575,871
Balance at end of period, stockholders' equity at Jun. 30, 2021	792,174	404,025	(19,489)	(306)	407,473		$ 466	$ 5
Balance at end of period, mezzanine equity at Jun. 30, 2021						173
Balance at beginning of period (in shares) at Mar. 31, 2021							45,925,711	49,715,644
Balance at beginning of period, stockholders' equity at Mar. 31, 2021	805,521	398,885	(9,733)	(349)	416,253		$ 460	$ 5
Balance at beginning of period, mezzanine equity at Mar. 31, 2021						125
Stockholders' Equity [Roll Forward]
Net income	(20,152)		(9,756)		(10,396)	48
Equity issued in business combinations (in shares)							62,152
Equity issued in business combinations	1,255	(1,773)			3,028		$ 0
Share-based compensation, net of forfeitures (in shares)							455,946
Share-based compensation, net of forfeitures	5,507	5,734			(232)		$ 5
Redemption and other repurchases of Class B common stock (in shares)							139,773	(139,773)
Redemption and other repurchases of Class B common stock	0	1,179			(1,180)		$ 1
Repayment of stockholder notes receivable	43			43
Balance at end of period (in shares) at Jun. 30, 2021							46,583,582	49,575,871
Balance at end of period, stockholders' equity at Jun. 30, 2021	$ 792,174	$ 404,025	$ (19,489)	$ (306)	$ 407,473		$ 466	$ 5
Balance at end of period, mezzanine equity at Jun. 30, 2021						$ 173

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income (loss)	$ 10,510	$ (3,152)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	22,446	8,451
Change in fair value of contingent consideration	11,822	6,242
Share-based compensation expense	8,087	3,117
Amortization of deferred financing costs	1,443	195
Change in fair value of interest rate caps	825	0
Payment of contingent earnout consideration in excess of purchase price accrual	(602)	(1,316)
Other fair value adjustments	94	0
Changes in operating assets and liabilities, net of effect of acquisitions:
Premiums, commissions and fees receivable, net	(52,357)	(9,464)
Prepaid expenses and other current assets	(2,254)	(334)
Due from related parties	84	(78)
Accounts payable, accrued expenses and other current liabilities	49,321	39,983
Net cash provided by operating activities	49,419	43,644
Cash flows from investing activities:
Capital expenditures	(1,756)	(2,619)
Cash consideration paid for asset acquisitions, net of cash received	(1,575)	(695)
Cash consideration paid for business combinations, net of cash received	(24,276)	(224,112)
Net cash used in investing activities	(27,607)	(227,426)
Cash flows from financing activities:
Proceeds from issuance of Class A common stock, net of underwriting discounts	0	167,346
Redemption and repurchase of LLC Units and Class B common stock	0	(32,610)
Payment of common stock offering costs	0	(769)
Payment of contingent and guaranteed earnout consideration	(828)	(665)
Proceeds from revolving line of credit	20,000	185,637
Proceeds from Issuance of Long-term Debt	97,914	0
Payments on long-term debt	(1,000)	0
Payments of debt issuance costs	(634)	(1,918)
Purchase of interest rate caps	(3,461)	0
Proceeds from repayment of stockholder notes receivable	159	115
Other	0	11
Net cash provided by financing activities	112,150	317,147
Net increase in cash and cash equivalents and restricted cash	133,962	133,365
Cash and cash equivalents and restricted cash at beginning of period	142,022	71,071
Cash and cash equivalents and restricted cash at end of period	275,984	204,436
Supplemental schedule of cash flow information:
Cash paid during the period for interest	11,024	1,486
Disclosure of non-cash investing and financing activities:
Equity issued in business combinations	3,714	52,130
Contingent earnout liabilities assumed in business combinations	7,764	25,188
Noncash debt issuance costs incurred	3,823	0
Capital expenditures incurred but not yet paid	$ 33	$ 0

Business and Basis of Presentat

Business and Basis of Presentation (Notes)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation BRP Group, Inc. (“BRP Group”) was incorporated in the state of Delaware on July 1, 2019. 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 Operating Groups, including Middle Market, Specialty, MainStreet, and Medicare, which are discussed in more detail in Note 15. The term the “Company” refers to BRP Group and its consolidated subsidiaries. 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 Baldwin Risk Partners, LLC (“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 consolidates BRP in its consolidated financial statements, resulting in a noncontrolling interest related to the membership interests of BRP (the “LLC Units”) held by BRP’s LLC members in its consolidated financial statements. The Company has prepared these consolidated financial statements in accordance with Accounting Standards Codification (“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. 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, 2020 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, 2020 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 11, 2021. 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; the determination of fair value in relation to business combinations and purchase price allocation; impairment of long-lived assets including goodwill; valuation of the Tax Receivable Agreement liability and income taxes; and share-based compensation. Recent Accounting Pronouncements As an emerging growth company, the Jumpstart Our Business Startups Act of 2012 (the “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 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.

Significant Accounting Policies

Significant Accounting Policies (Notes)	6 Months Ended
	Jun. 30, 2021
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, 2020 in the Company’s Annual Report on Form 10-K filed with the SEC on March 11, 2021, except as noted below. Derivative Instruments The Company utilizes derivative financial instruments, consisting of interest rate caps, to manage the Company’s interest rate exposure. Derivative instruments are recognized as assets or liabilities at fair value on the condensed consolidated balance sheets. The Company has not designated these derivatives as hedging instruments for accounting purposes and, accordingly, the changes in fair value of these derivatives are recognized in earnings. Cash payments and receipts under the derivative instruments are classified within cash flows from financing activities on the accompanying statements of cash flows. The Company does not use derivative instruments for trading or speculative purposes. Concentrations of Credit Risk

Business Combinations (Notes)

Business Combinations (Notes)	Apr. 01, 2020
Business Combinations [Abstract]
Business Combination Disclosure	Business Combinations The Company completed five business combinations for an aggregate purchase price of $41.1 million during the six months ended June 30, 2021. 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 most business combinations includes an estimation of the fair value of contingent consideration obligations associated with potential earnout provisions, which are generally based on recurring 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 many business combinations also includes an estimation of the fair value of equity interests, which is calculated based on the value of the Company’s Class A common stock on the closing date taking into account a discount for lack of marketability. Any equity interests granted in shares of Class B common stock also include an upward adjustment for the cash flow associated with the Tax Receivable Agreement. The Company completed the following business combinations during the six months ended June 30, 2021: • LeaseTrack Services LLC and Effective Coverage LLC (“LeaseTrack”), a Specialty Partner effective February 1, 2021, was made to provide a complementary service offering to the MGA of the Future’s Master Tenant product for property managers and distribution partners. • Riley Financial, Inc. (operating as “Medicare Help Now”), a Medicare Partner effective March 1, 2021, was made to further bolster the Company’s Medicare business presence in the Pacific Northwest. • Tim Altman, Inc. (operating as “Only Medicare Solutions”), a Medicare Partner effective April 1, 2021, was made to expand the Company’s Pacific Northwest Medicare Advantage presence. • Seniors’ Insurance Services of Washington, Inc. (“Seniors’ Insurance Services”), a Medicare Partner effective April 30, 2021, was made to strengthen and expand the Company’s Medicare presence in the Pacific Northwest. • Mid-Continent Companies, Ltd. and Mid-Continent Securities Ltd. (“Mid-Continent”), a Middle Market Partner effective April 30, 2021, was made to expand the Company’s capabilities and Middle Market presence in Texas. 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 loss from these business combinations of $2.3 million and $785,000, respectively, for the six months ended June 30, 2021. 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 $835,000 for the six months ended June 30, 2021. 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 consolidated financial statements may be provisional and subject to additional adjustments within the measurement period as permitted by Topic 805. Specifically, the Company's valuations of premiums, commissions and fees receivable in accordance with Topic 606 are estimates subject to change based on relevant factors over the policy period. The valuations of intangible assets are also estimates based on assumptions of factors such as discount rates and growth rates. Accordingly, these assets are subject to measurement period adjustments as determined after the passage of time. Any measurement period adjustments related to prior period business combinations are reflected as current period adjustments in accordance with Topic 805. Refer to Note 8 for information regarding measurement period adjustments recorded during the six months ended June 30, 2021. 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 six months ended June 30, 2021. The “All Others” column includes amounts for the Medicare Help Now, Only Medicare Solutions, Seniors’ Insurance Services and Mid-Continent business combinations. (in thousands) LeaseTrack All Others Totals Cash consideration paid $ 12,984 $ 14,021 $ 27,005 Fair value of contingent earnout consideration 6,116 1,648 7,764 Fair value of equity interest 1,652 2,062 3,714 Deferred payment — 2,592 2,592 Total consideration $ 20,752 $ 20,323 $ 41,075 Cash $ 100 $ 155 $ 255 Restricted cash 2 — 2 Premiums, commissions and fees receivable 729 1,077 1,806 Property and equipment 43 — 43 Other assets — 13 13 Intangible assets 5,200 11,797 16,997 Goodwill 15,026 7,553 22,579 Total assets acquired 21,100 20,595 41,695 Premiums payable to insurance companies (318) — (318) Producer commissions payable (4) (268) (272) Accrued expenses and other current liabilities (26) (4) (30) Total liabilities acquired (348) (272) (620) Net assets acquired $ 20,752 $ 20,323 $ 41,075 Maximum potential contingent earnout consideration $ 8,500 $ 10,462 $ 18,962 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 expected to be realized from acquiring the Partners’ assembled workforce and technology, 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 six months ended June 30, 2021 have the following values and estimated weighted-average lives: (in thousands, except weighted-average lives) Amount Weighted-Average Life Purchased customer accounts $ 9,669 17.9 years Distributor relationships 4,858 20.0 years Software 2,095 5.0 years Trade names 375 4.6 years Future annual estimated amortization expense over the next five years for intangible assets acquired in connection with business combinations during the six months ended June 30, 2021 is as follows: (in thousands) Amount For the remainder of 2021 $ 568 2022 1,297 2023 1,265 2024 1,320 2025 1,391 The following unaudited pro forma consolidated results of operations are provided for illustrative purposes only and have been presented as if the acquisitions of LeaseTrack, Medicare Help Now, Only Medicare Solutions, Seniors’ Insurance Services and Mid-Continent occurred on January 1, 2020. 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 Six Months (in thousands, except per share data) 2021 2020 2021 2020 Pro forma results: Revenues $ 120,195 $ 52,880 $ 276,248 $ 110,724 Net income (loss) (20,028) (8,055) 12,081 (1,329) Net income (loss) attributable to BRP Group, Inc. (9,719) (3,656) 5,614 (1,518) Basic earnings (loss) per share $ (0.22) $ (0.18) $ 0.13 $ (0.08) Diluted earnings (loss) per share $ (0.22) $ (0.18) $ 0.12 $ (0.08) Weighted-average shares of Class A common stock outstanding - basic 44,686 20,642 44,537 20,176 Weighted-average shares of Class A common stock outstanding - diluted 44,686 20,642 46,239 20,176

Variable Interest Entities (Not

Variable Interest Entities (Notes)	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 and December 31, 2020, include Laureate Insurance Partners, LLC (“Laureate”), BKS Smith, LLC (“Smith”), BKS MS, LLC (“Saunders”) and BKS Partners Galati Marine Solutions, LLC (“Galati”). 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 $250,000 and $161,000, respectively, for the three months ended June 30, 2021 and $165,000 and $150,000, respectively, for the three months ended June 30, 2020. Total revenues and expenses of the Company’s consolidated VIEs included in the condensed consolidated statements of comprehensive income (loss) were $463,000 and $317,000, respectively, for the six months ended June 30, 2021 and $403,000 and $339,000, respectively, for the six months ended June 30, 2020. 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 June 30, 2021 (in thousands) Laureate Smith Saunders Total Assets Cash and cash equivalents $ 193 $ 9 $ 26 $ 228 Premiums, commissions and fees receivable, net — 120 105 225 Total current assets 193 129 131 453 Property and equipment, net 19 — — 19 Other assets 5 — — 5 Total assets $ 217 $ 129 $ 131 $ 477 Liabilities Premiums payable to insurance companies $ 4 $ 32 $ — $ 36 Producer commissions payable 20 — 18 38 Accrued expenses and other current liabilities 12 — — 12 Total liabilities $ 36 $ 32 $ 18 $ 86 At December 31, 2020 (in thousands) Laureate Smith Saunders Total Assets Cash and cash equivalents $ 120 $ 5 $ 18 $ 143 Premiums, commissions and fees receivable, net 3 52 75 130 Total current assets 123 57 93 273 Property and equipment, net 21 — — 21 Other assets 5 — — 5 Total assets $ 149 $ 57 $ 93 $ 299 Liabilities Premiums payable to insurance companies $ 4 $ — $ 1 $ 5 Producer commissions payable — 4 13 17 Accrued expenses and other current liabilities 10 — — 10 Total liabilities $ 14 $ 4 $ 14 $ 32

Revenue (Notes)

Revenue (Notes)	6 Months Ended
	Jun. 30, 2021
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 Six Months (in thousands) 2021 2020 2021 2020 Direct bill revenue (1) $ 50,358 $ 22,430 $ 144,863 $ 50,539 Agency bill revenue (2) 47,293 20,256 82,633 36,685 Profit-sharing revenue (3) 8,175 2,626 18,467 7,750 Policy fee and installment fee revenue (4) 4,792 3,653 9,268 7,035 Consulting and service fee revenue (5) 5,726 793 11,006 1,508 Other income (6) 3,362 1,510 6,297 1,910 Total commissions and fees $ 119,706 $ 51,268 $ 272,534 $ 105,427 __________ (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)	6 Months Ended
	Jun. 30, 2021
Contract with Customer, Contract Asset, Contract Liability, and Receivable [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) June 30, 2021 December 31, 2020 Contract assets $ 129,999 $ 80,213 Contract liabilities 17,778 11,606 During the six months ended June 30, 2021, the Company recognized revenue of $10.5 million related to the contract liabilities balance at December 31, 2020.

Deferred Commission Expense (No

Deferred Commission Expense (Notes)	6 Months Ended
	Jun. 30, 2021
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 for new business. Deferred commission expense represents employee commissions that are capitalized and not yet expensed and are included in other assets on the condensed consolidated balance sheets. The table below provides a rollforward of deferred commission expense for each of the three and six months ended June 30, 2021 and 2020: For the Three Months For the Six Months (in thousands) 2021 2020 2021 2020 Balance at beginning of period $ 5,164 $ 3,792 $ 4,751 $ 3,621 Costs capitalized 1,351 617 2,186 1,109 Amortization (479) (349) (901) (670) Balance at end of period $ 6,036 $ 4,060 $ 6,036 $ 4,060

Intangible Assets, Net and Good

Intangible Assets, Net and Goodwill (Notes)	6 Months Ended
	Jun. 30, 2021
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 six months ended June 30, 2021. Intangible assets consist of the following: June 30, 2021 December 31, 2020 (in thousands) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Purchased customer accounts (1) $ 508,613 $ (34,370) $ 474,243 $ 501,512 $ (18,604) $ 482,908 Distributor relationships 37,238 (2,157) 35,081 32,380 (1,377) 31,003 Software 32,828 (14,182) 18,646 30,828 (10,801) 20,027 Trade names (1) 14,658 (2,145) 12,513 14,439 (932) 13,507 Carrier relationships 7,859 (1,115) 6,744 7,859 (984) 6,875 Totals $ 601,196 $ (53,969) $ 547,227 $ 587,018 $ (32,698) $ 554,320 __________ (1) During the six months ended June 30, 2021, the Company recorded measurement period adjustments relating to certain businesses acquired in the fourth quarter of 2020, which decreased purchased customer accounts and trade names by $4.6 million and $156,000, respectively. Amortization expense recorded for intangible assets was $10.7 million and $4.5 million for the three months ended June 30, 2021 and 2020, respectively, and $21.3 million and $8.0 million for the six months ended June 30, 2021 and 2020, respectively. Refer to Note 3 for a summary of goodwill recorded in connection with business combinations during the six months ended June 30, 2021. 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, 2020 $ 526,858 $ 65,319 $ 38,892 $ 20,433 $ 651,502 Goodwill of acquired businesses 3,374 15,026 — 4,179 22,579 Measurement period adjustments (1) (2,255) — — — (2,255) Balance at June 30, 2021 $ 527,977 $ 80,345 $ 38,892 $ 24,612 $ 671,826 __________ (1) Measurement period adjustments relating to businesses acquired in the fourth quarter of 2020 increased accrued expenses and other current liabilities by $93,000, decreased property and equipment by $124,000 and decreased cash consideration by $2.5 million.

Long-term Debt (Notes)

Long-term Debt (Notes)	Jun. 30, 2021
Debt Disclosure [Abstract]
Long-term Debt	Long-Term Debt On October 14, 2020, the Company entered into a credit agreement with JPMorgan Chase Bank, N.A to provide senior secured credit facilities in an aggregate principal amount of $800.0 million (the "JPM Credit Agreement"), which consisted of (i) a term loan facility in the principal amount of $400.0 million maturing in 2027 (the “Existing Term Loan B”) and (ii) a revolving credit facility with commitments in an aggregate principal amount of $400.0 million maturing in 2025 (the “Revolving Facility”). The Existing Term Loan B accrued interest at LIBOR plus 400 basis points (“bps”) with a floor of 4.75%. Borrowings under the Revolving Facility accrue interest at LIBOR plus 200 bps to LIBOR plus 300 bps based on the total net leverage ratio. The outstanding borrowings on the Revolving Facility of $20.0 million had an applicable interest rate of 2.34% at June 30, 2021. In addition, the Revolving Facility is subject to a commitment fee of 0.30%. On May 7, 2021, the Company entered into Amendment No. 1 to the JPM Credit Agreement, under which (a) the financial covenant requiring the Company to maintain a Total First Lien Net Leverage Ratio (as defined in the JPM Credit Agreement) at or below 5.00 to 1.00 was amended to increase such level to 6.00 to 1.00, and (b) the financial covenant requiring the Company to maintain a Debt Service Coverage Ratio (as defined in the JPM Credit Agreement) at or above 2.25 to 1.00 was removed. On June 2, 2021, the Company entered into Amendment No. 2 to the JPM Credit Agreement to provide for a new senior secured first lien term loan facility in an aggregate principal amount of $500.0 million maturing in 2027 (the “New Term Loan B”). The New Term Loan B bears interest at LIBOR plus 350 bps, subject to a LIBOR floor of 50 bps. The applicable interest rate on the Term Loan B at June 30, 2021 was 4.00%. The Company used a portion of the proceeds from the New Term Loan B to repay in full the Company’s obligations under the Existing Term Loan B. The remaining terms of the New Term Loan B and the terms of the Revolving Facility remained relatively unchanged. The JPM Credit Agreement requires the Company to meet certain financial covenants and comply with customary affirmative and negative covenants as listed in the underlying agreement. The Company was in compliance with these covenants at June 30, 2021. Interest Rate Caps The Company entered into interest rate caps to mitigate its exposure to interest rate risk by limiting the impact of interest rate changes on cash flows. In March 2021, the Company executed three interest rate cap agreements, each with a notional amount of $300.0 million (the “Interest Rate Cap Agreements”), which collectively limit the exposure of the variable component of interest rates under its Term Loan B to a maximum of 4.75%. The Interest Rate Cap Agreements were entered into with financial institutions at positions with participating interest rate caps of 0.75%, 1.50%, and 2.50%, expiring on March 10, 2022, March 10, 2024 and March 8, 2026, respectively. The interest rate caps are recorded at an aggregate fair value of $2.6 million at June 30, 2021 and included as a component of other assets on the condensed consolidated balance sheets. The Company recorded a fair value loss of $825,000 related to the interest rate caps for the three and six months ended June 30, 2021, which is included as a component of other expense, net in the condensed consolidated statements of comprehensive income (loss).

Related Party Transactions (Not

Related Party Transactions (Notes)	6 Months Ended
	Jun. 30, 2021
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. (“The Villages”) and certain affiliated entities. Commission revenue recorded as a result of transactions with The Villages was $667,000 and $452,000 for the three months ended June 30, 2021 and 2020, respectively, and $1.3 million and $721,000 for the six months ended June 30, 2021 and 2020, respectively. Rent Expense The Company has various agreements to lease office space from wholly-owned subsidiaries of The Villages. Total rent expense incurred with respect to The Villages and its wholly-owned subsidiaries was $130,000 and $151,000 for the three months ended June 30, 2021 and 2020, respectively, and $261,000 and $284,000 for the six months ended June 30, 2021 and 2020, respectively. The Company has various agreements to lease office space from other related party entities. Total rent expense incurred with respect to related parties other than The Villages was $524,000 and $516,000 for the three months ended June 30, 2021 and 2020, respectively, and $1.0 million and $764,000 for the six months ended June 30, 2021 and 2020, respectively.

Share-Based Compensation (Notes

Share-Based Compensation (Notes)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Omnibus Incentive Plan and Partnership Inducement Award Plan The Company has an Omnibus Incentive Plan (the “Omnibus Plan”) and a Partnership Inducement Award Plan (the “Inducement Plan” and collectively, the “Plans”) to motivate and reward Colleagues and other individuals, including those who join the Company through Partnerships, 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 and the Inducement Plan provide for the Company to make awards of 3,844,044 and 1,500,000 shares of Class A common stock, respectively, at June 30, 2021. During the six months ended June 30, 2021, the Company made awards of restricted stock, unrestricted stock and performance-based restricted stock units under the Plans to its non-employee directors and Colleagues. Performance-based restricted stock unit awards were issued under the Omnibus Plan in connection with the Long-Term Incentive Plan, which is discussed in further detail below. Shares of unrestricted stock issued to directors during the six months ended June 30, 2021 were vested upon issuance while restricted stock issued to Colleagues, Risk Advisors and executive officers generally either cliff vest after 4 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 Plans: Shares Weighted-Average Grant-Date Fair Value Per Share Outstanding at December 31, 2020 826,027 $ 15.92 Granted 1,331,672 28.92 Vested and settled (161,335) 24.19 Forfeited (26,611) 19.78 Outstanding at June 30, 2021 1,969,753 23.98 The total fair value of shares that vested and settled under the Plans during the six months ended June 30, 2021 was $3.9 million. Share-based compensation includes expense recognized for management incentive units and advisor incentives, in addition to issuances under the Plans. The Company recognizes share-based compensation expense for the Plans net of actual forfeitures. The Company recorded total share-based compensation expense of $4.5 million and $2.0 million for the three months ended June 30, 2021 and 2020, respectively, and $8.1 million and $3.1 million for the six months ended June 30, 2021 and 2020, respectively, which is included in commissions, employee compensation and benefits expense in the condensed consolidated statements of comprehensive income (loss). Long-Term Incentive Plan On May 3, 2021, the Company’s Compensation Committee approved a new form of performance-based restricted stock unit award agreement (the “Form PSU Award Agreement”) under the Company’s Omnibus Plan in connection with the granting of performance-based restricted stock unit (“PSU”) awards to its executive officers. The Form PSU Award Agreement provides for the granting of PSUs which generally vest in the quarter following the end of a performance period of three years. The number of PSUs, if any, that will be earned pursuant to a PSU award will depend on the level of performance achieved with respect to applicable performance goals during the performance period.

Earnings (Loss) Per Share (Note

Earnings (Loss) Per Share (Notes)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic earnings (loss) per share is computed by dividing net income (loss) 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. During the periods presented, potentially dilutive securities include restricted stock awards and shares of Class B common stock that are cancellable upon the redemption or exchange, on a one-for-one basis, of LLC Units for shares of our Class A common stock. The 1,864,337 shares of unvested restricted Class A common stock were excluded from the diluted calculation for the three months ended June 30, 2021 and the 398,024 shares of unvested restricted Class A common stock were excluded from the diluted calculation for the three and six months ended June 30, 2020 as their inclusion would have been anti-dilutive because the Company was in a net loss position during these periods. In addition, the 49,575,871 and 45,458,763 outstanding shares of Class B common stock and the corresponding LLC Units have been excluded from the diluted calculation for all periods presented because including them on an “if-converted” basis would have an anti-dilutive effect. 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 following is a calculation of the basic and diluted weighted-average number of shares of Class A common stock outstanding and earnings (loss) per share for the three and six months ended June 30, 2021 and 2020. For the Three Months For the Six Months (in thousands, except per share data) 2021 2020 2021 2020 Basic earnings (loss) per share: Net income (loss) attributable to BRP Group, Inc. $ (9,756) $ (3,588) $ 4,857 $ (2,120) Shares used for basic earnings (loss) per share: Weighted-average shares of Class A common stock outstanding - basic 44,671 20,426 44,464 19,960 Basic earnings (loss) per share $ (0.22) $ (0.18) $ 0.11 $ (0.11) Diluted earnings (loss) per share: Net income (loss) attributable to BRP Group, Inc. $ (9,756) $ (3,588) $ 4,857 $ (2,120) Shares used for diluted earnings (loss) per share: Weighted-average shares of Class A common stock outstanding 44,671 20,426 44,464 19,960 Dilutive effect of unvested restricted shares of Class A common stock — — 1,696 — Weighted-average shares of Class A common stock outstanding - diluted 44,671 20,426 46,160 19,960 Diluted earnings (loss) per share $ (0.22) $ (0.18) $ 0.11 $ (0.11)

Fair Value Measurements (Notes)

Fair Value Measurements (Notes)	6 Months Ended
	Jun. 30, 2021
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. The fair value measurement level for assets and liabilities 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 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) June 30, 2021 December 31, 2020 Level 2 Interest rate caps $ 2,636 $ — Level 2 Assets $ 2,636 $ — Level 3 Contingent earnout liabilities $ 178,252 $ 164,819 Level 3 Liabilities $ 178,252 $ 164,819 Methodologies used for assets and liabilities measured at fair value on a recurring basis within Level 3 of the fair value hierarchy at June 30, 2021 and December 31, 2020 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 fair value of interest rate caps was $2.6 million at June 30, 2021. The fair value of interest rate caps are determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates rise above the strike rate of the caps. The variable interest rates used in the calculation of projected receipts on the cap are based on an expectation of future interest rates derived from observable market interest rate curves and volatilities. 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 its contingent earnout liabilities, the Company recorded a net increase in the estimated fair value of such liabilities of $11.8 million for the six months ended June 30, 2021. The Company has assessed the maximum estimated exposure to the contingent earnout liabilities to be $531.0 million at June 30, 2021. 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 contingent earnout consideration recorded in connection with business combinations. 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, profitability based on earnings before income taxes, depreciation and amortization (“EBITDA”), or the number of rental units tracked. Revenue and EBITDA growth rates generally ranged from 10% to 24% at June 30, 2021 and from 7% to 20% at December 31, 2020. 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 5.25% to 18.50% at June 30, 2021 and from 5.00% to 18.00% at December 31, 2020. 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 June 30, For the Six Months Ended June 30, 2021 (1) 2020 2020 2021 (1) 2020 2020 (in thousands) Contingent Earnout Liabilities Contingently Returnable Consideration Contingent Earnout Liabilities Contingent Earnout Liabilities Contingently Returnable Consideration Contingent Earnout Liabilities Balance at beginning of period $ 165,283 $ 258 $ 53,855 $ 164,819 $ 70 $ 48,769 Fair value of contingent consideration issuances (2) 1,074 — 21,951 3,041 — 25,188 Change in fair value of contingent consideration 13,325 129 4,710 11,822 317 6,559 Payment of contingent consideration (1,430) — (1,981) (1,430) — (1,981) Balance at end of period $ 178,252 $ 387 $ 78,535 $ 178,252 $ 387 $ 78,535 __________ (1) There was no contingently returnable consideration at June 30, 2021 or December 31, 2020. (2) During the six months ended June 30, 2021, the Company recorded measurement period adjustments relating to businesses acquired in the fourth quarter of 2020. These adjustments decreased contingent earnout liabilities by $4.7 million, which offsets issuances of $7.8 million from business combinations in the current period. Substantially all of the change in fair value of contingent consideration during the six months ended June 30, 2021 and 2020 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 long-term debt 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 long-term debt was approximately $484.1 million at June 30, 2021 compared to a carrying value of $500.0 million. The fair value of long-term debt was approximately $402.0 million at December 31, 2020 compared to a carrying value of $399.0 million. The carrying value of long-term debt is netted against unamortized debt discount and issuance costs of $17.0 million and $13.6 million at June 30, 2021 and December 31, 2020, respectively, for balance sheet presentation.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
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)	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees (1) $ 76,109 $ 30,105 $ 8,576 $ 5,152 $ (236) $ 119,706 Net income (loss) (5,699) 1,640 978 468 (17,491) (20,104) __________ (1) The Middle Market Operating Group recorded intercompany commissions and fees revenue from activity with the Specialty Operating Group of $109,000 for the three months ended June 30, 2021. The MainStreet Operating Group recorded intercompany commissions and fees revenue from activity with the Middle Market Operating Group of $61,000 for the three months ended June 30, 2021. The Medicare Operating group recorded intercompany commissions and fees revenue from activity with itself of $66,000 for the three months ended June 30, 2021. These intercompany commissions and fees are eliminated through Corporate and Other. For the Three Months Ended June 30, 2020 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees $ 20,718 $ 19,456 $ 7,704 $ 3,390 $ — $ 51,268 Net income (loss) 2,425 (3,223) 956 (167) (7,850) (7,859) For the Six Months Ended June 30, 2021 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees (1) $ 186,664 $ 55,187 $ 16,798 $ 14,604 $ (719) $ 272,534 Net income (loss) 35,755 3,473 2,272 2,750 (33,740) 10,510 __________ (1) The Middle Market Operating Group recorded intercompany commissions and fees revenue from activity with the Specialty Operating Group of $468,000 for the six months ended June 30, 2021. The MainStreet Operating Group recorded intercompany commissions and fees revenue from activity with the Middle Market Operating Group of $91,000 for the six months ended June 30, 2021. The Medicare Operating group recorded intercompany commissions and fees revenue from activity with itself of $160,000 for the six months ended June 30, 2021. These intercompany commissions and fees are eliminated through Corporate and Other. For the Six Months Ended June 30, 2020 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees $ 42,750 $ 36,872 $ 16,012 $ 9,793 $ — $ 105,427 Net income (loss) 10,614 (4,912) 2,200 2,447 (13,501) $ (3,152) (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Total assets at June 30, 2021 $ 1,266,614 $ 214,940 $ 57,730 $ 54,958 $ 142,058 $ 1,736,300 Total assets at December 31, 2020 1,194,185 188,360 58,957 43,675 44,737 1,529,914

Subsequent Events (Notes)

Subsequent Events (Notes)	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Business Partnerships On July 1, 2021, the Company purchased certain assets and intellectual and intangible rights and assumed certain liabilities of RogersGray Inc., Breakwater Brokerage, LLC and Monomoy Insurance Group, LLC (collectively, “RogersGray”) for upfront consideration consisting of $138.1 million of cash (which was reduced by the value of shares of Class A common stock issued to RogersGray colleagues in connection with the Partnership) and 1,950,232 LLC Units (and the corresponding 1,950,232 shares of Class B common stock). RogersGray will also have the opportunity to receive additional contingent consideration payable in cash, shares of Class A common stock, or a combination of both at the Company’s sole option. The Partnership enhances and further expands the Company’s geographic footprint and product offerings in New England and the broader Northeast region. The Company has not yet completed its evaluation and determination of consideration paid, certain assets and liabilities acquired, or treatment of this transaction as either a business combination or asset acquisition in accordance with Topic 805. On August 2, 2021, the Company purchased certain assets and intellectual and intangible rights and assumed certain liabilities of FounderShield LLC, AlphaRoot LLC, ReShield LLC, and Scale Underwriting Services LLC (collectively, “FounderShield”) for upfront consideration consisting of $26.7 million of cash (which was reduced by the value of shares of Class A common stock issued to FounderShield colleagues in connection with the Partnership), 304,628 shares of Class A common stock and 364,174 LLC Units (and the corresponding 364,174 shares of Class B common stock). FounderShield will also have the opportunity to receive additional contingent consideration payable in cash, shares of Class A common stock, or a combination of both at the Company’s sole option. The Partnership brings to BRP Group unique expertise for rapidly-scaling companies in numerous high-growth industry verticals across the Technology & Fintech, Life Sciences and Emerging Markets sectors. The Company has not yet completed its evaluation and determination of consideration paid, certain assets and liabilities acquired, or treatment of this transaction as either a business combination or asset acquisition in accordance with Topic 805. On August 2, 2021, the Company purchased certain assets and intellectual and intangible rights and assumed certain liabilities of The Capital Group, LLC, The Capital Group Association Consultants, LLC, US Underwriters, LLC, and TCG Financial Management Company, LLC, including the membership interests of The Capital Group Investment Advisory Services, LLC (collectively, “TCG”) for upfront consideration consisting of $40.4 million of cash (which was reduced by the value of shares of Class A common stock issued to TCG colleagues in connection with the Partnership) and 653,324 LLC Units (and the corresponding 653,324 shares of Class B common stock). TCG will also have the opportunity to receive additional contingent consideration payable in cash, shares of Class A common stock, or a combination of both at the Company’s sole option. The Partnership adds scale and density in the critical D.C. Metro region. The Company has not yet completed its evaluation and determination of consideration paid, certain assets and liabilities acquired, or treatment of this transaction as either a business combination or asset acquisition in accordance with Topic 805. JPM Credit Agreement On August 6, 2021, the Company entered into Amendment No. 3 to the JPM Credit Agreement, under which the aggregate principal amount of the Revolving Facility was increased from $400.0 million to $475.0 million. The other terms of the Revolving Facility and the terms of the New Term Loan B remained unchanged.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
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 Baldwin Risk Partners, LLC (“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 consolidates BRP in its consolidated financial statements, resulting in a noncontrolling interest related to the membership interests of BRP (the “LLC Units”) held by BRP’s LLC members in its consolidated financial statements. The Company has prepared these consolidated financial statements in accordance with Accounting Standards Codification (“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.
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; the determination of fair value in relation to business combinations and purchase price allocation; impairment of long-lived assets including goodwill; valuation of the Tax Receivable Agreement liability and income taxes; and share-based compensation.
Recent Accounting Pronouncements	As an emerging growth company, the Jumpstart Our Business Startups Act of 2012 (the “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 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.
Derivatives	The Company utilizes derivative financial instruments, consisting of interest rate caps, to manage the Company’s interest rate exposure. Derivative instruments are recognized as assets or liabilities at fair value on the condensed consolidated balance sheets. The Company has not designated these derivatives as hedging instruments for accounting purposes and, accordingly, the changes in fair value of these derivatives are recognized in earnings. Cash payments and receipts under the derivative instruments are classified within cash flows from financing activities on the accompanying statements of cash flows. The Company does not use derivative instruments for trading or speculative purposes.
Concentrations of Credit Risk	Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents. The Company manages this risk using high creditworthy financial institutions. Interest-bearing accounts and noninterest-bearing accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. Deposits exceed amounts insured by the FDIC. The Company has not experienced any losses from its deposits.

Business Combinations (Tables)

Business Combinations (Tables)	Apr. 01, 2020	Jun. 30, 2021
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 six months ended June 30, 2021. The “All Others” column includes amounts for the Medicare Help Now, Only Medicare Solutions, Seniors’ Insurance Services and Mid-Continent business combinations. (in thousands) LeaseTrack All Others Totals Cash consideration paid $ 12,984 $ 14,021 $ 27,005 Fair value of contingent earnout consideration 6,116 1,648 7,764 Fair value of equity interest 1,652 2,062 3,714 Deferred payment — 2,592 2,592 Total consideration $ 20,752 $ 20,323 $ 41,075 Cash $ 100 $ 155 $ 255 Restricted cash 2 — 2 Premiums, commissions and fees receivable 729 1,077 1,806 Property and equipment 43 — 43 Other assets — 13 13 Intangible assets 5,200 11,797 16,997 Goodwill 15,026 7,553 22,579 Total assets acquired 21,100 20,595 41,695 Premiums payable to insurance companies (318) — (318) Producer commissions payable (4) (268) (272) Accrued expenses and other current liabilities (26) (4) (30) Total liabilities acquired (348) (272) (620) Net assets acquired $ 20,752 $ 20,323 $ 41,075 Maximum potential contingent earnout consideration $ 8,500 $ 10,462 $ 18,962
Schedule of Weighted-Average Useful Lives of Intangible Assets Acquired in Business Combinations		The intangible assets acquired in connection with business combinations during the six months ended June 30, 2021 have the following values and estimated weighted-average lives: (in thousands, except weighted-average lives) Amount Weighted-Average Life Purchased customer accounts $ 9,669 17.9 years Distributor relationships 4,858 20.0 years Software 2,095 5.0 years Trade names 375 4.6 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 six months ended June 30, 2021 is as follows: (in thousands) Amount For the remainder of 2021 $ 568 2022 1,297 2023 1,265 2024 1,320 2025 1,391
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 LeaseTrack, Medicare Help Now, Only Medicare Solutions, Seniors’ Insurance Services and Mid-Continent occurred on January 1, 2020. 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 Six Months (in thousands, except per share data) 2021 2020 2021 2020 Pro forma results: Revenues $ 120,195 $ 52,880 $ 276,248 $ 110,724 Net income (loss) (20,028) (8,055) 12,081 (1,329) Net income (loss) attributable to BRP Group, Inc. (9,719) (3,656) 5,614 (1,518) Basic earnings (loss) per share $ (0.22) $ (0.18) $ 0.13 $ (0.08) Diluted earnings (loss) per share $ (0.22) $ (0.18) $ 0.12 $ (0.08) Weighted-average shares of Class A common stock outstanding - basic 44,686 20,642 44,537 20,176 Weighted-average shares of Class A common stock outstanding - diluted 44,686 20,642 46,239 20,176

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 (in thousands) Laureate Smith Saunders Total Assets Cash and cash equivalents $ 193 $ 9 $ 26 $ 228 Premiums, commissions and fees receivable, net — 120 105 225 Total current assets 193 129 131 453 Property and equipment, net 19 — — 19 Other assets 5 — — 5 Total assets $ 217 $ 129 $ 131 $ 477 Liabilities Premiums payable to insurance companies $ 4 $ 32 $ — $ 36 Producer commissions payable 20 — 18 38 Accrued expenses and other current liabilities 12 — — 12 Total liabilities $ 36 $ 32 $ 18 $ 86 At December 31, 2020 (in thousands) Laureate Smith Saunders Total Assets Cash and cash equivalents $ 120 $ 5 $ 18 $ 143 Premiums, commissions and fees receivable, net 3 52 75 130 Total current assets 123 57 93 273 Property and equipment, net 21 — — 21 Other assets 5 — — 5 Total assets $ 149 $ 57 $ 93 $ 299 Liabilities Premiums payable to insurance companies $ 4 $ — $ 1 $ 5 Producer commissions payable — 4 13 17 Accrued expenses and other current liabilities 10 — — 10 Total liabilities $ 14 $ 4 $ 14 $ 32

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2021
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 Six Months (in thousands) 2021 2020 2021 2020 Direct bill revenue (1) $ 50,358 $ 22,430 $ 144,863 $ 50,539 Agency bill revenue (2) 47,293 20,256 82,633 36,685 Profit-sharing revenue (3) 8,175 2,626 18,467 7,750 Policy fee and installment fee revenue (4) 4,792 3,653 9,268 7,035 Consulting and service fee revenue (5) 5,726 793 11,006 1,508 Other income (6) 3,362 1,510 6,297 1,910 Total commissions and fees $ 119,706 $ 51,268 $ 272,534 $ 105,427 __________ (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)	6 Months Ended
	Jun. 30, 2021
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Schedule of Contract Assets and Liabilities	The balances of contract assets and liabilities arising from contracts with customers are as follows: (in thousands) June 30, 2021 December 31, 2020 Contract assets $ 129,999 $ 80,213 Contract liabilities 17,778 11,606

Deferred Commission Expense (Ta

Deferred Commission Expense (Tables)	6 Months Ended
	Jun. 30, 2021
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 six months ended June 30, 2021 and 2020: For the Three Months For the Six Months (in thousands) 2021 2020 2021 2020 Balance at beginning of period $ 5,164 $ 3,792 $ 4,751 $ 3,621 Costs capitalized 1,351 617 2,186 1,109 Amortization (479) (349) (901) (670) Balance at end of period $ 6,036 $ 4,060 $ 6,036 $ 4,060

Intangible Assets, Net and Go_2

Intangible Assets, Net and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consist of the following: June 30, 2021 December 31, 2020 (in thousands) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Purchased customer accounts (1) $ 508,613 $ (34,370) $ 474,243 $ 501,512 $ (18,604) $ 482,908 Distributor relationships 37,238 (2,157) 35,081 32,380 (1,377) 31,003 Software 32,828 (14,182) 18,646 30,828 (10,801) 20,027 Trade names (1) 14,658 (2,145) 12,513 14,439 (932) 13,507 Carrier relationships 7,859 (1,115) 6,744 7,859 (984) 6,875 Totals $ 601,196 $ (53,969) $ 547,227 $ 587,018 $ (32,698) $ 554,320 __________ (1) During the six months ended June 30, 2021, the Company recorded measurement period adjustments relating to certain businesses acquired in the fourth quarter of 2020, which decreased purchased customer accounts and trade names by $4.6 million and $156,000, respectively.
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, 2020 $ 526,858 $ 65,319 $ 38,892 $ 20,433 $ 651,502 Goodwill of acquired businesses 3,374 15,026 — 4,179 22,579 Measurement period adjustments (1) (2,255) — — — (2,255) Balance at June 30, 2021 $ 527,977 $ 80,345 $ 38,892 $ 24,612 $ 671,826 __________ (1) Measurement period adjustments relating to businesses acquired in the fourth quarter of 2020 increased accrued expenses and other current liabilities by $93,000, decreased property and equipment by $124,000 and decreased cash consideration by $2.5 million.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Activity of Non-vested Awards under Omnibus and Partnership Inducement Plans	The following table summarizes the activity for non-vested awards granted by the Company under the Plans: Shares Weighted-Average Grant-Date Fair Value Per Share Outstanding at December 31, 2020 826,027 $ 15.92 Granted 1,331,672 28.92 Vested and settled (161,335) 24.19 Forfeited (26,611) 19.78 Outstanding at June 30, 2021 1,969,753 23.98

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings (Loss) 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 (loss) per share for the three and six months ended June 30, 2021 and 2020. For the Three Months For the Six Months (in thousands, except per share data) 2021 2020 2021 2020 Basic earnings (loss) per share: Net income (loss) attributable to BRP Group, Inc. $ (9,756) $ (3,588) $ 4,857 $ (2,120) Shares used for basic earnings (loss) per share: Weighted-average shares of Class A common stock outstanding - basic 44,671 20,426 44,464 19,960 Basic earnings (loss) per share $ (0.22) $ (0.18) $ 0.11 $ (0.11) Diluted earnings (loss) per share: Net income (loss) attributable to BRP Group, Inc. $ (9,756) $ (3,588) $ 4,857 $ (2,120) Shares used for diluted earnings (loss) per share: Weighted-average shares of Class A common stock outstanding 44,671 20,426 44,464 19,960 Dilutive effect of unvested restricted shares of Class A common stock — — 1,696 — Weighted-average shares of Class A common stock outstanding - diluted 44,671 20,426 46,160 19,960 Diluted earnings (loss) per share $ (0.22) $ (0.18) $ 0.11 $ (0.11)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
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) June 30, 2021 December 31, 2020 Level 2 Interest rate caps $ 2,636 $ — Level 2 Assets $ 2,636 $ — Level 3 Contingent earnout liabilities $ 178,252 $ 164,819 Level 3 Liabilities $ 178,252 $ 164,819
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 June 30, For the Six Months Ended June 30, 2021 (1) 2020 2020 2021 (1) 2020 2020 (in thousands) Contingent Earnout Liabilities Contingently Returnable Consideration Contingent Earnout Liabilities Contingent Earnout Liabilities Contingently Returnable Consideration Contingent Earnout Liabilities Balance at beginning of period $ 165,283 $ 258 $ 53,855 $ 164,819 $ 70 $ 48,769 Fair value of contingent consideration issuances (2) 1,074 — 21,951 3,041 — 25,188 Change in fair value of contingent consideration 13,325 129 4,710 11,822 317 6,559 Payment of contingent consideration (1,430) — (1,981) (1,430) — (1,981) Balance at end of period $ 178,252 $ 387 $ 78,535 $ 178,252 $ 387 $ 78,535 __________ (1) There was no contingently returnable consideration at June 30, 2021 or December 31, 2020.

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees (1) $ 76,109 $ 30,105 $ 8,576 $ 5,152 $ (236) $ 119,706 Net income (loss) (5,699) 1,640 978 468 (17,491) (20,104) __________ (1) The Middle Market Operating Group recorded intercompany commissions and fees revenue from activity with the Specialty Operating Group of $109,000 for the three months ended June 30, 2021. The MainStreet Operating Group recorded intercompany commissions and fees revenue from activity with the Middle Market Operating Group of $61,000 for the three months ended June 30, 2021. The Medicare Operating group recorded intercompany commissions and fees revenue from activity with itself of $66,000 for the three months ended June 30, 2021. These intercompany commissions and fees are eliminated through Corporate and Other. For the Three Months Ended June 30, 2020 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees $ 20,718 $ 19,456 $ 7,704 $ 3,390 $ — $ 51,268 Net income (loss) 2,425 (3,223) 956 (167) (7,850) (7,859) For the Six Months Ended June 30, 2021 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees (1) $ 186,664 $ 55,187 $ 16,798 $ 14,604 $ (719) $ 272,534 Net income (loss) 35,755 3,473 2,272 2,750 (33,740) 10,510 __________ (1) The Middle Market Operating Group recorded intercompany commissions and fees revenue from activity with the Specialty Operating Group of $468,000 for the six months ended June 30, 2021. The MainStreet Operating Group recorded intercompany commissions and fees revenue from activity with the Middle Market Operating Group of $91,000 for the six months ended June 30, 2021. The Medicare Operating group recorded intercompany commissions and fees revenue from activity with itself of $160,000 for the six months ended June 30, 2021. These intercompany commissions and fees are eliminated through Corporate and Other. For the Six Months Ended June 30, 2020 (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Commissions and fees $ 42,750 $ 36,872 $ 16,012 $ 9,793 $ — $ 105,427 Net income (loss) 10,614 (4,912) 2,200 2,447 (13,501) $ (3,152) (in thousands) Middle Market Specialty MainStreet Medicare Corporate and Other Total Total assets at June 30, 2021 $ 1,266,614 $ 214,940 $ 57,730 $ 54,958 $ 142,058 $ 1,736,300 Total assets at December 31, 2020 1,194,185 188,360 58,957 43,675 44,737 1,529,914

Business and Basis of Present_2

Business and Basis of Presentation - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Date of incorporation or formation	Jul. 1, 2019

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Details)	Jun. 30, 2021USD ($)
Accounting Policies [Abstract]
Cash, FDIC Insured Amount	$ 250,000

Business Combinations - Additio

Business Combinations - Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)numberOfBusinessCombinations
Business Acquisition [Line Items]
Number of Businesses Acquired | numberOfBusinessCombinations	5
Business combinations aggregate purchase price	$ 41,075
Goodwill, amortization period for tax purposes	15 years
Total revenues recognized from business combinations	$ 2,300
Net income (loss) recognized from business combinations	(785)
Acquisition related costs incurred	835
LeaseTrack
Business Acquisition [Line Items]
Business combinations aggregate purchase price	$ 20,752
Effective date of acquisition	Feb. 1, 2021
Riley Financial, Inc.
Business Acquisition [Line Items]
Effective date of acquisition	Mar. 1, 2021
Only Medicare Solutions
Business Acquisition [Line Items]
Effective date of acquisition	Apr. 1, 2021
Seniors' Insurance Services
Business Acquisition [Line Items]
Effective date of acquisition	Apr. 30, 2021
Mid-Continent
Business Acquisition [Line Items]
Effective date of acquisition	Apr. 30, 2021

Business Combinations - Schedul

Business Combinations - Schedule of Business Acquisitions (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid	$ 27,005
Fair value of contingent earnout consideration	7,764	$ 25,188
Fair value of equity interest	3,714	$ 52,130
Deferred payment	2,592
Total consideration	41,075
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash	255
Restricted cash	2
Premiums, commissions and fees receivable	1,806
Property and equipment	43
Other assets	13
Intangible assets	16,997
Goodwill	22,579
Total assets acquired	41,695
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums payable to insurance companies	(318)
Producer commissions payable	(272)
Accrued expenses and other current liabilities	(30)
Total liabilities acquired	(620)
Net assets acquired	41,075
Totals
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Maximum potential contingent earnout consideration	18,962
LeaseTrack
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid	12,984
Fair value of contingent earnout consideration	6,116
Fair value of equity interest	1,652
Deferred payment	0
Total consideration	20,752
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash	100
Restricted cash	2
Premiums, commissions and fees receivable	729
Property and equipment	43
Other assets	0
Intangible assets	5,200
Goodwill	15,026
Total assets acquired	21,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums payable to insurance companies	(318)
Producer commissions payable	(4)
Accrued expenses and other current liabilities	(26)
Total liabilities acquired	(348)
Net assets acquired	20,752
Maximum potential contingent earnout consideration	8,500
All Others
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid	14,021
Fair value of contingent earnout consideration	1,648
Fair value of equity interest	2,062
Deferred payment	2,592
Total consideration	20,323
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash	155
Restricted cash	0
Premiums, commissions and fees receivable	1,077
Property and equipment	0
Other assets	13
Intangible assets	11,797
Goodwill	7,553
Total assets acquired	20,595
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums payable to insurance companies	0
Producer commissions payable	(268)
Accrued expenses and other current liabilities	(4)
Total liabilities acquired	(272)
Net assets acquired	20,323
Maximum potential contingent earnout consideration	$ 10,462

Business Combinations - Sched_2

Business Combinations - Schedule of Weighted-Average Lives of Intangible Assets Acquired in Business Combinations (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Amount	$ 16,997
Purchased customer accounts
Acquired Finite-Lived Intangible Assets [Line Items]
Amount	$ 9,669
Weighted Average Life	17 years 10 months 24 days
Distributor relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Amount	$ 4,858
Weighted Average Life	20 years
Software
Acquired Finite-Lived Intangible Assets [Line Items]
Amount	$ 2,095
Weighted Average Life	5 years
Trade Names
Acquired Finite-Lived Intangible Assets [Line Items]
Amount	$ 375
Weighted Average Life	4 years 7 months 6 days

Business Combinations - Sched_3

Business Combinations - Schedule of Future Amortization of Intangible Assets Acquired in Business Combinations (Details) $ in Thousands	Jun. 30, 2021USD ($)
Business Combinations [Abstract]
For the remainder of 2021	$ 568
2022	1,297
2023	1,265
2024	1,320
2025	$ 1,391

Business Combinations - Sched_4

Business Combinations - Schedule of Pro Forma Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Business Acquisition, Pro Forma Information [Abstract]
Revenues	$ 120,195	$ 52,880	$ 276,248	$ 110,724
Net income (loss)	(20,028)	(8,055)	12,081	(1,329)
Net income (loss) attributable to BRP Group, Inc.	$ (9,719)	$ (3,656)	$ 5,614	$ (1,518)
Basic earnings (loss) per share	$ (0.22)	$ (0.18)	$ 0.13	$ (0.08)
Diluted earnings (loss) per share	$ (0.22)	$ (0.18)	$ 0.12	$ (0.08)
Weighted-average shares of Class A common stock outstanding - basic	44,686	20,642	44,537	20,176
Weighted-average shares of Class A common stock outstanding - diluted	44,686	20,642	46,239	20,176

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details) - Variable Interest Entity, Primary Beneficiary - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Variable Interest Entity [Line Items]
Revenues	$ 250	$ 165	$ 463	$ 403
Expenses	$ 161	$ 150	$ 317	$ 339

Variable Interest Entities - Sc

Variable Interest Entities - Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current Assets
Cash and cash equivalents	$ 224,479	$ 108,462
Premiums, commissions and fees receivable, net	209,664	155,501
Total current assets	490,804	301,989
Property and equipment, net	11,558	11,019
Other assets	14,885	11,084
Total assets	1,736,300	1,529,914
Liabilities
Premiums payable to insurance companies	177,578	135,576
Producer commissions payable	32,367	24,260
Accrued expenses and other current liabilities	49,639	47,490
Total liabilities	943,953	759,946
Variable Interest Entity, Primary Beneficiary
Current Assets
Cash and cash equivalents	228	143
Premiums, commissions and fees receivable, net	225	130
Total current assets	453	273
Property and equipment, net	19	21
Other assets	5	5
Total assets	477	299
Liabilities
Premiums payable to insurance companies	36	5
Producer commissions payable	38	17
Accrued expenses and other current liabilities	12	10
Total liabilities	86	32
Variable Interest Entity, Primary Beneficiary | Laureate
Current Assets
Cash and cash equivalents	193	120
Premiums, commissions and fees receivable, net	0	3
Total current assets	193	123
Property and equipment, net	19	21
Other assets	5	5
Total assets	217	149
Liabilities
Premiums payable to insurance companies	4	4
Producer commissions payable	20	0
Accrued expenses and other current liabilities	12	10
Total liabilities	36	14
Variable Interest Entity, Primary Beneficiary | Smith
Current Assets
Cash and cash equivalents	9	5
Premiums, commissions and fees receivable, net	120	52
Total current assets	129	57
Property and equipment, net	0	0
Other assets	0	0
Total assets	129	57
Liabilities
Premiums payable to insurance companies	32	0
Producer commissions payable	0	4
Accrued expenses and other current liabilities	0	0
Total liabilities	32	4
Variable Interest Entity, Primary Beneficiary | Saunders
Current Assets
Cash and cash equivalents	26	18
Premiums, commissions and fees receivable, net	105	75
Total current assets	131	93
Property and equipment, net	0	0
Other assets	0	0
Total assets	131	93
Liabilities
Premiums payable to insurance companies	0	1
Producer commissions payable	18	13
Accrued expenses and other current liabilities	0	0
Total liabilities	$ 18	$ 14

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total commissions and fees	$ 119,706	$ 51,268	$ 272,534	$ 105,427
Direct Bill Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees	50,358	22,430	144,863	50,539
Agency Bill Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees	47,293	20,256	82,633	36,685
Profit Sharing Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees	8,175	2,626	18,467	7,750
Policy Fee and Installment Fee Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees	4,792	3,653	9,268	7,035
Consulting and Service Fee Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees	5,726	793	11,006	1,508
Other Income
Disaggregation of Revenue [Line Items]
Commissions and fees	$ 3,362	$ 1,510	$ 6,297	$ 1,910

Revenue - Additional Informatio

Revenue - Additional Information (Details)	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Capitalized contract cost, amortization period	5 years

Schedule of Contract Assets and

Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Contract assets	$ 129,999	$ 80,213
Contract liabilities	$ 17,778	$ 11,606

Contract Assets and Liabiliti_3

Contract Assets and Liabilities - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Revenue recognized related to contract liabilities	$ 10.5

Schedule of Deferred Commission

Schedule of Deferred Commission Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Schedule of Deferred Commission Expense [Roll Forward]
Balance at beginning of period	$ 5,164	$ 3,792	$ 4,751	$ 3,621
Costs capitalized	1,351	617	2,186	1,109
Amortization	(479)	(349)	(901)	(670)
Balance at end of period	$ 6,036	$ 4,060	$ 6,036	$ 4,060

Intangible Assets, Net and Go_3

Intangible Assets, Net and Goodwill - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 601,196	$ 587,018
Accumulated Amortization	(53,969)	(32,698)
Net Carrying Value	547,227	554,320
Purchased customer accounts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	508,613	501,512
Accumulated Amortization	(34,370)	(18,604)
Net Carrying Value	474,243	482,908
Measurement period adjustments related to certain business acquired	4,600
Distributor relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	37,238	32,380
Accumulated Amortization	(2,157)	(1,377)
Net Carrying Value	35,081	31,003
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	32,828	30,828
Accumulated Amortization	(14,182)	(10,801)
Net Carrying Value	18,646	20,027
Trade Names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	14,658	14,439
Accumulated Amortization	(2,145)	(932)
Net Carrying Value	12,513	13,507
Measurement period adjustments related to certain business acquired	156
Carrier relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	7,859	7,859
Accumulated Amortization	(1,115)	(984)
Net Carrying Value	$ 6,744	$ 6,875

Intangible Assets, Net and Go_4

Intangible Assets, Net and Goodwill - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization for intangible assets	$ 10,742	$ 4,450	$ 21,279	$ 8,046

Intangible Assets, Net and Go_5

Intangible Assets, Net and Goodwill - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2020	$ 651,502
Goodwill of acquired businesses	22,579
Measurement period adjustments	(2,255)
Balance at June 30, 2021	671,826
Business acquired, measurement period adjustment, decrease cash consideration	2,500
Property and equipment
Goodwill [Roll Forward]
Business acquired, measurement period adjustment, increase property and equipment, net	124
Accrued expenses and other current liabilities
Goodwill [Roll Forward]
Measurement period adjustment	93
Middle Market
Goodwill [Roll Forward]
Balance at December 31, 2020	526,858
Goodwill of acquired businesses	3,374
Measurement period adjustments	(2,255)
Balance at June 30, 2021	527,977
Specialty
Goodwill [Roll Forward]
Balance at December 31, 2020	65,319
Goodwill of acquired businesses	15,026
Measurement period adjustments	0
Balance at June 30, 2021	80,345
MainStreet
Goodwill [Roll Forward]
Balance at December 31, 2020	38,892
Goodwill of acquired businesses	0
Measurement period adjustments	0
Balance at June 30, 2021	38,892
Medicare
Goodwill [Roll Forward]
Balance at December 31, 2020	20,433
Goodwill of acquired businesses	4,179
Measurement period adjustments	0
Balance at June 30, 2021	$ 24,612

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Details)	Jun. 30, 2021USD ($)	Jun. 02, 2021USD ($)	Dec. 31, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	May 07, 2021	Mar. 31, 2021	Mar. 08, 2021USD ($)	Mar. 04, 2021USD ($)
Debt Instrument [Line Items]
Change in fair value of interest rate caps					$ 825,000	$ 0
Interest Rate Cap
Debt Instrument [Line Items]
Aggregate cap interest rate	4.75%			4.75%	4.75%
Interest rate caps	$ 2,600,000			$ 2,600,000	$ 2,600,000
Change in fair value of interest rate caps				825,000	825,000
Interest Rate Cap, Expiration March 2024
Debt Instrument [Line Items]
Notional amount									$ 300,000,000
Interest Rate Cap, Expiration March 2024 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Cap interest rate									1.50%
Interest Rate Cap, Expiration March 2022
Debt Instrument [Line Items]
Notional amount									$ 300,000,000
Interest Rate Cap, Expiration March 2022 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Cap interest rate									0.75%
Interest Rate Cap Member, Expiration March 2026
Debt Instrument [Line Items]
Notional amount										$ 300,000,000
Interest Rate Cap Member, Expiration March 2026 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Cap interest rate										2.50%
JPM Credit Agreement | JPMorgan Chase Bank, N.A.
Debt Instrument [Line Items]
Total first lien net leverage ratio, maximum								5
Debt service coverage ratio not longer required subsequent to period end								2.25
JPM Credit Agreement | JPMorgan Chase Bank, N.A. | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing amount			$ 800,000,000
JPM Credit Agreement | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Outstanding borrowings	$ 20,000,000			$ 20,000,000	$ 20,000,000
Interest rate	2.34%			2.34%	2.34%
JPM Credit Agreement | Revolving Credit Facility | JPMorgan Chase Bank, N.A. | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing amount	$ 400,000,000			$ 400,000,000	$ 400,000,000
Commitment fee percent	$ 0.0030
JPM Credit Agreement | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | JPMorgan Chase Bank, N.A. | Line of Credit | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate					3.00%
JPM Credit Agreement | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | JPMorgan Chase Bank, N.A. | Line of Credit | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate					2.00%
JPM Credit Agreement | Secured Debt | JPMorgan Chase Bank, N.A. | Medium-term Notes
Debt Instrument [Line Items]
Maximum borrowing amount			$ 400,000,000
Interest rate floor			4.75%
JPM Credit Agreement | Secured Debt | London Interbank Offered Rate (LIBOR) | JPMorgan Chase Bank, N.A. | Medium-term Notes
Debt Instrument [Line Items]
Basis spread on variable rate			4.00%
Credit Agreement May 2021 | JPMorgan Chase Bank, N.A.
Debt Instrument [Line Items]
Total first lien net leverage ratio, maximum							6
Credit Agreement June 2021 Amendment | Secured Debt | Loan Syndication | Medium-term Notes
Debt Instrument [Line Items]
Maximum borrowing amount		$ 500,000,000
Interest rate during period		4.00%
Credit Agreement June 2021 Amendment | Secured Debt | London Interbank Offered Rate (LIBOR) | Loan Syndication | Medium-term Notes
Debt Instrument [Line Items]
Basis spread on variable rate		3.50%
Basis spread on variable rate, floor		0.50%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Villages Broker Commissions
Related Party Transaction [Line Items]
Related party commissions revenue	$ 667	$ 452	$ 1,300	$ 721
Villages Leased Facilities
Related Party Transaction [Line Items]
Related party rent expense	130	151	261	284
Other Related Parties Leased Facilities
Related Party Transaction [Line Items]
Related party rent expense	$ 524	$ 516	$ 1,000	$ 764

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	May 03, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 4,500	$ 2,000	$ 8,100	$ 3,100
Unvested Restricted Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years
Fair value of awards that vested in period				$ 3,900
Aggregate value of nonvested awards	$ 1,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Aggregate value of nonvested awards	$ 3,100
BRP Group, Inc. Omnibus Incentive and Partnership Inducement Award Plans | Cliff Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				4 years
Minimum | BRP Group, Inc. Omnibus Incentive and Partnership Inducement Award Plans | Ratable Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Maximum | Executive Incentive Compensation Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate value of nonvested awards	$ 8,800
Maximum | BRP Group, Inc. Omnibus Incentive and Partnership Inducement Award Plans | 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 (in shares)		3,844,044		3,844,044
Common Class A | BRP Group, Inc. Partnership Inducement Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards authorized by Plan (in shares)		1,500,000		1,500,000

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Activity of Non-vested Awards under omnibus Plan (Details) - $ / shares	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Outstanding, Number of Shares	1,969,753	826,027
Outstanding, Weighted Average Grant Date Fair Value	$ 23.98	$ 15.92
Granted, Number of Shares	1,331,672
Granted, Weighted Average Grant Date Fair Value	$ 28.92
Vested and Settled, Number of Shares	(161,335)
Vested and Settled, Weighted Average Grant Date Fair Value	$ 24.19
Forfeited, Number of Shares	(26,611)
Forfeited, Weighted Average Grant Date Fair Value	$ 19.78

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
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)	1,864,337	398,024
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)	49,575,871	45,458,763

Earnings (Loss) Per Share Sched

Earnings (Loss) Per Share Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Basic earnings (loss) per share:
Net income (loss) attributable to BRP Group, Inc.	$ (9,756)	$ (3,588)	$ 4,857	$ (2,120)
Weighted-average shares of Class A common stock outstanding - basic	44,671,308	20,426,082	44,464,312	19,959,828
Basic earnings (loss) per share	$ (0.22)	$ (0.18)	$ 0.11	$ (0.11)
Earnings Per Share, Diluted [Abstract]
Net income (loss) attributable to BRP Group, Inc.	$ (9,756)	$ (3,588)	$ 4,857	$ (2,120)
Weighted-average shares of Class A common stock outstanding - basic	44,671,308	20,426,082	44,464,312	19,959,828
Dilutive effect of unvested restricted shares of Class A common stock	0	0	1,696,000	0
Weighted-average shares of Class A common stock outstanding - diluted	44,671,308	20,426,082	46,160,474	19,959,828
Diluted earnings (loss) per share	$ (0.22)	$ (0.18)	$ 0.11	$ (0.11)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value by Balance Sheet Grouping (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate caps	$ 2,600
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate caps	2,636	$ 0
Level 2 Assets	2,636	0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent earnout liabilities	178,252	164,819
Level 3 Liabilities	$ 178,252	$ 164,819

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Reported Value Measurement
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt	$ 500	$ 399
Estimate of Fair Value Measurement
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt	484.1	402
Change in fair value of contingent earnout liabilities	11.8
Maximum estimated exposure to contingent earnout liabilities	531
Unamortized debt discount and issuance costs	17	$ 13.6
Fair Value, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Interest rate caps	$ 2.6
Revenue or EBITDA Growth Rate | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent earnout liability input	0.10	0.07
Revenue or EBITDA Growth Rate | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent earnout liability input	0.24	0.20
Discount Rate | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent earnout liability input	0.0525	0.0500
Discount Rate | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent earnout liability input	0.1850	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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Contingently Returnable Consideration
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period		$ 258		$ 70
Change in fair value of contingent consideration		129		317
Balance at end of period		387		387
Contingent Earnout Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 165,283	53,855	$ 164,819	48,769
Fair value of contingent consideration issuances (2)	1,074	21,951	3,041	25,188
Change in fair value of contingent consideration	13,325	4,710	11,822	6,559
Payment of contingent consideration	(1,430)	(1,981)	(1,430)	(1,981)
Balance at end of period	$ 178,252	$ 78,535	178,252	$ 78,535
Measurement period adjustment			(4,700)
Issuances from business combinations			$ 7,800

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021segment
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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Commissions and fees	$ 119,706	$ 51,268	$ 272,534	$ 105,427
Net income (loss)	(20,104)	(7,859)	10,510	(3,152)
Total assets	1,736,300		1,736,300		$ 1,529,914
Middle Market
Segment Reporting Information [Line Items]
Commissions and fees	76,109	20,718	186,664	42,750
Net income (loss)	(5,699)	2,425	35,755	10,614
Total assets	1,266,614		1,266,614		1,194,185
Middle Market | Intersegment Eliminations
Segment Reporting Information [Line Items]
Commissions and fees	(109)		(468)
Specialty
Segment Reporting Information [Line Items]
Commissions and fees	30,105	19,456	55,187	36,872
Net income (loss)	1,640	(3,223)	3,473	(4,912)
Total assets	214,940		214,940		188,360
MainStreet
Segment Reporting Information [Line Items]
Commissions and fees	8,576	7,704	16,798	16,012
Net income (loss)	978	956	2,272	2,200
Total assets	57,730		57,730		58,957
MainStreet | Intersegment Eliminations
Segment Reporting Information [Line Items]
Commissions and fees	(61)		(91)
Medicare
Segment Reporting Information [Line Items]
Commissions and fees	5,152	3,390	14,604	9,793
Net income (loss)	468	(167)	2,750	2,447
Total assets	54,958		54,958		43,675
Medicare | Intersegment Eliminations
Segment Reporting Information [Line Items]
Commissions and fees	(66)		(160)
Corporate and Other
Segment Reporting Information [Line Items]
Commissions and fees	(236)	0	(719)	0
Net income (loss)	(17,491)	$ (7,850)	(33,740)	$ (13,501)
Total assets	$ 142,058		$ 142,058		$ 44,737

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Aug. 02, 2021	Jul. 01, 2021	Aug. 06, 2021	Jun. 30, 2021	Dec. 31, 2020
JPM Credit Agreement | JPMorgan Chase Bank, N.A. | Line of Credit
Subsequent Event [Line Items]
Maximum borrowing amount					$ 800,000,000
Revolving Credit Facility | JPM Credit Agreement | JPMorgan Chase Bank, N.A. | Line of Credit
Subsequent Event [Line Items]
Maximum borrowing amount				$ 400,000,000
Subsequent Event | RogersGray
Subsequent Event [Line Items]
Cash consideration transferred		$ 138,100,000
Subsequent Event | RogersGray | LLC Units
Subsequent Event [Line Items]
Number of shares issued		1,950,232
Subsequent Event | RogersGray | Common Class B
Subsequent Event [Line Items]
Number of shares issued		1,950,232
Subsequent Event | FounderShield
Subsequent Event [Line Items]
Cash consideration transferred	$ 26,700,000
Subsequent Event | FounderShield | Common Class A
Subsequent Event [Line Items]
Number of shares issued	304,628
Subsequent Event | FounderShield | LLC Units
Subsequent Event [Line Items]
Number of shares issued	364,174
Subsequent Event | FounderShield | Common Class B
Subsequent Event [Line Items]
Number of shares issued	364,174
Subsequent Event | TCG
Subsequent Event [Line Items]
Cash consideration transferred	$ 40,400,000
Subsequent Event | TCG | LLC Units
Subsequent Event [Line Items]
Number of shares issued	653,324
Subsequent Event | TCG | Common Class B
Subsequent Event [Line Items]
Number of shares issued	653,324
Subsequent Event | Revolving Credit Facility | JPM Credit Agreement | JPMorgan Chase Bank, N.A. | Line of Credit
Subsequent Event [Line Items]
Maximum borrowing amount			$ 475,000,000