Builder Reciprocal Insurance Exchange (“BRIE”)

Builder Reciprocal Insurance Exchange (“BRIE”) is a newly formed Texas-based reciprocal exchange, sponsored by The Baldwin Insurance Group (NASDAQ: BWIN), that writes builder-sourced (new construction) homeowners insurance across the U.S. In May 2025, Gallatin Point invested $95 million in BRIE and the related management company to provide the majority of the initial capitalization for the exchange.