0001781755-22-000008 | 10-K | XBRL Viewer

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Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 138,292	$ 108,462
Restricted cash	89,445	33,560
Premiums, commissions and fees receivable, net	340,837	155,501
Prepaid expenses and other current assets	8,151	4,447
Due from related parties	1,668	19
Total current assets	578,393	301,989
Property and equipment, net	17,474	11,019
Right-of-use assets	81,646	0
Other assets	25,586	11,084
Intangible assets, net	944,467	554,320
Goodwill	1,228,741	651,502
Total assets	2,876,307	1,529,914
Current liabilities:
Premiums payable to insurance companies	310,045	135,576
Producer commissions payable	41,833	24,260
Accrued expenses and other current liabilities	92,223	51,490
Related party notes payable	61,500	0
Current portion of contingent earnout liabilities	35,088	6,094
Total current liabilities	540,689	217,420
Revolving line of credit	35,000	0
Long-term debt, less current portion	814,614	381,382
Contingent earnout liabilities, less current portion	223,501	158,725
Operating lease liabilities, less current portion	71,357	0
Other liabilities	3,590	2,419
Total liabilities	1,688,751	759,946
Commitments and contingencies (Note 21)
Mezzanine equity:
Redeemable noncontrolling interest	269	98
Stockholders’ equity:
Additional paid-in capital	663,002	392,139
Accumulated deficit	(54,992)	(24,346)
Stockholder notes receivable	(219)	(465)
Total stockholders’ equity attributable to BRP Group, Inc.	608,383	367,783
Noncontrolling interest	578,904	402,087
Total stockholders’ equity	1,187,287	769,870
Total liabilities, mezzanine equity and stockholders’ equity	2,876,307	1,529,914
Class A Common Stock
Stockholders’ equity:
Common stock	586	450
Class B Common Stock
Stockholders’ equity:
Common stock	6	5
Variable Interest Entity, Primary Beneficiary [Member]
Current assets:
Cash and cash equivalents	303	143
Premiums, commissions and fees receivable, net	272	130
Total current assets	575	273
Property and equipment, net	15	21
Other assets	5	5
Total assets	595	299
Current liabilities:
Premiums payable to insurance companies	0	5
Producer commissions payable	41	17
Accrued expenses and other current liabilities	4	10
Total liabilities	$ 45	$ 32

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Class A Common Stock
Par value (in dollars per share)	$ 0.01	$ 0.01
Shares authorized (in shares)	300,000,000	300,000,000
Shares outstanding (in shares)	58,602,859	44,953,166
Shares issued (in shares)	58,602,859	44,953,166
Class B Common Stock
Par value (in dollars per share)	$ 0.0001	$ 0.0001
Shares authorized (in shares)	100,000,000	100,000,000
Shares outstanding (in shares)	56,338,051	49,828,383
Shares issued (in shares)	56,338,051	49,828,383

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Commissions and fees	$ 567,290	$ 240,919	$ 137,841
Operating Expenses
Commissions, employee compensation and benefits	400,050	174,114	96,955
Other operating expenses	102,162	48,060	24,576
Amortization expense	48,720	19,038	10,007
Change in fair value of contingent consideration	45,196	20,516	10,829
Depreciation expense	2,788	1,129	542
Total operating expenses	598,916	262,857	142,909
Operating loss	(31,626)	(21,938)	(5,068)
Other Income (Expense)
Interest expense, net	(26,899)	(7,857)	(10,640)
Loss on extinguishment of debt	0	0	(6,732)
Other income (expense), net	424	(95)	3
Total other expense	(26,475)	(7,952)	(17,369)
Loss before income taxes	(58,101)	(29,890)	(22,437)
Income tax expense (benefit)	19	(5)	17
Net loss	(58,120)	(29,885)	(22,454)
Less: net loss attributable to noncontrolling interests	(27,474)	(14,189)	(13,804)
Net loss attributable to BRP Group, Inc.	(30,646)	(15,696)	(8,650)
Comprehensive loss	(58,120)	(29,885)	(22,454)
Comprehensive loss attributable to noncontrolling interests	(27,474)	(14,189)	(13,804)
Net loss attributable to BRP Group, Inc.	$ (30,646)	$ (15,696)	$ (8,650)
Basic and diluted net loss per share	$ (0.64)	$ (0.58)
Basic and diluted weighted-average shares of Class A common stock outstanding	47,587,866	27,175,705

Consolidated Statements of Stockholders'/Members' Equity (Deficit) and Mezzanine Equity - USD ($) $ in Thousands	Total	Additional Paid-in Capital	Accumu-lated Deficit	Members’ Deficit	Stockholder/Member Notes Receivable	Non-controlling Interest	Redeemable Noncontrolling Interest	Redeemable Members’ Capital	Class A Common Stock	Class A Common Stock Common Stock	Class B Common Stock	Class B Common Stock Common Stock
Balance at beginning of period, stockholders' / members' equity at Dec. 31, 2018	$ (62,759)			$ (63,606)	$ (90)	$ 937
Balance at beginning of period, mezzanine equity at Dec. 31, 2018							$ 46,208	$ 39,354
Increase (Decrease) in Stockholders'/Members' Equity (Deficit) [Roll Forward]
Issuance of Voting Common Units to redeemable common equity holder	5,509
Change in the redemption value of redeemable interests	(143,413)
Balance of end of period (in shares) at Dec. 31, 2019									19,362,984	19,362,984	43,257,738	43,257,738
Balance of end of period, stockholders' / members' equity at Dec. 31, 2019	237,251	$ 82,425	$ (8,650)	0	(688)	163,966				$ 194		$ 4
Balance at end of period, mezzanine equity at Dec. 31, 2019							23	0
Balance at beginning of period (in shares) at Oct. 28, 2019									0		0
Increase (Decrease) in Stockholders'/Members' Equity (Deficit) [Roll Forward]
Net income (loss)	(27,990)		(8,650)			(19,340)	(10)
Contributions							5
Share-based compensation (in shares)										276,634		69,503
Share-based compensation	794	202				589				$ 3
Repayment of stockholder notes receivable	4				4
Balance of end of period (in shares) at Dec. 31, 2019									19,362,984	19,362,984	43,257,738	43,257,738
Balance of end of period, stockholders' / members' equity at Dec. 31, 2019	237,251	82,425	(8,650)	$ 0	(688)	163,966				$ 194		$ 4
Balance at end of period, mezzanine equity at Dec. 31, 2019							23	$ 0
Increase (Decrease) in Stockholders'/Members' Equity (Deficit) [Roll Forward]
Net income (loss)	(29,941)		(15,696)			(14,245)	56
Issuances of Class A common stock, net of underwriting discounts and offering costs and redemption of Class B common stock for Class A common stock	372,724	197,357				175,134				$ 233
Issuances of Class A common stock, net of underwriting discounts and offering costs and redemption of Class B common stock for Class A common stock (in shares)										23,287,500		(4,091,667)
Equity issued in business combinations (in shares)										1,415,837		11,004,696
Contributions							19
Issuance of Voting Common Units to redeemable common equity holder	0
Redemptions and repurchases of common stock (in shares)										253,599		(342,384)
Redemptions and repurchases of common stock	(1,291)	638				(1,931)				$ 2
Equity issued in business combinations	186,120	107,867				78,238				$ 14		$ 1
Change in the redemption value of redeemable interests	0
Issuance of Class A common stock in Offering, net of underwriting discounts and offering costs (in shares)									23,287,500		0
Share-based compensation (in shares)										633,246
Share-based compensation	4,784	3,852				925				$ 7
Repayment of stockholder notes receivable	223				223
Balance of end of period (in shares) at Dec. 31, 2020									44,953,166	44,953,166	49,828,383	49,828,383
Balance of end of period, stockholders' / members' equity at Dec. 31, 2020	769,870	392,139	(24,346)		(465)	402,087				$ 450		$ 5
Balance at end of period, mezzanine equity at Dec. 31, 2020							98
Increase (Decrease) in Stockholders'/Members' Equity (Deficit) [Roll Forward]
Net income (loss)	(58,291)		(30,646)			(27,645)	171
Issuances of Class A common stock, net of underwriting discounts and offering costs and redemption of Class B common stock for Class A common stock (in shares)												0
Equity issued in business combinations (in shares)										1,053,190		7,441,139
Issuance of Voting Common Units to redeemable common equity holder	0
Redemptions and repurchases of common stock	0	8,535				(8,544)				$ 9
Equity issued in business combinations	194,607	91,678				102,918				$ 10		$ 1
Change in the redemption value of redeemable interests	0
Stock Repurchased During Period, Shares										(931,471)		(931,471)
Issuance of Class A common stock in Offering, net of underwriting discounts and offering costs (in shares)									9,200,000	9,200,000
Issuance of Class A common stock in Offering, net of underwriting discounts and offering costs	268,321	159,101				109,128				$ 92
Share-based compensation (in shares)										2,465,032
Share-based compensation	17,606	16,621				960				$ 25
Tax distributions to BRP LLC members	(5,072)	(5,072)
Repayment of stockholder notes receivable	246	0			246	0
Balance of end of period (in shares) at Dec. 31, 2021									58,602,859	58,602,859	56,338,051	56,338,051
Balance of end of period, stockholders' / members' equity at Dec. 31, 2021	$ 1,187,287	$ 663,002	$ (54,992)		$ (219)	$ 578,904				$ 586		$ 6
Balance at end of period, mezzanine equity at Dec. 31, 2021							$ 269

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income (loss)	$ (58,120)	$ (29,885)	$ (22,454)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	51,508	20,167	10,549
Amortization of deferred financing costs	3,506	1,002	1,312
Loss on extinguishment of debt	0	0	6,732
Gain (Loss) on Disposition of Property Plant Equipment	311	67	0
Issuance of management incentive units	0	0	1,334
Participation unit compensation	0	0	50
Share-based compensation expense	19,193	7,744	3,227
Change in fair value of contingent consideration	45,196	20,516	10,829
Change in fair value of interest rate caps	123	0	0
Payment of contingent earnout consideration in excess of purchase price accrual	(4,825)	(1,727)	(8)
Changes in operating assets and liabilities, net of effect of acquisitions:
Premiums, commissions and fees receivable, net	(64,501)	(6,828)	(6,000)
Prepaid expenses and other assets	(8,032)	(1,611)	(2,631)
Due to/from related parties	(1,649)	24	74
Right-of-use assets	(81,646)	0	0
Accounts payable, accrued expenses and other current liabilities	55,188	27,348	9,000
Operating lease liabilities	83,877	0	0
Net cash provided by operating activities	40,129	36,817	12,014
Cash flows from investing activities:
Cash consideration paid for business combinations, net of cash received	(668,033)	(669,236)	(98,423)
Capital expenditures	(5,321)	(5,469)	(1,718)
Investment in business venture	(1,907)	(1,250)	(200)
Cash consideration paid for asset acquisitions, net of cash received	(3,212)	(1,854)	(679)
Net cash used in investing activities	(678,473)	(677,809)	(101,020)
Cash flows from financing activities:
Proceeds from issuance of Class A common stock, net of underwriting discounts	269,375	451,574	246,208
Purchase of LLC Units from shareholders	0	(78,274)	(31,332)
Payment of offering costs	(1,054)	(1,868)	(4,840)
Payment of contingent and guaranteed earnout consideration	(7,723)	(1,192)	(980)
Proceeds from revolving line of credit	420,210	385,637	69,592
Repayments of revolving line of credit	(385,210)	(325,000)	(66,200)
Proceeds from long-term debt	441,430	286,331	0
Repayments of long-term debt	(5,630)	(1,000)	(204)
Payments of debt issuance and debt extinguishment costs	(1,124)	(4,507)	(481)
Proceeds received from repayment of stockholder/member notes receivable	246	223	164
Purchase of interest rate caps	(6,461)	0	0
Proceeds from related party debt	0	0	49,845
Repayments of related party debt	0	0	(88,425)
Payments for repurchase of common units	0	0	(12,500)
Distributions	0	0	(10,549)
Other financing activity	0	19	1,784
Net cash provided by financing activities	724,059	711,943	152,082
Net increase in cash and cash equivalents and restricted cash	85,715	70,951	63,076
Cash and cash equivalents and restricted cash at beginning of year	142,022	71,071	7,995
Cash and cash equivalents and restricted cash at end of year	227,737	142,022	71,071
Supplemental schedule of cash flow information:
Cash paid during the year for interest	22,110	5,958	9,487
Disclosure of non-cash investing and financing activities:
Equity interest issued in business combinations and asset acquisitions	194,607	186,116	38,637
Contingent earnout liabilities assumed in business combinations and asset acquisitions	127,420	98,523	29,117
Right-of-use assets obtained in exchange for operating lease liabilities	86,524	0	0
Conversion of contingent earnout liability to related party notes payable	61,500	0	0
Noncash debt issuance costs recorded	11,557	12,554	2,809
Right-of-use assets increased through lease modifications and reassessments	6,131	0	0
Noncash tax distributions payable	5,072	0	0
Principal and interest on revolving line of credit paid through funding of long-term debt	0	101,115	0
Capital expenditures incurred but not yet paid	350	301	0
Change in the redemption value of redeemable interests	0	0	143,413
Capitalization of issuance to redeemable common member	0	0	5,509
Exchange of advisor incentive plan liability to equity	0	0	2,153
Transfer of long-term debt to revolving line of credit	0	0	1,820
Contingently returnable consideration recorded in business combinations	0	0	321
Exchange of participation unit ownership plan liability to equity	$ 0	$ 0	$ 311

Business and Basis of Presentation (Notes)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Business and Basis of Presentation

BRP Group, Inc. (“BRP Group” or the “Company”) was incorporated in the state of Delaware on July 1, 2019. BRP Group was formed for the purpose of completing an initial public offering of its common stock and related transactions in order to carry on the business of Baldwin Risk Partners, LLC (“BRP”) as a publicly-traded entity. On October 28, 2019, BRP Group completed an initial public offering of its Class A common stock and became the sole managing member of BRP. The financial statements of BRP Group have been presented as a combination of the financial results of BRP Group and BRP as of the earliest period presented as discussed further under Principles of Consolidation section below.

BRP Group is a diversified insurance agency and services organization that markets and sells insurance products and services to its customers throughout the U.S., although a significant portion of the Company’s business is concentrated in the Southeastern U.S., with several other regional concentrations. BRP Group and its subsidiaries operate through four reportable segments (“Operating Groups”), including Middle Market, Specialty, MainStreet, and Medicare, which are discussed in more detail in Note 22.

Public Equity Offerings

On October 28, 2019, BRP Group completed an initial public offering (the “Initial Public Offering”) of its Class A common stock, in which it sold 18,859,300 shares, including 2,459,300 shares pursuant to the underwriters’ over-allotment option that subsequently settled on November 26, 2019. The shares began trading on the Nasdaq Global Select Market (the “Nasdaq”) on October 24, 2019. The shares were sold at an initial offering price of $14.00 per share for net proceeds of $241.4 million after deducting underwriting discounts and commissions of $17.8 million and net offering expenses of $4.8 million.

In connection with the Initial Public Offering, BRP Group and BRP entered into a series of transactions to implement an internal reorganization (the “Reorganization Transactions”), which are described in detail in Note 3.

On June 29, 2020, the Company completed a public offering of 13,225,000 shares of its Class A common stock, including 1,725,000 shares sold pursuant to the underwriters’ over-allotment option. The shares were sold at an offering price of $13.25 per share for net proceeds of $166.5 million after deducting underwriting discounts and commissions of $7.9 million and offering expenses of $0.8 million.

On December 11, 2020, the Company completed a public offering of 10,062,500 shares of its Class A common stock, including 1,312,500 shares sold pursuant to the underwriters’ over-allotment option. The shares were sold at an offering price of $29.50 per share for net proceeds of $283.2 million after deducting underwriting discounts and commissions of $12.6 million and offering expenses of $1.1 million.

On September 17, 2021, the Company completed a public offering of 9,200,000 shares of its Class A common stock, including 1,200,000 shares sold pursuant to the underwriters’ over-allotment option. The shares were sold at an offering price of $30.50 per share for net proceeds of approximately $269.4 million after deducting underwriting discounts and commissions of $11.2 million. The Company used such proceeds to purchase 9,200,000 LLC Units. The Company also paid offering expenses of $1.1 million.

Principles of Consolidation

The consolidated financial statements include the accounts of BRP Group and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

As the sole manager of BRP, BRP Group operates and controls all the business and affairs of BRP, and has the sole voting interest in, and controls the management of, BRP. Accordingly, BRP Group began consolidating BRP in its consolidated financial statements as of the closing date of the Initial Public Offering, resulting in a noncontrolling interest related to the membership interests of BRP (the "LLC Units") held by BRP’s LLC members in its consolidated financial statements.

BRP and BRP Group have been under the common control of our Chairman, Lowry Baldwin, before and after the Reorganization Transactions. Prior to the Reorganization Transactions, Mr. Baldwin held a controlling interest in Baldwin Investment Group Holdings, LLC (“BIGH”), which was the controlling owner of BRP through its majority ownership of BRP’s common units. In addition, Mr. Baldwin was the sole shareholder of BRP Group. Upon reorganization, BRP Group became the sole managing member of BRP. Holders of the Class B common stock held a majority of the voting power of BRP Group and stockholders of a majority of the Class B common stock, including BIGH, executed a Voting Agreement in which they agreed to vote in the same manner as Mr. Baldwin. As a result, Mr. Baldwin continued to control BRP Group subsequent to the Initial Public Offering and Reorganization Transactions. Accordingly, we accounted for the Reorganization Transactions as a transaction between entities under common control in accordance with Accounting Standards Codification (“ASC”) Topic 805-50, Business Combinations - Related Issues, under which the financial information of BRP Group has been combined with that of BRP as of the earliest period presented.

The Company has prepared these consolidated financial statements in accordance with ASC Topic 810, Consolidation (“Topic 810”). Topic 810 requires that if an enterprise is the primary beneficiary of a variable interest entity, the assets, liabilities, and results of operations of the variable interest entity should be included in the consolidated financial statements of the enterprise. The Company has recognized certain entities as variable interest entities of which the Company is the primary beneficiary and has included the accounts of these entities in the consolidated financial statements. Refer to Note 5 for additional information regarding the Company’s variable interest entities.

Topic 810 also requires that the equity of a noncontrolling interest shall be reported in the consolidated balance sheets within total equity of the Company. Certain redeemable noncontrolling interests are reported in the 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. Refer to the Redeemable Noncontrolling Interest and Noncontrolling Interest sections of Note 2 for additional information.

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“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, purchase price allocation and valuation of intangible assets and contingent consideration; impairment of long-lived assets including goodwill; valuation of the Tax Receivable Agreement liability and income taxes; and share-based compensation.

Subsequent Events

The Company evaluated events or transactions that may have occurred after the balance sheet date for potential recognition or disclosure through the date the financial statements were issued. No subsequent events or transactions requiring recognition or disclosure were identified.

Recently Issued Accounting Pronouncements

In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805)—Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”) to improve the accounting for acquired revenue contracts with customers in business combination by addressing diversity in practice and inconsistency related to (i) the recognition of an acquired contract liability and (ii) payment terms and their effect on subsequent revenue recognized by the acquirer. ASU 2021-08 requires that, at acquisition date, an entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC Topic 606, Revenue from Contracts with Customers (“Topic 606”) as if it had originated the contracts, while also taking into account how the acquiree applied Topic 606. 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.

Emerging Growth Company Status

Prior to December 31, 2021, the Company was an emerging growth company under the Jumpstart Our Business Startups (“JOBS”) Act and had elected to delay the adoption of new and revised accounting pronouncements applicable to public companies until such pronouncements were made applicable to private companies. As a result, the Company did not have to comply with the public company's effective dates for Topics 326 and Topic 842 (defined below).

At December 31, 2021, the Company lost its emerging growth company status in conjunction with qualifying as a large accelerated filer. Concurrent with its change in status, the Company adopted all required accounting pronouncements applicable to public companies, including Topic 326 and Topic 842, which were adopted effective January 1, 2021. As a result of the adoption of Topic 842, the Company adjusted its previously reported consolidated financial statements for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021. The Company was not required to file amendments to previously filed Quarterly Reports on Forms 10-Q; although, 2021 amounts will be restated in its 2022 Quarterly Reports. The effects of the adoption of Topic 842 on the Company's balance sheet at December 31, 2020 and its quarterly operating results for the year ended December 31, 2021 are included below.

Adoption of the Credit Losses Standard Under Topic 326

In June 2016, the Financial Accounting Standards Board (“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. This guidance is effective for the Company on December 31, 2021 in conjunction with its loss of emerging growth company status as discussed above. The Company adopted ASU 2016-13 using the modified retrospective approach as of January 1, 2021. The cumulative effect of the adoption was not significant to the Company's consolidated financial statements.

Adoption of the Lease Accounting Standard Under Topic 842

In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, Leases (“Topic 842”). The guidance in Topic 842, which supersedes the lease recognition requirements in ASC Topic 840, Leases (“Topic 840”), requires an entity to recognize right-of-use (“ROU”) assets and lease liabilities arising from a lease for both financing and operating leases, along with additional qualitative and quantitative disclosures.

A lease is an agreement between two or more parties that creates enforceable rights and obligations that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Topic 842 requires an entity to determine whether a contract is a lease or contains a lease at the inception of the contract, considering all relevant facts and circumstances. There are two main components in determining if a contract is a lease: (i) a right to use an identified asset and (ii) control over the use of the identified asset. A customer does not have the right to use an identified asset if, at inception of the contract, a supplier has the substantive right to substitute the asset throughout the period of use. Control over the use of the identified asset requires a customer to obtain “substantially all the economic benefits” and to have the “ability to direct the use of the asset.”

Topic 842 requires the recognition of lease right-of-use assets and lease liabilities on the balance sheet, which are established at the inception of a lease by computing a net present value of the future lease payments. Right-of-use assets are amortized to operating lease expense over the lease term as calculated by the difference between the straight-line lease expense and the interest calculated on the lease liability. Rent payments are applied against the lease liabilities and the discount related to lease liabilities is accreted to operating lease expense over the lease term.

As discussed above, the Company adopted Topic 842 in connection with the loss of emerging growth company status. Topic 842 was adopted effective January 1, 2021 (the “adoption date”) on a modified retrospective basis, under which it applied the new guidance to leases existing at, or entered into after, the adoption date. Reporting for the comparative prior year periods presented in 2021, including comparative disclosure requirements, continues to be in accordance with the previous lease guidance under Topic 840. Upon adoption of Topic 842, we recorded right-of-use assets of $55.6 million and lease liabilities of $56.4 million and expensed net deferred rent liabilities of $1.7 million related to our operating leases. The effects of applying Topic 842 related to the adjustments to our operating leases are described in Note 13.

The transition guidance associated with Topic 842 also permitted the use of certain practical expedients. First, the Company elected the package of three practical expedients for transition, allowing the carryforward of certain aspects of its historical lease accounting under Topic 840 for leases that commenced before the effective date, including not to reassess (a) whether any expired or existing contracts are or contain leases, (ii) lease classification for any expired or existing leases, and (iii) initial direct costs for any existing leases. Second, the Company elected the optional transition method practical expedient to apply the new guidance at its effective date, without having to adjust the prior two years comparative financial statements. Third, the Company elected the practical expedient to not separate non-lease and lease components and instead account for them as a single lease component for all classes of underlying assets. The Company does not include variable payments that are not based on an index or rate in the single lease component, regardless of whether they are related to the lease or non-lease component. Fourth, the Company made the short term lease exemption accounting policy election to not recognize a lease liability or ROU asset on its balance sheet to leases with an initial term of 12 months or less. Instead, these lease payments are expensed on a straight-line basis over the lease term.

The lease ROU assets and related lease liabilities are classified as either operating or finance. Lease liabilities are measured at the lease commencement date as the present value of future minimum lease payments. Lease ROU assets are measured as the lease liability plus prepaid lease payments less deferred rent. In measuring the present value of the future minimum lease payments, the discount rate for the lease is the rate implicit in the lease, when readily determinable, or the lessee's incremental borrowing rate, when the implicit rate is not determinable. In computing its lease liabilities, the Company uses an incremental borrowing rate based on the information available on the commencement date using a company-specific rate. The lease term is the non-cancelable period of the lease and includes options to extend or terminate the lease when it is reasonably certain that an option will be exercised.

The cumulative effect of applying Topic 842 on our consolidated balance sheets as of January 1, 2021 was as follows:


(in thousands)	Balances as of December 31, 2020 as Previously Reported		Effect of Adoption of Topic 842		Balances as of January 1, 2021
Assets:
Prepaid expenses and other current assets	$	4,447	$	(169)	$	4,278
Right-of-use assets	—		55,643		55,643
Total assets	1,529,914		55,474		1,585,388
Liabilities:
Accrued expenses and other current liabilities (1)	$	51,490	$	5,783	$	57,273
Operating lease liabilities, non-current	—		48,699		48,699
Total liabilities	759,946		54,482		814,428

__________

(1) Effect of adoption of Topic 842 for accrued expenses and other current assets includes adjustments of $(1.9) million to deferred rent liabilities and $7.7 million to current portion of operating lease liabilities.

The following tables summarize the Company’s unaudited consolidated financial data on a quarterly basis for years ended December 31, 2021.


	For the 2021 Quarters Ended
(in thousands)	March 31 (1)		June 30 (1)		September 30 (1)		December 31
Commissions and fees	$	152,828	$	119,706	$	135,556	$	159,200
Total operating expenses	115,878		133,242		152,739		197,057
Operating income (loss)	36,950		(13,536)		(17,183)		(37,857)
Total other expenses	(5,643)		(6,905)		(7,418)		(6,509)
Income (loss) before income taxes	31,307		(20,441)		(24,601)		(44,366)
Income tax expense	—		—		—		19
Net income (loss)	31,307		(20,441)		(24,601)		(44,385)
Net income (loss) attributable to noncontrolling interests	16,001		(10,348)		(11,389)		(21,738)
Net income (loss) attributable to BRP Group, Inc.	$	15,306	$	(10,093)	$	(13,212)	$	(22,647)
Basic earnings (loss) per share	$	0.35	$	(0.23)	$	(0.28)	$	(0.41)
Diluted earnings (loss) per share	0.33		(0.23)		(0.28)		(0.41)

__________

(1) As a result of our adoption of Topic 842 as of January 1, 2021, quarterly amounts presented in our prior Quarterly Reports on Form 10-Q were revised. Total operating expenses, income (loss) before taxes and net income (loss) were each adjusted by $(0.7) million, $0.3 million and $0.4 million for the first, second and third quarters of 2021, respectively. Basic earnings (loss) per share was adjusted by $0.02 and $(0.01) for each of the first and second quarters of 2021, respectively. Diluted earnings (loss) per share was adjusted by $0.01 and $(0.01) for each of the first and second quarters of 2021, respectively.

Significant Accounting Policies (Notes)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Significant Accounting Policies

Revenue Recognition

The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“Topic 606”).

The Company earns commission revenue by facilitating the arrangement between Insurance Company Partners and individuals or businesses by providing insurance placement services to insureds (“Clients”) with Insurance Company Partners. Commission revenues are usually a percentage of the premium paid by Clients and generally depend upon the type of insurance, the Insurance Company Partner and the nature of the services provided. In some limited cases, the Company shares commissions with other agents or brokers who have acted jointly with the Company in a transaction. The Company controls the fulfillment of the performance obligation and its relationship with its Insurance Company Partners and the outside agents. Commissions shared with downstream agents or brokers are recorded in commission, employee compensation and benefits expense in the consolidated statements of comprehensive loss. Commissions are earned at a point in time upon the effective date of bound insurance coverage as no performance obligation exists after coverage is bound.

Commission revenue is recorded net of allowances for estimated policy cancellations, which are determined based on an evaluation of historical and current cancellation data.

The Company earns service fee revenue in its Middle Market segment by receiving negotiated fees in lieu of a commission and consulting revenue from services other than securing insurance coverage. Service fee and consulting revenues from certain agreements are recognized over time depending on when the services within the contract are satisfied and when the Company has transferred control of the related services to the customer.

Commissions and fees for brokerage services may be invoiced near the effective date of the underlying policy or over the term of the arrangement in installments during the policy period. However, regardless of the payment terms, commissions are recognized at a point in time upon the effective date of bound insurance coverage, as no performance obligation exists after coverage is bound.

The Company may receive a profit-sharing commission from an Insurance Company Partner, which is based primarily on underwriting results, but may also contain considerations for volume, growth, loss performance, or retention. Profit-sharing commissions represent a form of variable consideration, which includes additional commissions over base commissions received from Insurance Company Partners. Profit-sharing commissions associated with relatively predictable measures are estimated with a constraint applied and recognized at a point in time. The profit-sharing commissions are recorded as the underlying policies that contribute to the achievement of the metric are placed with any adjustments recognized when payments are received or as additional information that affects the estimate becomes available. Profit-sharing commissions associated with loss performance are uncertain, and therefore, are subject to significant reversal through catastrophic loss season and as loss data remains subject to material change. The constraint is relieved when management estimates revenue that is not subject to significant reversal, which often coincides with the earlier of written notice from the Insurance Company Partner that the target has been achieved, or cash collection. Year-end amounts incorporate estimates based on confirmation from Insurance Company Partners after calculation of potential loss ratios that are impacted by catastrophic losses. The consolidated financial statements include estimates based on constraints and incorporates information received from Insurance Company Partners, and where still subject to significant changes in estimates due to loss ratios and external factors that are outside of the Company’s control, a full constraint is applied.

The Company pays an incremental amount of compensation in the form of producer commissions on new business. These incremental costs are capitalized as deferred commission expense and amortized 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. The Company has concluded that this period is consistent with the transfer to the customer of the services to which the asset relates.

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.

The Company earns policy fee revenue for acting in its capacity as a managing general agent (“MGA”) on behalf of the Insurance Company Partner and fulfilling certain services including delivery of policy documents, processing payments and other administrative functions during the term of the insurance policy. Policy fee revenue is deferred and recognized over the life of the policy. These deferred amounts are recognized as contract liabilities, which is included as a component of accrued expenses and other current liabilities on the consolidated balance sheets. The Company earns installment fee revenue related to policy premiums paid on an installment basis for payment processing services performed on behalf of the Insurance Company Partner. The Company recognizes installment fee revenue in the period the services are performed.

Cash Equivalents

The Company considers all highly liquid short-term instruments with original maturities of three months or less to be cash equivalents.

Restricted Cash

Restricted cash includes amounts that are legally restricted as to use or withdrawal. Restricted cash represents cash collected from customers that is payable to Insurance Company Partners and for which segregation of this cash is required by contract with the relevant insurance company providing coverage or by law within the state. The Company also holds restricted cash specifically in its role as an MGA.

Premiums, Commissions and Fees Receivable, Net

In its capacity as an insurance agent or broker, the Company typically collects premiums from Clients, and after deducting its authorized commissions, remits the net premiums to the appropriate Insurance Company Partners. Accordingly, premiums receivable reflect these amounts due from Clients.

In other circumstances, the Insurance Company Partners collect the premiums directly from Clients and remit the applicable commissions to the Company. Accordingly, commissions receivable reflect these amounts due from Insurance Company Partners. Fees receivable primarily represent amounts due from Clients of the Company’s services division.

Premiums, commissions and fees receivable are reported net of allowances for estimated policy cancellations and doubtful accounts. The allowance for estimated policy cancellations was $5.2 million and $3.2 million at December 31, 2021 and 2020, respectively, which represents a reserve for future reversals in commission and fee revenues related to the potential cancellation of client insurance policies that were in force as of each year end. The allowance for estimated policy cancellations is established through a charge to revenues. The allowance for estimated policy cancellations is offset in part by a producer commissions chargeback of $2.3 million and $1.7 million at December 31, 2021 and 2020. The producer commissions chargeback is established through a charge to commissions, employee compensation and benefits expense and is netted against producer commissions payable on the balance sheets.

The Company recognizes an allowance for credit losses that reflects the Company's estimate of expected credit losses for its premiums, commissions and fees receivable. This allowance is not significant during any periods presented.

Property and Equipment, Net

Property and equipment is stated at cost. For financial reporting purposes, depreciation of property and equipment is calculated using the straight-line method over the estimated useful lives of the assets as follows:


						Years
Building						39
Leasehold improvements						3 - 10
Furniture						5 - 7
Office and computer equipment						3 - 7
Website development						7

Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful life or the reasonably assured lease term at inception of the lease. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts. The difference between the net book value of the assets and proceeds from disposal is recognized as a gain or loss on disposal, which is included in other income (expense), net in the consolidated statements of comprehensive loss. Routine maintenance and repairs are charged to expense as incurred, while costs of improvements and renewals are capitalized.

Property and equipment is evaluated for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. An asset is considered to be impaired when the sum of the undiscounted future net cash flows expected to result from the use of the asset and its eventual disposition does not exceed its carrying amount. The amount of the impairment loss, if any, is measured as the amount by which the carrying value of the asset exceeds its fair value.

Intangible Assets, Net and Goodwill

The majority of the Company’s intangible assets are acquired in connection with strategic acquisitions made by the Company (“Partnerships”). Intangible assets identified in a Partnership are recorded at fair value on the acquisition date. The excess of the purchase price in a business combination over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed is assigned to goodwill.

Intangible assets are stated at cost, less accumulated amortization, and consist of purchased customer accounts, distributor relationships, carrier relationships, software and trade names acquired in connection with business combinations. Purchased customer accounts, distributor relationships, carrier relationships and trade names are being amortized based on a pattern of economic benefit over an estimated life of 1 to 20 years. Purchased customer accounts primarily consist of records and files that contain information about insurance policies and the related Clients that are essential to policy renewals. Distributor relationships consist of relationships with distributors that were not previously established. Carrier relationships consist of the infrastructure for fulfilling services as an MGA on behalf of the Insurance Company Partner. Trade names consist of acquired business names with potential customer base recognition. Intangible assets also include software, which is amortized on the straight-line basis over an estimated useful life of 2 to 5 years.

We review our definite-lived intangible assets and other long-lived assets for impairment at least annually or whenever an event occurs that indicates the carrying amount of an asset may not be recoverable. No impairment was recorded for the years ended December 31, 2021, 2020 or 2019.

Goodwill is subject to an impairment assessment on an annual basis or whenever indicators of impairment are present. The Company performs a qualitative assessment to determine whether a quantitative impairment test is necessary. In a quantitative assessment, the Company compares the fair value of each reporting unit with its carrying amount to determine if there is potential impairment of goodwill. If the carrying value of a reporting unit is greater than the fair value, an impairment charge is recorded for the amount that the carrying amount of the reporting unit, including goodwill, exceeds its fair value, limited to the amount of goodwill of the reporting unit.

Deferred Financing Costs, Net

Deferred financing costs consist of origination fees and debt issuance costs related to obtaining credit facilities. The Company has recorded these costs as an asset and liability on the consolidated balance sheets in accordance with ASC Topic 835-30, Interest. Deferred financing costs associated with revolving credit facilities are included in other assets on the consolidated balance sheets while those related to term loans are recorded as an offset to long-term debt. Deferred financing costs included in other assets were $4.9 million and $4.8 million, net of accumulated amortization of $1.8 million and $1.1 million, at December 31, 2021 and 2020, respectively. Deferred financing costs and original issue discount included in long-term debt totaled $26.6 million and $14.0 million, net of accumulated amortization of $3.2 million and $0.4 million, at December 31, 2021 and 2020, respectively. Such costs are amortized using the effective interest method over the terms of the respective debt. Amortization of deferred financing costs, which is included in interest expense, net in the accompanying consolidated statements of comprehensive loss, was approximately $3.5 million, $1.0 million, and $1.3 million for the years ended December 31, 2021, 2020 and 2019, respectively.

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 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.

Self-Insurance Reserve

The Company converted to a self-insured health insurance plan beginning in March 2020 for which it carries an insurance program with specific retention levels or high per-claim deductibles for expected losses. The Company records a liability for all unresolved claims and for an estimate of incurred but not reported ("IBNR") claims at the anticipated cost that falls below its specified retention levels or per-claim deductible amounts. In establishing reserves, the Company considers actuarial assumptions and judgments regarding economic conditions and the frequency and severity of claims. The Company had an IBNR reserve of $1.1 million and $0.7 million at December 31, 2021 and 2020, respectively, which is included in accrued expenses and other current liabilities on the consolidated balance sheets.

Leases

Leases are classified at their commencement date, which is defined as the date on which the lessor makes the underlying asset available for use by the lessee, as either operating or finance leases based on the economic substance of the agreement. We recognize right-of-use assets and lease liabilities on our consolidated balance sheets for operating leases. Lease liabilities are measured at the lease commencement date as the present value of the future lease payments using the interest rate implicit in the lease if readily determinable. Otherwise, the Company utilizes its incremental borrowing rate as of the lease commencement date. Lease right-of-use assets are measured as the lease liability plus initial direct costs and prepaid lease payments less lease incentives. The lease term is the non-cancelable period of the lease and includes options to extend or terminate the lease when it is reasonably certain that an option will be exercised.

Operating lease expenses on capitalized leases and short-term leases are recognized on a straight-line basis over the respective lease term, inclusive of rent escalation provisions and rent holidays, as a component of other operating expense in the consolidated statements of comprehensive loss.

Contingent Earnout Liabilities

The Company accounts for contingent consideration relating to business combinations as either contingently returnable consideration or a contingent earnout liability and a decrease (increase) to goodwill at the date of the acquisition and continually remeasures the asset or liability at each balance sheet date by recording changes in the fair value through change in fair value of contingent consideration in the consolidated statements of comprehensive loss. The ultimate settlement of contingently returnable consideration and contingent earnout liabilities relating to business combinations may be for amounts that are materially different from the amounts initially recorded and may cause volatility in the Company’s results of operations.

The Company accounts for contingent consideration relating to asset acquisitions as a contingent earnout liability and an increase to the cost of the acquired assets on a relative fair value basis at the date of the acquisition. Once recognized, the contingent earnout liability is not derecognized until the contingency is resolved and the consideration is issued or becomes issuable. If the amount initially recognized as a liability exceeds the fair value of the contingent consideration issued or issuable, the entity recognizes that amount as a reduction of the cost of the asset acquisition. The ultimate settlement of contingent earnout liabilities relating to asset acquisitions may be for amounts that are materially different from the amounts initially recorded.

The Company determines the fair value of contingently returnable consideration and contingent earnout liabilities based on future cash flow projections under various potential scenarios and weighs the probability of these outcomes as discussed further in Note 20.

Redeemable Noncontrolling Interest

ASC Topic 480, Distinguishing Liabilities from Equity (“Topic 480”), requires noncontrolling interests that are redeemable for cash or other assets to be classified outside of permanent equity if they are redeemable (i) at a fixed or determinable price on a fixed or determinable date, (ii) at the option of the holder, or (iii) upon the occurrence of an event that is not solely within the control of the issuer. Prior to the Reorganization Transactions, the equity securities of certain of the Company’s noncontrolling interests contained an embedded put feature that was redeemable at the election of the interest holder. The Company had no control over whether the put option was exercised, and therefore, redemption was outside the Company’s control. As such, these equity securities were recorded as redeemable noncontrolling interests.

Redeemable noncontrolling interests are reported at estimated redemption value measured as the greater of estimated fair value at the end of each reporting period or the historical cost basis of the redeemable noncontrolling interest adjusted for cumulative earnings or loss allocations. The resulting increases or decreases to redemption value, if applicable, are recognized as adjustments to retained earnings.

In conjunction with the Reorganization Transactions as discussed in Note 3, the Company executed its call rights for the majority of the redeemable noncontrolling ownership interests, which were converted into permanent equity through the issuance of Class B common stock and LLC Units. Rollover Members equity holdings held by BKS Smith, LLC and BKS MS, LLC, two of the Company’s VIEs, were not converted to permanent equity and remain redeemable and a component of redeemable noncontrolling interest subsequent to the conversion. All put rights no longer exist; however, some of these LLC Units and Class B common stock are not eligible to be converted into shares of Class A common stock until certain time has passed since the initial acquisition.

Noncontrolling Interest

Noncontrolling interests are reported at historical cost basis adjusted for cumulative earnings or loss allocations and classified as a component of stockholders’ equity on the consolidated balance sheets. Noncontrolling interest as presented for the year ended December 31, 2019 consists of the noncontrolling interest holdings of BRP Group subsequent to the Reorganization Transactions. The controlling interest holdings of BRP for the period from January 1, 2019 through October 27, 2019 have been reclassified to noncontrolling interest holdings of BRP Group for presentation of activity for the year ended December 31, 2019.

Income Taxes

BRP has been, and will continue to be, treated as a partnership for U.S. federal, state and local income tax purposes. As a partnership, BRP’s taxable income or loss is included in the taxable income of its members. Accordingly, no income tax expense was recorded for federal and state and local jurisdictions for periods prior to the Initial Public Offering.

BRP Group is a taxable entity and in connection with the Initial Public Offering and the Reorganization Transactions completed on October 28, 2019, the Company became a taxable entity. In addition, BRP Colleague Inc., a subsidiary of BRP Group, was formed as a C Corporation during 2017 and is a taxable entity.

The Company accounts for income taxes pursuant to the asset and liability method which requires the recognition of deferred income tax assets and liabilities related to the expected future tax consequences arising from temporary differences between the carrying amounts and tax bases of assets and liabilities based on enacted statutory tax rates applicable to the periods in which the temporary differences are expected to reverse. Any effects of changes in income tax rates or laws are included in income tax expense in the period of enactment.

The Company and its subsidiaries follow ASC Topic 740, Income Taxes. A component of this standard prescribes a recognition and measurement threshold of uncertain tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. Management has evaluated the Company’s tax positions and concluded that the Company has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. The Company does not expect any of its tax positions to change significantly in the near term.

Tax Receivable Agreement

The Company’s purchase of BRP’s LLC Units concurrent with the Initial Public Offering, and the future exchanges of LLC Units from BRP’s LLC Members and the corresponding number of shares of Class B common stock for shares of Class A common stock, is expected to result in increases in its share of the tax basis of the tangible and intangible assets of BRP, which will increase the tax depreciation and amortization deductions that otherwise would not have been available to BRP Group. These increases in tax basis and tax depreciation and amortization deductions are expected to reduce the amount of cash taxes that BRP Group would otherwise be required to pay in the future. BRP Group has entered into a Tax Receivable Agreement, with the other members of BRP that requires it to pay them 85% of the amount of cash savings, if any, in U.S. federal, state, and local income tax that BRP Group actually realizes (or, under certain circumstances, is deemed to realize) as a result of the increases in tax basis in connection with exchanges by the recipients described above and certain other tax benefits attributable to payments under the Tax Receivable Agreement.

Share-Based Compensation

Share-based payments to employees and non-employee directors are measured based on the estimated grant-date fair value. The grant-date fair value of unrestricted and restricted stock awards is equal to the market value of BRP Group’s Class A common stock on the date of grant. We offer awards which vest based on service conditions, performance conditions, or market conditions. We apply the Black-Scholes option-pricing model, a Monte Carlo Simulation, or a lattice model, depending on the vesting conditions, in determining the fair value of performance-based restricted stock unit awards to employees. The Company recognizes share-based compensation expense over the requisite service period for awards expected to ultimately vest. The Company recognizes forfeitures as they occur.

Advisor Incentive Plan

Prior to the Company's Initial Public Offering, BRP had advisor incentive agreements with several of its producers (“Risk Advisors”) to incentivize them to stay with the Company and grow their book of business. The incentive rights had a deposit buy-in requirement payable in the form of payroll withholding or other cash payments for which the Company recorded an advisor incentive liability. The incentive rights could be converted to LLC Units after the achievement of certain milestones, subject to approval at the discretion of management. Risk Advisors were deemed probable of meeting the performance condition after having achieved the first milestone related to their advisor incentive agreements.

The Company’s obligation related to advisor incentive liabilities of all but one Risk Advisor was settled in connection with the Reorganization Transactions as discussed in Note 3. One Risk Advisor chose not to convert his incentive rights into common stock of BRP Group. As a result, this advisor’s incentive liability remains outstanding at December 31, 2021. Advisor incentive liabilities, which are included in other liabilities on the consolidated balance sheets, were approximately $3.6 million and $2.4 million at December 31, 2021 and 2020, respectively.

The Company continues to account for the remaining advisor incentive award as liability-classified share-based payment awards under ASC 718, Compensation - Stock Compensation (“Topic 718”). The Company estimates the fair value of the expected buyout amount each reporting period and records compensation expense and an increase to the advisor incentive liability and will continue to do so until a termination event occurs. Compensation expense for advisor incentive liabilities is included in commissions, employee compensation and benefits in the consolidated statements of comprehensive loss.

Participation Unit Ownership Plan

During 2019, the Company had a Participation Unit Ownership Plan (the “Participation Plan”), which offered certain Colleagues additional incentives to promote success. The Participation Plan permitted the grant of up to 100,000 participation units, to be settled in cash only. Participation units vested on the fifth anniversary of the date of the grant unless a qualifying event occurs, as outlined in the Participation Plan agreement. The Company’s obligation under the Participation Plan was settled in connection with the Reorganization Transactions as discussed in Note 3.

Fair Value of Financial Instruments

The carrying values of the Company’s financial assets and liabilities, including cash and cash equivalents, premiums, commissions and fees receivable, premiums payable to insurance companies and accrued expenses and other current liabilities, approximate their fair values because of the short maturity and liquidity of those instruments.

Concentrations

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents. The Company manages this risk by using high credit worthy 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.

For the year ended December 31, 2020, one Insurance Company Partner accounted for approximately 13% of the Company’s total core commissions. For the year ended December 31, 2019, two Insurance Company Partners accounted for approximately 14% and 10% of the Company’s total core commissions. There were no concentrations for the year ended December 31, 2021.

Reorganization Transactions (Notes)	12 Months Ended
Reorganization Transactions (Notes)	Dec. 31, 2021
Reorganization Transactions [Abstract]
Reorganization Transactions	Reorganization Transactions In connection with the Initial Public Offering, BRP Group and BRP entered into the Reorganization Transactions as follows: •BRP amended and restated its amended and restated limited liability company agreement (the “Amended LLC Agreement”) to, among other things, appoint BRP Group as the sole managing member of BRP and to modify BRP’s capital structure to reclassify all the equity interests into a single class of LLC units (the “LLC Units”); •as sole managing member of BRP, BRP Group consolidates the financial results of BRP and a portion of the net income is allocated to the noncontrolling interest to reflect the entitlement of the owners of BRP’s outstanding equity interests (“BRP’s LLC Members”) to a portion of BRP’s net income; •through a series of internal transactions, BRP issued LLC Units to equity holders of companies it has acquired (its “Partners”) (other than certain joint ventures) in exchange for all the equity interests in such Partners not held by BRP prior to such exchange; •BRP Group’s certificate of incorporation authorized the issuance of two classes of common stock including Class A common stock and Class B common stock, each of which entitles its holder to one vote per share on all matters submitted to a vote of the stockholders; •each of the owners of BRP LLC Units prior to the Initial Public Offering (the “Pre-IPO LLC Members”) was issued shares of BRP Group’s Class B common stock in an amount equal to the number of LLC Units held by each such member following the reclassification of the equity interest into LLC Units; •under the Amended LLC Agreement, BRP’s LLC Members have the right to require BRP to redeem all or a portion of their LLC Units for, at BRP Group’s election, newly-issued shares of Class A common stock on a one-for-one basis or a cash payment; •BRP Group and BRP’s members entered into the Stockholders Agreement, which provides that approval by BRP’s LLC Members is required for certain corporate actions; •BRP Group used the net proceeds from the Initial Public Offering to acquire 14,000,000 newly-issued LLC Units from Baldwin Risk Partners, LLC, 1,800,000 LLC Units from Lowry Baldwin, the Company’s Chairman, and 600,000 LLC Units from The Villages Invesco, LLC (“Villages Invesco”), one of our significant shareholders, at a purchase price per LLC Unit equal to the initial public offering price of Class A common stock after underwriting discounts and commissions; and •BRP Group entered into the Tax Receivable Agreement, which provides for payment by BRP Group to BRP’s LLC Members of 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax or franchise tax that BRP Group actually realizes. In connection with the Initial Public Offering, BRP Group issued one share of Class B common stock to Pre-IPO LLC Members for each LLC Unit held by such BRP LLC Members. BRP Group intends to issue one share of Class B common stock for each LLC Unit that BRP issues. The Class B common stock can be exchanged (together with a corresponding number of LLC Units) for shares of Class A common stock on a one-for-one basis, subject to certain restrictions, and the shares of Class B common stock will be canceled on a one-for-one basis with the redemption or exchange. As a result, the number of shares of Class B common stock will continue to increase with each Partnership in which we issue a noncontrolling interest, which will dilute the ownership interest of the Company’s Class A common stockholders. In conjunction with the Reorganization Transactions, BRP issued LLC Units to equity holders of its Partners (other than certain joint ventures) in exchange for all of the equity interests in such Partners not held by BRP prior to such exchange. In each of the Partner operating agreements, BRP held a right to acquire the equity interests of the Partners of the underlying subsidiaries. Acquisition of the Partners’ equity interests was recorded in accordance with Topic 810. Previously redeemable Voting Common Units were replaced with LLC Units that do not contain a similar redemption provision while certain redeemable noncontrolling interests remain redeemable subsequent to the conversion. The following is a description of the transactions to convert the Company’s obligations related to its advisor incentive agreements and Participation Plan to shares of Class A common stock. •The Company exchanged $2.2 million of its obligation related to advisor incentive liabilities for 204,807 restricted shares of Class A common stock issued under the Company’s Omnibus Incentive Plan. The Company established stockholder notes receivable of $0.5 million for the remaining deposit buy-in amounts due from the advisors and relieved advisor incentive liabilities for $2.2 million with an offset to additional paid-in capital of $2.6 million. •The Company’s obligation under the Participation Plan of $0.3 million was exchanged for 22,243 restricted shares of Class A common stock issued under the Company’s Omnibus Incentive Plan, which resulted in an offset to additional paid-in capital of $(0.3) million. The following is a description of the transactions to convert LLC Units held by each of the Pre-IPO LLC Members to shares of Class B common stock in an amount equal to the number of LLC Units held by each such member following the reclassification of the equity interest into LLC Units. •The Company executed its call rights for the Voting Common Units of two minority founders, a component of redeemable members’ capital prior to the reorganization, which were converted into permanent equity consisting of 5,701,107 shares of Class B common stock and LLC Units. •The Company executed its call rights for the Villages Voting Common Units, a component of redeemable members’ capital prior to the reorganization, which were converted into permanent equity consisting of 3,077,559 shares of Class B common stock and LLC Units. •The Company executed its call rights for the Rollover Members’ Units, which comprised redeemable noncontrolling interest prior to the reorganization, which were converted into 9,615,911 shares of Class B common stock and LLC Units. •Voting Common Units held by the majority founder, which comprised members’ equity prior to the reorganization, were converted into 18,933,907 shares of Class B common stock and LLC Units. •The Non-Voting Common Units, which comprised noncontrolling interest prior to the reorganization, were converted into permanent equity consisting of 232,596 shares of Class B common stock and LLC Units. •Management Incentive Units were converted to 5,627,155 restricted shares of Class B common stock and LLC Units.

Business Combinations (Notes)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Business Combination Disclosure

Business Combinations

The Company completed 16 business combinations for an aggregate purchase price of $1.1 billion during the year ended December 31, 2021. In accordance with ASC Topic 805, Business Combinations (“Topic 805”), total consideration was first allocated to the fair value of assets acquired and liabilities assumed, with the excess being recorded as goodwill. Goodwill is not amortized for financial statement purposes, but rather is evaluated for impairment at least annually or more frequently if an event 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 many business combinations includes an estimation of the fair value of continent consideration obligations associated with potential earnout provisions, which are generally based on revenue. The contingent earnout consideration identified in the tables below are measured at fair value within Level 3 of the fair value hierarchy as discussed further in Note 20. Any subsequent changes in the fair value of contingent earnout liabilities will be recorded in the consolidated statements of comprehensive 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 year ended December 31, 2021:

•LeaseTrack Services LLC and Effective Coverage LLC (collectively, “LeaseTrack”), a Specialty Partner effective February 1, 2021, provides 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, further bolsters 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, expands the Company’s Pacific Northwest Medicare Advantage presence.

•Seniors’ Insurance Services of Washington, Inc. (“Seniors’ Insurance Services”), a Medicare Partner effective April 30, 2021, strengthens and expands the Company’s Medicare presence in the Pacific Northwest.

•Mid-Continent Companies, Ltd. and Mid-Continent Securities Ltd. (collectively, “Mid-Continent”), a Middle Market Partner effective April 30, 2021, expands the Company’s capabilities and Middle Market presence in Texas.

•RogersGray Inc. and Breakwater Brokerage, LLC, collectively, a Middle Market Partner, and Monomoy Insurance Group, LLC, a Specialty Partner (collectively, “RogersGray”), effective July 1, 2021, enhances and further expands the Company’s geographic footprint and product offerings in New England and the broader Northeast region.

•EBSME, LLC (“EBSME”), a Middle Market Partner effective July 30, 2021, expands employee benefits service offerings to the Company’s Middle Market clients.

•FounderShield LLC, AlphaRoot LLC, ReShield LLC, and Scale Underwriting Services LLC (collectively, “FounderShield”), a Specialty Partner effective August 2, 2021, 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.

•TCG Financial Holding Company, LLC and certain of its subsidiaries (collectively, “The Capital Group”), a Middle Market Partner effective August 2, 2021, adds scale and density in the critical D.C. Metro region.

•River Oak Risk, LLC and River Oak Risk Holdings, LLC (collectively “River Oak Risk”), a Specialty Partner effective August 4, 2021, expands the Company’s captive risk solutions for its Middle Market and Specialty clients.

•White Hill Plaza, Inc. (operating as "K&S Insurance Agency"), a Middle Market Partner effective October 1, 2021, expands the Company's presence in Texas and brings expertise in the construction industry.

•Jacobson, Goldfarb & Scott, Inc. and certain of its subsidiaries (collectively, "JGS"), a Middle Market and Specialty Partner effective October 1, 2021, expands the Company’s Middle Market practice expertise in key markets and industries, including Habitational Real Estate, Construction and Manufacturing & Distribution and expands our Specialty Programs business with a focus on the real estate sector.

•Wood Guttman & Bogart Insurance Brokers and certain of its affiliates and related entities (collectively, "WGB"), a Middle Market Partner effective December 1, 2021, adds scale to the Company's West Coast operations.

•Construction Risk Partners, LLC ("CRP") a Middle Market Partner effective December 1, 2021, enhances BRP Group’s position and influence within the Construction marketplace.

•Brush Creek, LLC ("Brush Creek Partners"), a Middle Market Partner effective December 7, 2021, strengthens the Company's expertise in the Cyber and Technology, Venture Capital, Private Equity, and Construction industries.

•Arcana Insurance Services, LP ("Arcana") a Specialty Partner effective December 7, 2021, will bring unique product capabilities in the single-family real estate market to the Company.

The operating results of these business combinations have been included in the consolidated statements of comprehensive loss since their respective acquisition dates. The Company recognized total revenues and net income from its business combinations of $61.0 million and $2.8 million, respectively, for the year ended December 31, 2021.

Acquisition-related costs incurred in connection with these business combinations are recorded in operating expenses in the consolidated statements of comprehensive loss. The Company incurred acquisition-related costs from its business combinations of $5.9 million for the year ended December 31, 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 Company also assesses the fair value of purchased customer accounts, distributor relationships, and carrier relationships by comparison of a reasonable multiple applied to either the corresponding commissions and fees or EBITDA in addition to considering the estimated future cash flows expected to be received over the estimated future renewal periods of the insurance policies comprising the intangible assets through the use of recognized income approach valuation methods. The valuation of these intangible assets involves significant assumptions concerning matters such as revenue and expense growth rates, customer attrition rates and discount rates. Any changes in these assumptions could affect the carrying value of the intangible assets. Software and trade names are also recorded based on the estimated fair value of the acquired technology or trade name. 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 10 for information regarding measurement period adjustments recorded during the year ended December 31, 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 year ended December 31, 2021.


(in thousands)	Rogers-Gray		Founder Shield		The Capital Group		K&S Insurance Agency		JGS		WGB		CRP		All Others(1)		Totals
Cash consideration paid	$	135,135	$	20,863	$	28,558	$	79,861	$	155,513	$	101,077	$	131,908	$	64,373	$	717,288
Fair value of contingent earnout consideration	18,976		18,033		10,006		11,273		19,573		14,371		17,852		17,261		127,345
Fair value of equity interest	39,765		14,624		13,393		24,826		44,385		22,553		24,179		10,882		194,607
Deferred payment	1,608		2,985		10,336		22		193		1,274		1,830		4,747		22,995
Total consideration	$	195,484	$	56,505	$	62,293	$	115,982	$	219,664	$	139,275	$	175,769	$	97,263	$	1,062,235

Cash	$	2,674	$	221	$	613	$	2,217	$	335	$	385	$	848	$	4,437	$	11,730
Restricted cash	4,211		3,199		—		—		6,996		1,297		19,188		162		35,053
Premiums, commissions and fees receivable	9,713		3,810		3,940		5,867		12,564		13,785		67,514		4,187		121,380
Property and equipment	1,324		—		—		—		1,431		1,034		203		43		4,035
Other assets	589		52		—		—		282		1,657		—		41		2,621
Intangible assets	76,169		9,402		26,399		53,750		86,078		72,619		82,053		32,908		439,378
Goodwill	109,145		45,810		32,251		59,146		126,696		58,569		85,664		62,164		579,445
Total assets acquired	203,825		62,494		63,203		120,980		234,382		149,346		255,470		103,942		1,193,642
Premiums payable to insurance companies	(5,898)		(5,831)		—		(4,209)		(12,336)		—		(75,133)		(4,511)		(107,918)
Producer commissions payable	(749)		—		(906)		(774)		(481)		(3,369)		(17)		(555)		(6,851)
Accrued expenses and other current liabilities	(1,694)		(158)		(4)		(15)		(1,901)		(6,702)		(4,551)		(1,613)		(16,638)
Total liabilities acquired	(8,341)		(5,989)		(910)		(4,998)		(14,718)		(10,071)		(79,701)		(6,679)		(131,407)
Net assets acquired	$	195,484	$	56,505	$	62,293	$	115,982	$	219,664	$	139,275	$	175,769	$	97,263	$	1,062,235

Maximum potential contingent earnout consideration	$	72,446	$	77,554	$	29,888	$	51,426	$	91,425	$	49,628	$	99,455	$	73,338	$	545,160

__________

(1) The "All Others" column includes amounts for the LeaseTrack, Medicare Help Now, Only Medicare Solutions, Seniors’ Insurance Services, Mid-Continent, EBSME, River Oak Risk, Brush Creek Partners and Arcana business combinations.

The factors contributing to the recognition of the amount of goodwill are based on expanding business presence into new geographic locations and service markets, strategic benefits that are expected to be realized from acquiring the Partners’ assembled workforce 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 year ended December 31, 2021 have an estimated weighted-average life as follows:


(in thousands)	Amount	Weighted-Average Life
Purchased customer accounts	350,313	19.4	years
Distributor relationships	68,241	20.0	years
Software	10,918	4.6	years
Trade names	9,906	5.0	years

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, Mid-Continent, RogersGray, EBSME, FounderShield, The Capital Group, River Oak Risk, K&S Insurance Agency, JGS, WGB, CRP, Brush Creek Partners and Arcana 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 Years Ended December 31,
(unaudited) (in thousands, except per share data)	2021		2020
Pro forma results:
Total revenues	$	719,320	$	429,953
Net loss	(34,667)		(34,907)
Net loss attributable to BRP Group, Inc.	(19,147)		(17,613)

Basic and diluted loss per share	$	(0.40)	(0.62)
Weighted-average shares of Class A common stock outstanding - basic and diluted	48,222		28,225

__________

(1) Reflects annual GAAP revenue/net loss, plus revenue/net income (loss) from Partnerships in the unowned portion of the period based on a quality of earnings review and not an audit, in each case, at the time the due diligence was conducted and may not include full revenue run rate for partial period impacts in the quality of earnings review and revenue growth between the quality of earnings review and the period close date, which may be three to six months delayed.

Variable Interest Entities (Notes)	12 Months Ended
Variable Interest Entities (Notes)	Dec. 31, 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 December 31, 2021 and 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 consolidated statements of comprehensive loss were $1.0 million and $0.6 million, respectively, for the year ended December 31, 2021, $0.8 million and $0.7 million, respectively, for the year ended December 31, 2020, and $0.6 million and $0.7 million, respectively, for the year ended December 31, 2019. The assets of the consolidated VIEs can only be used to settle the obligations of the consolidated VIEs and the creditors of the liabilities of the consolidated VIEs do not have recourse to the Company.

Revenue (Notes)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue

The following table provides disaggregated commissions and fees revenue by major source:


	For the Years Ended December 31,
(in thousands)	2021		2020		2019
Direct bill revenue (1)	$	269,603	$	104,875	$	70,835
Agency bill revenue (2)	202,892		91,662		43,619
Profit-sharing revenue (3)	37,392		16,397		9,598
Consulting and service fee revenue (4)	29,047		3,509		2,709
Policy fee and installment fee revenue (5)	19,858		15,236		8,154
Other income (6)	8,498		9,240		2,926
Total commissions and fees	$	567,290	$	240,919	$	137,841

__________

(1) Direct bill revenue represents commission revenue earned by facilitating the arrangement between individuals or businesses and Insurance Company Partners to provide 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 to provide 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) Service fee revenue is earned by receiving negotiated fees in lieu of a commission and consulting revenue is earned by providing specialty insurance consulting.

(5) 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.

(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 ancillary income and premium financing income generated across all Operating Groups.

The application of 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 BRP 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 (CMS).

•The Company recognizes separately contracted commissions revenue at the effective date of insurance placement and considers any ongoing interaction with the customer to be insignificant 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 income.

•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.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Contract Assets and Liabilities (Notes)

12 Months Ended

Dec. 31, 2021

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]

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 consolidated balance sheets. The balances of contract assets and liabilities arising from contracts with customers were as follows:


	December 31,
(in thousands)	2021		2020
Contract assets	$	168,550	$	80,213
Contract liabilities	18,178		11,606

Contract assets and contract liabilities related to 2021 business combinations comprised $26.0 million and $3.9 million, respectively, at December 31, 2021. During the year ended December 31, 2021, the Company recognized revenue of $11.6 million related to the contract liabilities balance at December 31, 2020.

Deferred Commission Expense (Notes)

12 Months Ended

Dec. 31, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

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 period over which a Client maintains its initial coverage relationship with the original Insurance Company Partner. Deferred commission expense represents employee commissions that are capitalized and not yet expensed and are included as a component of other assets on the balance sheets. The table below provides a rollforward of deferred commission expense:


	For the Years Ended December 31,
(in thousands)	2021		2020
Balance at beginning of year	$	4,751	$	3,621
Costs capitalized	8,812		2,528
Amortization	(2,227)		(1,398)
Balance at end of year	$	11,336	$	4,751

Property and Equipment, Net (Notes)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and equipment, net consists of the following:


	December 31,
(in thousands)	2021		2020
Leasehold improvements	$	7,967	$	5,297
Office and computer equipment	9,151		4,263
Furniture	3,970		2,845
Building	400		400
Website development	184		16
Land	100		100
Construction in process	—		83
Total property and equipment	21,772		13,004
Accumulated depreciation	(4,298)		(1,985)
Property and equipment, net	$	17,474	$	11,019

Depreciation expense recorded for property and equipment was $2.8 million, $1.1 million, and $0.5 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Intangible Assets, Net and Goodwill (Notes)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net and Goodwill

The Company recognizes certain separately identifiable intangible assets acquired in connection with business combinations and asset acquisitions. The Company had certain transactions that were accounted for as asset acquisitions during each of the years ended December 31, 2021 and 2020 in which substantially all the fair value of the gross assets acquired of $4.2 million and $2.4 million, respectively, was concentrated in purchased customer accounts. Refer to Note 4 for a summary of intangible assets acquired in connection with business combinations during the years ended December 31, 2021 and 2020. Intangible assets consist of the following:


	December 31, 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)	$	851,445	$	(54,481)	$	796,964	$	501,512	$	(18,604)	$	482,908
Distributor relationships	100,621		(3,814)		96,807		32,380		(1,377)		31,003
Software	41,743		(18,265)		23,478		30,828		(10,801)		20,027
Trade names (1)	24,189		(3,583)		20,606		14,439		(932)		13,507
Carrier relationships	7,859		(1,247)		6,612		7,859		(984)		6,875
Totals	$	1,025,857	$	(81,390)	$	944,467	$	587,018	$	(32,698)	$	554,320

__________

(1) During the year ended December 31, 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 $0.2 million, respectively.

Amortization expense recorded for intangible assets was $48.7 million, $19.0 million, and $10.0 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Future annual estimated amortization expense over the next five years for intangible assets is as follows (in thousands):


For the Years Ending December 31,	Amortization
2022	$	70,174
2023	71,268
2024	67,213
2025	65,627
2026	60,788

Refer to Note 4 for a summary of goodwill recorded in connection with business combinations during the years ended December 31, 2021 and 2020. The changes in carrying value of goodwill by Operating Group for the periods are as follows:


(in thousands)	Middle Market		Specialty		MainStreet		Medicare		Total
Balance at December 31, 2019	$	52,932	$	60,115	$	38,892	$	12,531	$	164,470
Goodwill of acquired businesses	473,926		5,204		—		7,902		487,032
Balance at December 31, 2020	526,858		65,319		38,892		20,433		651,502
Goodwill of acquired businesses	376,475		198,699		—		4,271		579,445
Measurement period adjustments (1)	(2,206)		—		—		—		(2,206)
Balance at December 31, 2021	$	901,127	$	264,018	$	38,892	$	24,704	$	1,228,741

__________

(1) Measurement period adjustments relating to businesses acquired in the fourth quarter of 2020 decreased assets other than goodwill by $5.4 million, decreased liabilities by $5.1 million and decreased cash consideration by $2.5 million.

Accrued Expenses and Other Current Liabilities (Notes)

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Accounts Expenses and Other Current Liabilities

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following:


	December 31,
(in thousands)	2021		2020
Accrued compensation and benefits	$	22,460	$	10,826
Contract liabilities	18,178		11,606
Current portion of operating lease liabilities	12,520		—
Deferred consideration payments	12,355		8,155
Accrued expenses	9,731		13,032
Current portion of long-term debt	8,521		4,000
Tax distribution payable	5,072		—
Other	3,386		3,871
Accrued expenses and other current liabilities	$	92,223	$	51,490

Long-term Debt (Notes)

12 Months Ended

Dec. 31, 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 October 14, 2027 (the “Existing Term Loan B”) and (ii) a revolving credit facility with commitments in an aggregate principal amount of $400.0 million maturing October 14, 2025 (the “Revolving Facility”). The Company used a portion of the proceeds from the Term Loan B to repay in full the Company’s obligations under the previous JPMorgan Credit Agreement and the related amendments (“Old JPMorgan Credit Agreement”) and concurrently terminated the Old JPMorgan Credit Agreement. The Company capitalized debt issuance costs related to the JPM Credit Agreement of $15.1 million during the year ended December 31, 2020.

The Existing Term Loan B accrued interest at LIBOR plus 400 bps with a LIBOR floor of 75 bps. Borrowings under the Revolving Facility accrue interest at LIBOR plus 200 bps to LIBOR plus 300 bps based on the total net leverage ratio.

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 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 New Term Loan B bears interest at LIBOR plus 350 bps, subject to a LIBOR floor of 50 bps.

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.

On December 16, 2021, the Company entered into Amendment No. 4 to the JPM Credit Agreement to provide for a new senior secured first lien incremental term loan facility in an aggregate principal amount of $350.0 million (the “New Term Loans”), which represents an increase in the aggregate principal amount of its existing New Term Loan B from $500.0 million to $850.0 million. A portion of the proceeds of the New Term Loans were used to repay outstanding amounts under the Revolving Facility as of the closing date.

The Company incurred $12.7 million in debt issuance costs in connection with the aforementioned amendments during the year ended December 31, 2021.

The outstanding borrowings on the Revolving Facility of $35.0 million had an applicable interest rate of 2.10% at December 31, 2021. The Revolving Facility is also subject to a commitment fee of 0.25% on the unused capacity of $440.0 million at December 31, 2021. At December 31, 2021, the outstanding borrowings on the New Term Loans were $846.6 million and had an applicable interest rate of 4.00%. The JPM Credit Agreement is secured by substantially all assets of the Company.

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 December 31, 2021.

Future annual maturities of the Term Loan B are as follows as of December 31, 2021:


(in thousands)	Amount
Payments for the years ending December 31,
2022	$	8,521
2023	8,521
2024	8,521
2025	8,521
2026	8,521
Thereafter	804,018
Total long-term debt	846,623
Less: unamortized debt discount and issuance costs	(23,488)
Net long-term debt	$	823,135

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, which limit our interest rates by 0.75%, 1.50%, and 2.50%, expiring on March 10, 2022, March 10, 2024 and March 8, 2026, respectively. In August 2021, the Company executed two additional interest rate cap agreements, each with a notional amount of $100.0 million and interest rate cap of 3.00%, expiring on August 13, 2028. The interest rate caps are recorded at an aggregate fair value of $6.3 million at December 31, 2021 and are included as a component of other assets on the consolidated balance sheets. The Company recorded a fair value loss of $0.1 million related to the interest rate caps for the year ended December 31, 2021, which is included as a component of other income (expense), net in the consolidated statements of comprehensive loss.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

The Company has operating leases relating to its facilities and office equipment with terms expiring though December 2030. Determination of whether a new contract is a lease is made at contract inception or at the modification date for a modified contract. The Company's operating leases may require fixed rental payments, variable lease payments based on usage or sales and fixed non-lease costs relating to the leased asset. Fixed non-lease costs such as common-area maintenance costs are included in the measurement of the right-of-use asset and lease liability as the Company does not separate lease and non-lease components. Variable lease payments are generally not included in the measurement of the right-of-use asset and lease liability and are recorded as lease expense in the period incurred. Short-term leases of 12 months or less are expensed in conjunction with the Company's short-term policy election.

The Company's operating leases may include renewal or termination options. Options to extend or terminate leases are excluded from balance sheet recognition until the options are reasonably certain to be exercised. The Company only included executed options to extend its leases in its calculation of ROU assets and lease liabilities at December 31, 2021.

Operating lease right-of-use assets and lease liabilities as of December 31, 2021 and January 1, 2021 (the date of adoption of Topic 842) were as follows:


(in thousands)	December 31, 2021		January 1, 2021
Assets:
Right-of-use assets, operating, net	$	81,646	$	55,643

Liabilities:
Operating lease liabilities, current portion	$	12,520	$	7,668
Operating lease liabilities, non-current	71,357		48,699
Total	$	83,877	$	56,367

The components of the lease costs for the year ended December 31, 2021 were as follows:


(in thousands)	December 31, 2021
Operating lease costs	$	13,086
Variable lease costs	2,853

Total rent expense for operating leases under Topic 840 was $7.6 million and $4.2 million for the years ended December 31, 2020 and 2019, respectively.

Supplemental cash flow information relating to our leases for the year ended December 31, 2021 was as follows (in thousands):


(in thousands)	December 31, 2021
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows used in operating leases	$	11,562

Operating lease non-cash items:
Right-of-use assets obtained in exchange for operating lease liabilities	$	86,524
Right-of-use assets increased through lease modifications and reassessments	6,131

Weighted average remaining lease terms and discount rates at December 31, 2021 were as follows:

(in thousands)

December 31, 2021

Operating Leases:

Remaining lease term

6.6 years

Discount rate

3.6

Future minimum lease payments under non-cancelable operating lease agreements at December 31, 2021 were as follows:


(in thousands)	Minimum Lease Payments
For the years ending December 31,
2022	$	15,285
2023	14,134
2024	13,862
2025	12,556
2026	11,017
Thereafter	28,665
Total minimum lease payments	95,519
Less: amounts representing interest or imputed interest	(11,642)
Present value of lease liabilities	$	83,877

Prior to adoption of Topic 842, future minimum lease payments under non-cancelable operating lease agreements as of December 31, 2020, which were undiscounted and excluded non-lease components were as follows (in thousands):


(in thousands)	Minimum Lease Payments
For the years ending December 31,
2021	$	11,128
2022	9,477
2023	8,121
2024	7,489
2025	6,535
Thereafter	19,010
Total minimum lease payments	$	61,760

Stockholders Equity (Deficit) and Noncontrolling Interest

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Stockholders’ Equity (Deficit) and Noncontrolling Interest

Stockholders’ Equity and Noncontrolling Interest

Capital Stock

BRP Group’s certificate of incorporation authorized capital stock consisting of 300 million shares of Class A common stock with a par value $0.01 per share, 100 million shares of Class B common stock with a par value of $0.0001 per share, and 50 million shares of preferred stock with a par value of $0.01 per share.

The following table shows a rollforward of our common stock outstanding since the Initial Public Offering:


	Class A Common Stock	Class B Common Stock
Shares issued at October 28, 2019	—	—
Shares issued to the public in the Initial Public Offering	18,859,300	—
Shares issued for the Voting Common Units of two minority founders	—	5,701,107
Shares issued in exchange for Villages Units	—	3,077,559
Shares issued in exchange for Rollover Members’ Units	—	9,615,911
Shares issued for Majority Founder’s Units	—	18,933,907
Shares issued for Non-Voting Common Units	—	232,596
Shares issued for Management Incentive Units	—	5,627,155
Restricted stock grants in connection with Initial Public Offering	500,930	—
Restricted stock grants subsequent to the Initial Public Offering	2,754	—
Shares issued to executive officer	—	69,503
Shares issued at December 31, 2019	19,362,984	43,257,738
Shares issued to the public in follow-on offerings	23,287,500	—
Shares redeemed in connection with follow-on offerings	—	(4,091,667)
Shares issued in connection with Partnerships	1,415,837	11,004,696
Redemption of Class B shares of common stock for Class A shares	253,599	(253,599)
Restricted stock grants under Omnibus Plan, net of forfeitures and shares withheld for taxes	633,246	—
Shares repurchased	—	(88,785)
Shares issued at December 31, 2020	44,953,166	49,828,383
Shares issued to the public in follow-on offerings	9,200,000	—
Shares issued in connection with Partnerships	1,053,190	7,441,139
Common stock and restricted stock grants under Incentive Plan, net of forfeitures and shares withheld for taxes	1,558,694	—
Common stock and restricted stock grants under Omnibus Plan, net of forfeitures and shares withheld for taxes	906,338	—
Redemption of Class B shares of common stock for Class A shares	931,471	(931,471)
Shares issued at December 31, 2021	58,602,859	56,338,051

Class A Common Stock

Shareholders of BRP Group’s Class A common stock are entitled to one vote for each share held of record on all matters on which stockholders are entitled to vote generally, including the election or removal of directors, although they do not have cumulative voting rights in the election of directors. Shareholders of Class A common stock are entitled to receive dividends when and if declared by our board of directors, subject to any restrictions on the payment of dividends.

Upon our liquidation, dissolution or winding up and after payment in full of all amounts required to be paid to creditors and to the holders of preferred stock having liquidation preferences, if any, the shareholders of Class A common stock will be entitled to receive pro rata our remaining assets available for distribution.

Class B Common Stock

Each share of Class B common stock entitles the stockholder to one vote per share on all matters submitted to a vote of our stockholders. If at any time the ratio at which LLC Units are redeemable or exchangeable for shares of Class A common stock changes from one-for-one, the number of votes to which Class B common stockholders are entitled will be adjusted accordingly. Class B common stockholders will vote together with Class A common stockholders as a single class on all matters on which stockholders are entitled to vote generally, except as otherwise required by law. Class B common stockholders do not have cumulative voting rights in the election of directors.

The Class B common stock can be exchanged (together with a corresponding number of LLC Units) for shares of Class A common stock on a one-for-one basis, subject to certain restrictions, and the shares of Class B common stock will be canceled on a one-for-one basis with the redemption or exchange. Except for transfers to us pursuant to the Amended LLC Agreement or to certain permitted transferees, the holders of LLC Units are not permitted to sell, transfer or otherwise dispose of any LLC Units or shares of Class B common stock.

Class B common stockholders do not have any right to receive dividends or to receive a distribution upon a liquidation or winding up of BRP Group. Pursuant to the Stockholders Agreement, the approval of the Pre-IPO LLC Members, is required for substantially all transactions and other matters requiring approval by our stockholders, in addition to other matters such as changing the number of directors on the board, changing the jurisdiction of incorporation, changing the location of the Company’s headquarters, changing the name of the Company, amendments to governing documents, adopting a shareholder rights plan and any changes to the Company’s fiscal year or public accountants. Approval by the Pre-IPO LLC Members is required for any changes to the strategic direction or scope of BRP Group’s and BRP’s business and the hiring and termination of our Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Chief Partnership Officer or other change to senior management or key employees (including terms of compensation).

Noncontrolling Interest

In connection with the Initial Public Offering and the Reorganization Transactions, BRP Group became the sole managing member of BRP. As a result, BRP Group began consolidating BRP in its consolidated financial statements as of the closing date of the Initial Public Offering, resulting in a noncontrolling interest related to the LLC Units held by BRP’s members on its consolidated financial statements. Noncontrolling interest previously represented Partners’ equity interests in underlying subsidiaries. Refer to Note 3 for additional information regarding the Reorganization Transactions’ effect on equity.

Under the Amended LLC Agreement, BRP’s LLC Members have the right, from and after the completion of the Initial Public Offering (subject to the terms of the Amended LLC Agreement), to require BRP Group to redeem all or a portion of their LLC Units for, at BRP Group’s election, newly-issued shares of Class A common stock on a one-for-one basis or a cash payment equal to the volume weighted average market price of one share of BRP Group’s Class A common stock for each LLC Unit redeemed. Additionally, in the event of a redemption request by a BRP LLC Member, BRP Group may, at its option, effect a direct exchange of cash or Class A common stock for LLC Units in lieu of such a redemption. Shares of Class B common stock will be canceled on a one-for-one basis if BRP Group, at the election of a BRP LLC Member, redeems or exchanges LLC Units of such BRP LLC Member pursuant to the terms of the Amended LLC Agreement. Except for transfers to BRP Group pursuant to the Amended LLC Agreement or to certain permitted transferees, BRP’s LLC Members are not permitted to sell, transfer or otherwise dispose of any LLC Units or shares of Class B common stock.

The following table summarizes the ownership interest in BRP:


	December 31, 2021			December 31, 2020
	Units	Percentage		Units	Percentage
Interest in BRP held by BRP Group	58,602,859	51	%	44,953,166	47	%
Noncontrolling interest in BRP held by BRP’s LLC Members	56,338,051	49	%	49,828,383	53	%
Total	114,940,910	100	%	94,781,549	100	%

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Related Party Transactions (Notes)	12 Months Ended
Related Party Transactions (Notes)	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Several of the Reorganization Transactions discussed previously in these notes to consolidated financial statements are related party transactions entered into between the Company and its equity holders and employees. Refer to Note 3 for additional information regarding the Reorganization Transactions. In addition, the Company has an advisor incentive liability with one of its Risk Advisors. Refer to Note 2 for additional information regarding this related party transaction. Due to/from Related Parties Due to related parties totaling $1.7 million and $19,000 at December 31, 2021 and 2020, respectively, consists of amounts due to related party entities in connection with Partnerships for cash requirements. In September 2021, the Company accelerated recognition of MSI’s maximum contingent earnout and entered into notes payable agreements with each of MSI’s shareholders for a combined principal amount of $61.5 million. The related party notes are payable in full on April 8, 2022. Related Party Debt During April 2016, the Company entered into the Villages Credit Agreement, which provided for a $100.0 million non-revolving line of credit (“Related Party Debt”) with Holding Company of the Villages, Inc. (“Villages”). The Related Party Debt required quarterly interest payments at a fixed rate per annum of 6.5% beginning July 1, 2016 and continuing on the first day of each calendar quarter thereafter until maturity on April 13, 2023. The agreement required that the Company issue Voting Common Units to Villages upon closing and concurrently with each additional advance made after the closing date. Advances on the Related Party Debt were to be made solely to finance permitted acquisitions or for general working capital purposes. During March 2019, the Company amended and restated the Villages Credit Agreement, which (i) increased the principal borrowing amount of the Related Party Debt to $125.0 million, (ii) increased the interest rate to a fixed rate of 8.75% per annum, and (iii) changed the maturity date to September 13, 2024. As consideration for the increase in the interest rate, the Company was no longer required to issue additional Voting Common Units to Villages upon the closing of each additional advance. On October 28, 2019, BRP used a portion of the proceeds it received from the sale of LLC Units to BRP Group in connection with the Initial Public Offering to repay in full the outstanding indebtedness and accrued interest under the Villages Credit Agreement in the amount of $89.0 million and concurrently terminated the Villages Credit Agreement. The Company recorded a loss on debt extinguishment of $6.2 million in connection therewith during the year ended December 31, 2019. During the year ended December 31, 2019, the Company recorded interest expense to Villages of $4.9 million, related to quarterly interest payments. Commission Revenue The Company serves as a broker for Villages. Commission revenue recorded as a result of these transactions was $1.8 million, $1.1 million and $1.3 million, for the years ended years ended December 31, 2021, 2020 and 2019, respectively. The Company serves as a broker for certain entities in which a member of our board of directors has a material interest. Commission revenue recorded as a result of these transactions was $0.3 million, $0.5 million and $0.2 million for the years ended December 31, 2021, 2020 and 2019, respectively. Commissions Expense Two brothers of Lowry Baldwin, our Board Chair, collectively received approximately $0.6 million from the Company in Risk Advisor commissions during each of the years ended December 31, 2021 and 2020. Rent Expense The Company has various agreements to lease office space from wholly-owned subsidiaries of Villages. Rent expense ranges from approximately $3,000 to $28,000 per month, per lease. Lease agreements expire on various dates through November 30, 2025. Total rent expense incurred with respect to Villages and its wholly-owned subsidiaries was approximately $0.5 million for each of the years ended December 31, 2021, 2020 and 2019. The Company has various agreements to lease office space from other related parties. Rent expense ranges from approximately $1,000 to $56,000 per month, per lease. Lease agreements expire on various dates through December 31, 2029. Total rent expense incurred with respect to related parties other than Villages was $2.5 million, $1.5 million and $0.8 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Share-Based Compensation

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

Omnibus Incentive Plan and Partnership Inducement Award Plan

On October 24, 2019, the Company adopted the BRP Group, Inc. Omnibus Incentive Plan (the “Omnibus Plan”) and on November 27, 2020, the Company adopted the BRP Group, Inc. Partnership Inducement Award Plan (the “Inducement Plan” and collectively, the "Plans") to motivate and reward employees (“Colleagues”) and other individuals to perform at the highest level and contribute significantly to the Company’s success, thereby furthering the best interests of BRP Group’s shareholders. The Plans permits the grant of stock options (both nonqualified and incentive stock options), stock appreciation rights (the “SARs”), restricted stock awards (“RSA”), restricted stock unit (“RSU”) awards, performance-based restricted stock unit (“PSU”) awards, and other performance awards, cash-based awards and share-based awards to the Company’s officers, employees, non-employee directors and consultants and advisors. Such awards may be for partial-year, annual or multi-year periods. Awards granted under the Inducement Plan require a minimum vesting period of one year.

The Omnibus Plan and Inducement Plan provide for the Company to make awards of 3,844,044 and 3,000,000 shares of Class A common stock, respectively, at December 31, 2021. Under the Omnibus Plan, the number of shares of Class A common stock reserved for issuance will increase automatically on the first day of each fiscal year by the lesser of (i) 2% of outstanding shares of Class A common stock and Class B common stock on the last day of the immediately preceding fiscal year and (ii) such number of shares as determined by BRP Group’s board of directors. In accordance therewith, the number of authorized shares of Class A common stock reserved for issuance under the Omnibus Plan increased by 2,298,818 shares at January 1, 2022.

The Plans are administered by the Compensation Committee, the members of which are independent members of the board of directors. Each contractual term of an award granted is fixed by the Compensation Committee, and except for limited circumstances, the term cannot exceed ten years from the grant date, and vesting is defined by the applicable award agreement. The aggregate value of all compensation paid to a non-employee director under the Omnibus Plan in any calendar year may not exceed $250,000.

At December 31, 2021, there were 1,111,870 and 680,991 shares underlying the Omnibus Plan and Inducement Plan, respectively, that were authorized, but not yet granted. The Company issues new shares of Class A common stock upon the exercise of stock options, the vesting of RSUs and performance shares and the grant of restricted stock awards. During the year ended December 31, 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 and executives during the year ended December 31, 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 January 1, 2019	—	—
Granted	503,684	$	14.00
Vested and settled	(173,440)	13.99
Outstanding at December 31, 2019	330,244	14.00
Granted	709,426	15.79
Vested and settled	(175,372)	12.09
Forfeited	(38,271)	14.40
Outstanding at December 31, 2020	826,027	15.92
Granted	2,758,207	31.72
Vested and settled	(279,494)	21.33
Forfeited	(89,009)	22.25
Outstanding at December 31, 2021	3,215,731	28.83
Non-vested shares expected to vest as of December 31, 2021	2,533,446	28.80

The total fair value of shares that vested and settled during the years ended December 31, 2021, 2020 and 2019 was $6.0 million, $2.1 million, and $2.4 million, respectively. Non-vested awards outstanding at December 31, 2021 include 95,822 performance-based restricted stock units expected to vest, which have an aggregate intrinsic value of $3.5 million and a weighted-average remaining contractual term of 2.2 years.

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 share-based compensation expense of $19.2 million, $7.7 million, and $4.6 million in connection with the Plans for the years ended December 31, 2021, 2020 and 2019, respectively, which is included in commissions, employee compensation and benefits expense on the consolidated statements of comprehensive loss. The compensation expense recorded for the year ended December 31, 2019 includes $1.1 million associated with certain awards for which the vesting was accelerated in connection with the successful Initial Public Offering. The Company had $75.3 million of total unrecognized compensation cost related to unvested shares at December 31, 2021, which is expected to be recognized over a weighted-average period of 3.0 years.

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 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.

On May 3, 2021, the Compensation Committee awarded the Company’s executive officers incentive compensation awards of (i) PSUs with an aggregate target grant date value of $3.1 million and (ii) restricted stock with an aggregate grant date value of $1.0 million. The restricted stock will vest in equal annual installments over five years, with the first installment vesting on March 15, 2022. The incentive compensation awards have an aggregate maximum value of $8.8 million.

The fair value of the PSUs was estimated on the grant date using a Monte Carlo analysis to model the value of the PSUs using the following assumptions. Expected volatility between 18% and 172% is based on the 1-year historical volatility of a peer group and other companies that are publicly traded within the Russell 3000 Index. The risk-free interest rate of 0.27% is based on the U.S. Treasury rate in effect at the time of the grant. Expected term of 2.7 years is based on the actual term of the awards.

Management Incentive Units

Management Incentive Units (“MIUs”) were non-voting units issued to certain senior management. In conjunction with the Reorganization Transactions further detailed in Note 3, MIUs were converted to 5,627,155 restricted shares of Class B common stock and LLC Units, which contain identical vesting conditions to the original MIU issuances. Issuances can vest subject to vesting terms according to time-based benchmarks or performance-based benchmarks that vary between issuance. MIUs are forfeited if certain vesting provisions are not met. Certain MIUs participate in distributions from the date of issuance while other MIUs were issued at a profits interest and therefore only participate in distributions in the event of liquidation. For the MIUs that management deem not probable of vesting, no share-based compensation expense is recorded.

There were 2,504,341 Class B shares related to the MIU Plan that were fully vested upon issuance, another 1,165,586 shares vested by December 31, 2019, and 609,500 and 467,237 shares vested during the years ended December 31, 2020 and 2021, respectively.

The following table summarizes the number of non-vested shares of Class B common stock related to the MIU Plan that are expected to vest in each of the following years:


For the Years Ending December 31,						Class B Shares
2022						450,744
2023						429,747

The following table summarizes the activity for awards granted by the Company under the MIU Plan:


	Shares	Weighted-Average Grant-Date Fair Value Per Share		Weighted-Average Contractual Term (in years)
Outstanding at January 1, 2019	720,180	$	3.15	1.90
Granted	475,900	7.34
Forfeited	(40,000)	2.97
Exchanged for options	(10,000)	2.97
Exchanged for Class B common stock	(1,146,080)	4.90
Outstanding at December 31, 2019	—	—		—

Valuation Assumptions

The fair value of each time-based and performance-based MIUs is estimated on the grant date using the Black-Scholes Model using the assumptions noted in the following table. Expected volatility is based on the historical volatility of a peer group of public and private companies. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant. The assumptions noted in the table below represent the weighted average of each assumption for each grant during the year.


	For the Year Ended December 31, 2019
Expected volatility	26.1	%
Expected dividend yield	0.2	%
Expected life (in years)	7.0
Risk-free interest rate	3.1	%

For certain MIUs granted in May and September 2019, the individuals are not entitled to dividends and therefore, an estimated dividend yield rate of 1.2% and 1.4%, respectively, was applied as management’s best estimate of future dividends based on projections and industry data.

Retirement Plan (Notes)	12 Months Ended
Retirement Plan (Notes)	Dec. 31, 2021
Retirement Benefits [Abstract]
Retirement Plan	Retirement PlanThe Company sponsors a 401(k) retirement plan for Colleagues who meet specific age and service requirements. This plan allows for participants to make salary deferral contributions. Employer matching and profit-sharing contributions to this plan are discretionary. Company contributions were $5.1 million, $1.3 million and $0.7 million for the years ended December 31, 2021, 2020 and 2019, respectively.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Income Taxes (Notes)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

As a result of the Initial Public Offering and the Reorganization Transactions, BRP Group became the sole managing member of BRP, which is treated as a partnership for U.S. federal, state and local income tax purposes. As a partnership, BRP is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by BRP is passed through to and included in the taxable income or loss of its partners, including BRP Group, on a pro rata basis. BRP Group is subject to U.S. federal income taxes, in addition to state and local income taxes, with respect to BRP Group’s allocable share of income of BRP.

As the Initial Public Offering occurred during the year ended December 31, 2019, and BRP Group had no business transactions or activities prior to the Initial Public Offering, no amounts related to the provision for income taxes were incurred for the period from January 1, 2019 to October 27, 2019.

Components of income tax expense (benefit) include the following:


	For the Years Ended December 31,
(in thousands)	2021		2020		2019
Current
Federal	$	11	$	—	$	13
State and local	3		—		4
Total tax expense (benefit)	$	14	$	—	$	17

Deferred
Federal	$	4	$	(4)	$	—
State and local	1		(1)		—
Total deferred income tax benefit	5		(5)		—
Total tax expense (benefit)	$	19	$	(5)	$	17

Income tax expense (benefit) at the Company’s effective tax rate differed from the statutory tax rate as follows:


	For the Years Ended December 31,
(in thousands)	2021		2020		2019
Loss before income taxes	$	(58,101)	$	(29,890)	$	(22,437)

Noncontrolling interest	7,072		4,415		3,138
Tax provision at statutory rate (21%)	(12,201)		(6,280)		(4,712)
Effect of:
Valuation allowance	6,942		3,383		2,228
State and local income tax	(2,403)		(1,215)		(1,064)
Share-based compensation	(467)		(175)		—
MIU issuance	452		22		328
IRC 162(m)	435		—		—
Meals and entertainment	86		110		79
State rate change	(12)		(206)		—
True-up and adjustments	3		(157)		—
Other	112		98		20
Total income tax expense (benefit)	$	19	$	(5)	$	17

The following table summarizes the components of deferred tax assets and liabilities:


	December 31,
(in thousands)	2021		2020
Deferred tax assets
Investment in Partnerships	$	75,368	$	50,364
Net operating loss	6,018		2,216
Capitalized transaction costs	2,304		2,477
Charitable contributions	143		—
163(j) limitation carryforward	38		—
Total deferred tax assets	83,871		55,057
Valuation allowance	(83,871)		(55,057)
Net deferred tax assets	$	—	$	—

Deferred tax balances reflect the impact of temporary differences between the carrying amount of assets and liabilities and their tax basis and are stated at the tax rates in effect when the temporary differences are expected to be recovered or settled. The Company assessed the future realization of the tax benefit of its existing deferred tax assets and concluded that it is more likely than not that all of the deferred tax assets will not be realized in the future. As a result, the Company recorded a valuation allowance of $83.9 million and $55.1 million against its deferred tax assets at December 31, 2021 and 2020, respectively.

As of December 31, 2021, the Company has not recognized any uncertain tax positions, penalties, or interest as management has concluded that no such positions exist. The Company is subject to examination for tax years beginning with the year ended December 31, 2019. The Company is not currently subject to income tax audits in any U.S. or state jurisdictions for any tax year.

Tax Receivable Agreement

BRP intends to make an election under Section 754 of the Internal Revenue Code of 1986, as amended, and the regulations thereunder (the “Code”) effective for each taxable year in which a redemption or exchange of LLC Units and corresponding Class B common stock for shares of Class A common stock occurs. There were exchanges that occurred during 2019 that are expected to result in tax basis adjustments to the assets of BRP that will be allocated to the Company and thus produce favorable tax attributes. The anticipated tax basis adjustments are expected to reduce the amount of tax that BRP Group would otherwise be required to pay in the future. The Company has determined that it is more likely than not that these benefits will not be realized.

On October 28, 2019, BRP Group entered into the Tax Receivable Agreement with BRP’s LLC Members that provides for the payment by BRP Group to BRP’s LLC Members of 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax or franchise tax that BRP Group actually realizes as a result of (i) any increase in tax basis in BRP assets resulting from (a) previous acquisitions by BRP Group of BRP’s LLC Units from BRP’s LLC Members, (b) the acquisition of LLC Units from BRP’s LLC Members using the net proceeds from any future offering, (c) redemptions or exchanges by BRP’s LLC Members of LLC Units and the corresponding number of shares of Class B common stock for shares of Class A common stock or cash or (d) payments under the Tax Receivable Agreement, and (ii) tax benefits related to imputed interest resulting from payments made under the Tax Receivable Agreement.

This payment obligation is an obligation of BRP Group, Inc. and not of Baldwin Risk Partners, LLC. For purposes of the Tax Receivable Agreement, the cash tax savings in income tax will be computed by comparing the actual income tax liability of BRP Group, Inc. (calculated with certain assumptions) to the amount of such taxes that BRP Group, Inc. would have been required to pay had there been no increase to the tax basis of the assets of Baldwin Risk Partners, LLC as a result of the redemptions or exchanges and had BRP Group, Inc. not entered into the Tax Receivable Agreement. Estimating the amount of payments that may be made under the Tax Receivable Agreement is by its nature imprecise, insofar as the calculation of amounts payable depends on a variety of factors. While the actual increase in tax basis, as well as the amount and timing of any payments under the Tax Receivable Agreement, will vary depending upon a number of factors, including the timing of redemptions or exchanges, the price of shares of our Class A common stock at the time of the redemption or exchange, the extent to which such redemptions or exchanges are taxable and the amount and timing of our income. The Company will account for the effects of these increases in tax basis and associated payments under the Tax Receivable Agreement arising from future redemptions or exchanges as follows:

•record an increase in deferred tax assets for the estimated income tax effects of the increases in tax basis based on enacted federal and state tax rates at the date of the redemption or exchange;

•to the extent it is estimated that the Company will not realize the full benefit represented by the deferred tax asset, based on an analysis that will consider, among other things, our expectation of future earnings, the Company will reduce the deferred tax asset with a valuation allowance; and

•record 85% of the estimated realizable tax benefit (which is the recorded deferred tax asset less any recorded valuation allowance) as an increase to the liability due under the Tax Receivable Agreement and the remaining 15% of the estimated realizable tax benefit as an increase to additional paid-in capital.

All of the effects of changes in any of our estimates after the date of the redemption or exchange will be included in net income. Similarly, the effect of subsequent changes in the enacted tax rates will be included in net income.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Earnings (Loss) Per Share (Notes)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

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, which can be exchanged (together with a corresponding number of LLC Units) for shares of Class A common stock on a one-for-one basis. The following potentially dilutive securities were excluded from the Company's diluted weighted-average number of shares outstanding calculation for the periods presented as their inclusion would have been anti-dilutive.


	For the Years Ended December 31,		October 28, 2019 through December 31, 2019
	2021	2020
Unvested restricted shares of Class A common stock	3,119,909	826,027	330,244
Shares of Class B common stock	56,338,051	49,828,383	43,257,738

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 net loss per share for the periods presented. The weighted average number of shares of Class A common stock outstanding for the period from October 28, 2019 to December 31, 2019 is based on the actual days in which the shares were outstanding for the period.


	For the Years Ended December 31,				October 28, 2019 through December 31, 2019
(in thousands, except per share data)	2021		2020
Basic and diluted net loss per share:
Net loss attributable to BRP Group, Inc.	$	(30,646)	$	(15,696)	$	(8,650)
Shares used for basic net loss per share:
Basic and diluted weighted-average shares of Class A common stock outstanding	47,588		27,176		17,917
Basic and diluted net loss per share	$	(0.64)	$	(0.58)	$	(0.48)

Fair Value Measurements (Notes)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

Topic 820 established a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy under Topic 820 are described below:

Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access.

Level 2: Inputs to the valuation methodology are quoted market prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.

Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

An asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Methodologies used for assets and liabilities measured at fair value on a recurring basis at December 31, 2021 and 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 following table summarizes Company’s assets and liabilities measured at fair value on a recurring basis within each level of the fair value hierarchy:


	December 31,
(in thousands)	2021		2020
Level 2
Interest Rate Caps	$	6,338	$	—
Level 2 Assets	$	6,338	$	—
Level 3
Contingent earnout liabilities	$	258,589	$	164,819
Level 3 Liabilities	$	258,589	$	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 December 31, 2021 and 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 $6.3 million at December 31, 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 the contingent earnout liabilities is based on sales projections for the Partners, which are reassessed each reporting period. Based on the Company’s ongoing assessment of the fair value of contingent earnout liability, the Company recorded a net increase in the estimated fair value of such liabilities of $45.2 million, $20.4 million and $10.6 million for the years ended December 31, 2021, 2020 and 2019, respectively. The Company has assessed the maximum estimated exposure to the contingent earnout liabilities to be $1.0 billion at December 31, 2021.

The Company also had contingently returnable consideration during the year ended December 31, 2020, which represented a contingent right of return from a Partner to reimburse the Company for a portion of the purchase price as part of the Partnership transaction. The fair value of the contingently returnable consideration was based on sales projections for the Partners, which were reassessed each reporting period. Based on the Company’s ongoing assessment of the fair value of contingently returnable consideration, the Company recorded a net decrease in the estimated fair value of such asset of $0.1 million for the year ended December 31, 2020. The contingently returnable consideration measurement period ended on December 31, 2020.

The Company measures contingently returnable consideration and contingent earnout liabilities at fair value at each reporting period using significant unobservable inputs classified within Level 3 of the fair value hierarchy. The Company uses a probability weighted value analysis as a valuation technique to convert future estimated cash flows to a single present value amount. The significant unobservable inputs used in the fair value measurements are sales projections over the earnout period, and the probability outcome percentages assigned to each scenario. Significant increases or decreases to either of these inputs would result in a significantly higher or lower asset or liability with a higher asset capped by the contractual maximum of the contingently returnable consideration and a higher liability capped by the contractual maximum of the contingent earnout consideration. 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 4 for additional information regarding contingently returnable consideration and contingent earnout consideration recorded in connection with business acquisitions.

The fair value of the contingent earnout liabilities is based on the present value of the expected future payments to be made to Partners in accordance with the provisions outlined in the respective purchase agreements, which is a Level 3 fair value measurement. In determining fair value, the Company estimates the Partner’s future performance using financial projections developed by management for the Partner and market participant assumptions that were derived for revenue growth, 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 5% to 22% at December 31, 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 5.00% to 15.50% at December 31, 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 Years Ended December 31,
	2021		2020
(in thousands)	Contingent Earnout Liabilities		Contingently Returnable Consideration(1)		Contingent Earnout Liabilities
Balance at beginning of year	$	164,819	$	70	$	48,769
Fair value of contingent consideration issuances (2)	122,622		—		98,523
Change in fair value of contingent consideration	45,196		(70)		20,446
Settlement of contingent consideration (3)	(74,048)		—		(2,919)
Balance at end of year	$	258,589	$	—	$	164,819

__________

(1) There was no contingently returnable consideration at December 31, 2021 or 2020.

(2) During the year ended December 31, 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 $127.3 million from business combinations in the current period.

(3) During the year ended December 31, 2021, the Company settled $61.5 million if its contingent earnout liabilities through the issuance of related party notes payable. Refer to Note 15 for additional information.

Significantly all of the change in fair value of contingent consideration during the years ended December 31, 2021, 2020 and 2019, respectively, 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 and the revolving lines of credit 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 and the revolving lines of credit was approximately $904.1 million and $402.0 million at December 31, 2021 and 2020, respectively, compared to outstanding principal amounts of $881.6 million and $399.0 million, respectively. The outstanding principal amount of long-term debt is netted against unamortized debt discount and issuance costs of $23.5 million and $13.6 million at December 31, 2021 and 2020, respectively, for balance sheet presentation.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal The 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)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Reporting

Segment Information

BRP Group’s business is divided into four Operating Groups: Middle Market, Specialty, MainStreet, and Medicare.

•The Middle Market Operating Group provides expertly-designed commercial risk management, employee benefits solutions and private risk management for mid-to-large size businesses and high net worth individuals, as well as their families.

•The Specialty Operating Group consists of two distinct businesses. Our specialty wholesale broker businesses 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 houses our MGA of the Future platform, in which we manufacture proprietary, technology enabled insurance product that is then distributed (in many instances via technology and/or API integrations) internally via our Risk Advisors in Middle Market and MainStreet and externally via select distribution partners, with a focus on sheltered channels where our product delivers speed, ease of use and certainty of execution, and example of which is our national embedded renter’s insurance product sold at point of lease via integrations with property management software providers.

•The MainStreet Operating Group offers personal insurance, commercial insurance and life and health solutions to individuals and businesses in their communities.

•The Medicare Operating Group offers consultation for government assistance programs and solutions, including traditional Medicare and Medicare Advantage, to seniors and Medicare-eligible individuals through a network of primarily independent contractor agents. In the Medicare Operating Group, BRP 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 our Insurance Company Partners.

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, BRP 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, BRP 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 Year Ended December 31, 2021
(in thousands)	Middle Market		Specialty		MainStreet		Medicare		Corporate and Other		Total
Revenues:
Commissions and fees (1)	$	363,822	$	144,455	$	34,344	$	27,392	$	(2,723)	$	567,290

Operating expenses:
Commissions, employee compensation and benefits (1)	234,652		102,824		22,884		16,309		23,381		400,050
Other operating expenses	50,037		13,716		4,970		5,289		28,150		102,162
Amortization	34,056		11,326		1,617		1,716		5		48,720
Change in fair value of contingent consideration	32,735		11,881		926		(346)		—		45,196
Depreciation	1,483		184		255		90		776		2,788
Total operating expenses	352,963		139,931		30,652		23,058		52,312		598,916

Operating income (loss)	10,859		4,524		3,692		4,334		(55,035)		(31,626)

Other income (expense):
Interest income (expense), net	(150)		(2)		—		1		(26,748)		(26,899)
Other income (expense), net	573		(38)		—		(4)		(107)		424
Total other income (expense)	423		(40)		—		(3)		(26,855)		(26,475)

Income (loss) before income taxes	11,282		4,484		3,692		4,331		(81,890)		(58,101)
Income tax expense	—		—		—		—		19		19
Net income (loss)	$	11,282	$	4,484	$	3,692	$	4,331	$	(81,909)	$	(58,120)

Capital expenditures	$	949	$	590	$	99	$	92	$	3,591	$	5,321
	At December 31, 2021
Total assets	$	2,142,485	$	549,662	$	61,322	$	56,472	$	66,366	$	2,876,307

__________

(1) During the year ended December 31, 2021, the Middle Market Operating Group recorded intercompany commissions and fees revenue from activity with the Specialty Operating Group of $1.5 million; the Specialty Operating Group recorded intercompany commissions and fees revenue from activity with itself of $0.2 million; the MainStreet Operating Group recorded intercompany commissions and fees revenue from activity with the Middle Market and Specialty Operating Groups of $0.5 million; and the Medicare Operating Group recorded intercompany commissions and fees revenue from activity with itself of $0.6 million. These intercompany commissions and fees are eliminated through Corporate and Other.


	For the Year Ended December 31, 2020
(in thousands)	Middle Market		Specialty		MainStreet		Medicare		Corporate and Other		Total
Revenues:
Commissions and fees (1)	$	103,393	$	88,876	$	30,361	$	19,320	$	(1,031)	$	240,919

Operating expenses:
Commissions, employee compensation and benefits (1)	66,303		67,189		17,852		10,889		11,881		174,114
Other operating expenses	16,319		5,746		4,440		3,504		18,051		48,060
Amortization	7,037		9,131		1,730		1,132		8		19,038
Change in fair value of contingent consideration	143		16,707		3,187		479		—		20,516
Depreciation	586		167		251		53		72		1,129
Total operating expenses	90,388		98,940		27,460		16,057		30,012		262,857

Operating income (loss)	13,005		(10,064)		2,901		3,263		(31,043)		(21,938)

Other income (expense):
Interest income (expense), net	46		—		4		—		(7,907)		(7,857)
Other expense, net	(66)		(28)		—		—		(1)		(95)
Total other income (expense)	(20)		(28)		4		—		(7,908)		(7,952)

Income (loss) before income taxes	12,985		(10,092)		2,905		3,263		(38,951)		(29,890)
Income tax benefit	—		—		—		—		(5)		(5)
Net income (loss)	$	12,985	$	(10,092)	$	2,905	$	3,263	$	(38,946)	$	(29,885)

Capital expenditures	$	629	$	77	$	109	$	160	$	4,494	$	5,469
	At December 31, 2020
Total assets	$	1,194,185	$	188,360	$	58,957	$	43,675	$	44,737	$	1,529,914

__________

(1) During the year ended December 31, 2020, the Middle Market Operating Group recorded intercompany commissions and fees revenue from activity with the Specialty Operating Group of $0.5 million; the MainStreet Operating Group recorded intercompany commissions and fees revenue from activity with the Middle Market Operating Group of $0.2 million; and the Medicare Operating group recorded intercompany commissions and fees revenue from activity with itself of $0.3 million. Intercompany commissions and fees and intercompany commissions, employee compensation and benefits expense are eliminated through Corporate and Other.


	For the Year Ended December 31, 2019
(in thousands)	Middle Market		Specialty		MainStreet		Medicare		Corporate and Other		Total
Revenues:
Commissions and fees	$	56,394	$	44,913	$	25,533	$	11,001	$	—	$	137,841

Operating expenses:
Commissions, employee compensation and benefits	37,560		32,505		14,727		5,576		6,587		96,955
Other operating expenses	8,396		3,318		3,888		2,079		6,895		24,576
Amortization	1,861		6,466		1,280		381		19		10,007
Change in fair value of contingent consideration	(1,378)		13,513		(971)		(335)		—		10,829
Depreciation	344		11		81		17		89		542
Total operating expenses	46,783		55,813		19,005		7,718		13,590		142,909

Operating income (loss)	9,611		(10,900)		6,528		3,283		(13,590)		(5,068)
Other income (expense):
Interest income (expense), net	37		(32)		(8)		—		(10,637)		(10,640)
Loss on extinguishment of debt	—		—		—		—		(6,732)		(6,732)
Other income, net	3		—		—		—		—		3
Total other income (expense)	40		(32)		(8)		—		(17,369)		(17,369)

Income (loss) before taxes	9,651		(10,932)		6,520		3,283		(30,959)		(22,437)
Income tax expense	—		—		—		—		17		17
Net income (loss)	$	9,651	$	(10,932)	$	6,520	$	3,283	$	(30,976)	$	(22,454)

Capital expenditures	$	256	$	23	$	417	$	10	$	1,012	$	1,718

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 21
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (f)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

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-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 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.

Use of Estimates

Recently Issued Accounting Pronouncements

Revenue Recognition

The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“Topic 606”).

Commission revenue is recorded net of allowances for estimated policy cancellations, which are determined based on an evaluation of historical and current cancellation data.

Cash and Cash Equivalents

Cash Equivalents

The Company considers all highly liquid short-term instruments with original maturities of three months or less to be cash equivalents.

Restricted Cash

Premiums, Commissions and Fees Receivable, Net

Property and Equipment, Net


						Years
Building						39
Leasehold improvements						3 - 10
Furniture						5 - 7
Office and computer equipment						3 - 7
Website development						7

Intangible Assets, Net and Goodwill

Deferred Financing Costs, Net

Derivative Instruments

Self Insurance Reserve

Self-Insurance Reserve

Leases

Contingent Earnout Liabilities

Redeemable Noncontrolling Interest

Noncontrolling Interest

Income Taxes

Tax Receivable Agreement

Share-based Compensation

Share-Based Compensation

Advisor Incentive Plan

Participation Unit Ownership Plan

Fair Value of Financial Instruments

Fair Value of Financial InstrumentsThe carrying values of the Company’s financial assets and liabilities, including cash and cash equivalents, premiums, commissions and fees receivable, premiums payable to insurance companies and accrued expenses and other current liabilities, approximate their fair values because of the short maturity and liquidity of those instruments.

Concentrations

Business and Basis of Presentation (Tables)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Cumulative Effect from applying Topic 842 on Consolidated Balance Sheets

The cumulative effect of applying Topic 842 on our consolidated balance sheets as of January 1, 2021 was as follows:


(in thousands)	Balances as of December 31, 2020 as Previously Reported		Effect of Adoption of Topic 842		Balances as of January 1, 2021
Assets:
Prepaid expenses and other current assets	$	4,447	$	(169)	$	4,278
Right-of-use assets	—		55,643		55,643
Total assets	1,529,914		55,474		1,585,388
Liabilities:
Accrued expenses and other current liabilities (1)	$	51,490	$	5,783	$	57,273
Operating lease liabilities, non-current	—		48,699		48,699
Total liabilities	759,946		54,482		814,428

__________

Quarterly Financial Data

The following tables summarize the Company’s unaudited consolidated financial data on a quarterly basis for years ended December 31, 2021.


	For the 2021 Quarters Ended
(in thousands)	March 31 (1)		June 30 (1)		September 30 (1)		December 31
Commissions and fees	$	152,828	$	119,706	$	135,556	$	159,200
Total operating expenses	115,878		133,242		152,739		197,057
Operating income (loss)	36,950		(13,536)		(17,183)		(37,857)
Total other expenses	(5,643)		(6,905)		(7,418)		(6,509)
Income (loss) before income taxes	31,307		(20,441)		(24,601)		(44,366)
Income tax expense	—		—		—		19
Net income (loss)	31,307		(20,441)		(24,601)		(44,385)
Net income (loss) attributable to noncontrolling interests	16,001		(10,348)		(11,389)		(21,738)
Net income (loss) attributable to BRP Group, Inc.	$	15,306	$	(10,093)	$	(13,212)	$	(22,647)
Basic earnings (loss) per share	$	0.35	$	(0.23)	$	(0.28)	$	(0.41)
Diluted earnings (loss) per share	0.33		(0.23)		(0.28)		(0.41)

__________

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Property, Plant And Equipment Useful Life Table

For financial reporting purposes, depreciation of property and equipment is calculated using the straight-line method over the estimated useful lives of the assets as follows:


						Years
Building						39
Leasehold improvements						3 - 10
Furniture						5 - 7
Office and computer equipment						3 - 7
Website development						7

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Schedule of Business Acquisitions


(in thousands)	Rogers-Gray		Founder Shield		The Capital Group		K&S Insurance Agency		JGS		WGB		CRP		All Others(1)		Totals
Cash consideration paid	$	135,135	$	20,863	$	28,558	$	79,861	$	155,513	$	101,077	$	131,908	$	64,373	$	717,288
Fair value of contingent earnout consideration	18,976		18,033		10,006		11,273		19,573		14,371		17,852		17,261		127,345
Fair value of equity interest	39,765		14,624		13,393		24,826		44,385		22,553		24,179		10,882		194,607
Deferred payment	1,608		2,985		10,336		22		193		1,274		1,830		4,747		22,995
Total consideration	$	195,484	$	56,505	$	62,293	$	115,982	$	219,664	$	139,275	$	175,769	$	97,263	$	1,062,235

Cash	$	2,674	$	221	$	613	$	2,217	$	335	$	385	$	848	$	4,437	$	11,730
Restricted cash	4,211		3,199		—		—		6,996		1,297		19,188		162		35,053
Premiums, commissions and fees receivable	9,713		3,810		3,940		5,867		12,564		13,785		67,514		4,187		121,380
Property and equipment	1,324		—		—		—		1,431		1,034		203		43		4,035
Other assets	589		52		—		—		282		1,657		—		41		2,621
Intangible assets	76,169		9,402		26,399		53,750		86,078		72,619		82,053		32,908		439,378
Goodwill	109,145		45,810		32,251		59,146		126,696		58,569		85,664		62,164		579,445
Total assets acquired	203,825		62,494		63,203		120,980		234,382		149,346		255,470		103,942		1,193,642
Premiums payable to insurance companies	(5,898)		(5,831)		—		(4,209)		(12,336)		—		(75,133)		(4,511)		(107,918)
Producer commissions payable	(749)		—		(906)		(774)		(481)		(3,369)		(17)		(555)		(6,851)
Accrued expenses and other current liabilities	(1,694)		(158)		(4)		(15)		(1,901)		(6,702)		(4,551)		(1,613)		(16,638)
Total liabilities acquired	(8,341)		(5,989)		(910)		(4,998)		(14,718)		(10,071)		(79,701)		(6,679)		(131,407)
Net assets acquired	$	195,484	$	56,505	$	62,293	$	115,982	$	219,664	$	139,275	$	175,769	$	97,263	$	1,062,235

Maximum potential contingent earnout consideration	$	72,446	$	77,554	$	29,888	$	51,426	$	91,425	$	49,628	$	99,455	$	73,338	$	545,160

__________

Schedule of Weighted-Average Useful Lives of Intangible Assets Acquired in Business Combinations

The intangible assets acquired in connection with business combinations during the year ended December 31, 2021 have an estimated weighted-average life as follows:


(in thousands)	Amount	Weighted-Average Life
Purchased customer accounts	350,313	19.4	years
Distributor relationships	68,241	20.0	years
Software	10,918	4.6	years
Trade names	9,906	5.0	years

Unaudited Pro Forma Consolidated Results of Operations for Business Combinations


	For the Years Ended December 31,
(unaudited) (in thousands, except per share data)	2021		2020
Pro forma results:
Total revenues	$	719,320	$	429,953
Net loss	(34,667)		(34,907)
Net loss attributable to BRP Group, Inc.	(19,147)		(17,613)

Basic and diluted loss per share	$	(0.40)	(0.62)
Weighted-average shares of Class A common stock outstanding - basic and diluted	48,222		28,225

__________

Revenue (Tables)

12 Months Ended

Dec. 31, 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 Years Ended December 31,
(in thousands)	2021		2020		2019
Direct bill revenue (1)	$	269,603	$	104,875	$	70,835
Agency bill revenue (2)	202,892		91,662		43,619
Profit-sharing revenue (3)	37,392		16,397		9,598
Consulting and service fee revenue (4)	29,047		3,509		2,709
Policy fee and installment fee revenue (5)	19,858		15,236		8,154
Other income (6)	8,498		9,240		2,926
Total commissions and fees	$	567,290	$	240,919	$	137,841

__________

(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) Service fee revenue is earned by receiving negotiated fees in lieu of a commission and consulting revenue is earned by providing specialty insurance consulting.

Contract Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 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 were as follows:


	December 31,
(in thousands)	2021		2020
Contract assets	$	168,550	$	80,213
Contract liabilities	18,178		11,606

Deferred Commission Expense (Tables)

12 Months Ended

Dec. 31, 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 the Years Ended December 31,
(in thousands)	2021		2020
Balance at beginning of year	$	4,751	$	3,621
Costs capitalized	8,812		2,528
Amortization	(2,227)		(1,398)
Balance at end of year	$	11,336	$	4,751

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, Net

Property and equipment, net consists of the following:


	December 31,
(in thousands)	2021		2020
Leasehold improvements	$	7,967	$	5,297
Office and computer equipment	9,151		4,263
Furniture	3,970		2,845
Building	400		400
Website development	184		16
Land	100		100
Construction in process	—		83
Total property and equipment	21,772		13,004
Accumulated depreciation	(4,298)		(1,985)
Property and equipment, net	$	17,474	$	11,019

Intangible Assets, Net and Goodwill (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets consist of the following:


	December 31, 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)	$	851,445	$	(54,481)	$	796,964	$	501,512	$	(18,604)	$	482,908
Distributor relationships	100,621		(3,814)		96,807		32,380		(1,377)		31,003
Software	41,743		(18,265)		23,478		30,828		(10,801)		20,027
Trade names (1)	24,189		(3,583)		20,606		14,439		(932)		13,507
Carrier relationships	7,859		(1,247)		6,612		7,859		(984)		6,875
Totals	$	1,025,857	$	(81,390)	$	944,467	$	587,018	$	(32,698)	$	554,320

__________

Schedule of Future Amortization Expense for Intangible Assets

Future annual estimated amortization expense over the next five years for intangible assets is as follows (in thousands):


For the Years Ending December 31,	Amortization
2022	$	70,174
2023	71,268
2024	67,213
2025	65,627
2026	60,788

Schedule of Goodwill

The changes in carrying value of goodwill by Operating Group for the periods are as follows:


(in thousands)	Middle Market		Specialty		MainStreet		Medicare		Total
Balance at December 31, 2019	$	52,932	$	60,115	$	38,892	$	12,531	$	164,470
Goodwill of acquired businesses	473,926		5,204		—		7,902		487,032
Balance at December 31, 2020	526,858		65,319		38,892		20,433		651,502
Goodwill of acquired businesses	376,475		198,699		—		4,271		579,445
Measurement period adjustments (1)	(2,206)		—		—		—		(2,206)
Balance at December 31, 2021	$	901,127	$	264,018	$	38,892	$	24,704	$	1,228,741

__________

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following:


	December 31,
(in thousands)	2021		2020
Accrued compensation and benefits	$	22,460	$	10,826
Contract liabilities	18,178		11,606
Current portion of operating lease liabilities	12,520		—
Deferred consideration payments	12,355		8,155
Accrued expenses	9,731		13,032
Current portion of long-term debt	8,521		4,000
Tax distribution payable	5,072		—
Other	3,386		3,871
Accrued expenses and other current liabilities	$	92,223	$	51,490

Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Maturities of Long-term Debt

Future annual maturities of the Term Loan B are as follows as of December 31, 2021:


(in thousands)	Amount
Payments for the years ending December 31,
2022	$	8,521
2023	8,521
2024	8,521
2025	8,521
2026	8,521
Thereafter	804,018
Total long-term debt	846,623
Less: unamortized debt discount and issuance costs	(23,488)
Net long-term debt	$	823,135

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Schedule of Assets and Liabilities Related to Operating Leases

Operating lease right-of-use assets and lease liabilities as of December 31, 2021 and January 1, 2021 (the date of adoption of Topic 842) were as follows:


(in thousands)	December 31, 2021		January 1, 2021
Assets:
Right-of-use assets, operating, net	$	81,646	$	55,643

Liabilities:
Operating lease liabilities, current portion	$	12,520	$	7,668
Operating lease liabilities, non-current	71,357		48,699
Total	$	83,877	$	56,367

Schedule of Lease Costs and Other Information Related to Leases

The components of the lease costs for the year ended December 31, 2021 were as follows:


(in thousands)	December 31, 2021
Operating lease costs	$	13,086
Variable lease costs	2,853

Supplemental cash flow information relating to our leases for the year ended December 31, 2021 was as follows (in thousands):


(in thousands)	December 31, 2021
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows used in operating leases	$	11,562

Operating lease non-cash items:
Right-of-use assets obtained in exchange for operating lease liabilities	$	86,524
Right-of-use assets increased through lease modifications and reassessments	6,131

Weighted average remaining lease terms and discount rates at December 31, 2021 were as follows:

(in thousands)

December 31, 2021

Operating Leases:

Remaining lease term

6.6 years

Discount rate

3.6

Schedule of Future Minimum Rental Payments for Operating Leases Post Adoption of Topic 842

Future minimum lease payments under non-cancelable operating lease agreements at December 31, 2021 were as follows:


(in thousands)	Minimum Lease Payments
For the years ending December 31,
2022	$	15,285
2023	14,134
2024	13,862
2025	12,556
2026	11,017
Thereafter	28,665
Total minimum lease payments	95,519
Less: amounts representing interest or imputed interest	(11,642)
Present value of lease liabilities	$	83,877

Schedule of Future Minimum Rental Payments for Operating Leases Prior to Adoption of Topic 842


(in thousands)	Minimum Lease Payments
For the years ending December 31,
2021	$	11,128
2022	9,477
2023	8,121
2024	7,489
2025	6,535
Thereafter	19,010
Total minimum lease payments	$	61,760

Stockholders' Equity (Deficit) and Noncontrolling Interest (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Rollforward of Common Stock Outstanding since the Initial Public Offering

The following table shows a rollforward of our common stock outstanding since the Initial Public Offering:


	Class A Common Stock	Class B Common Stock
Shares issued at October 28, 2019	—	—
Shares issued to the public in the Initial Public Offering	18,859,300	—
Shares issued for the Voting Common Units of two minority founders	—	5,701,107
Shares issued in exchange for Villages Units	—	3,077,559
Shares issued in exchange for Rollover Members’ Units	—	9,615,911
Shares issued for Majority Founder’s Units	—	18,933,907
Shares issued for Non-Voting Common Units	—	232,596
Shares issued for Management Incentive Units	—	5,627,155
Restricted stock grants in connection with Initial Public Offering	500,930	—
Restricted stock grants subsequent to the Initial Public Offering	2,754	—
Shares issued to executive officer	—	69,503
Shares issued at December 31, 2019	19,362,984	43,257,738
Shares issued to the public in follow-on offerings	23,287,500	—
Shares redeemed in connection with follow-on offerings	—	(4,091,667)
Shares issued in connection with Partnerships	1,415,837	11,004,696
Redemption of Class B shares of common stock for Class A shares	253,599	(253,599)
Restricted stock grants under Omnibus Plan, net of forfeitures and shares withheld for taxes	633,246	—
Shares repurchased	—	(88,785)
Shares issued at December 31, 2020	44,953,166	49,828,383
Shares issued to the public in follow-on offerings	9,200,000	—
Shares issued in connection with Partnerships	1,053,190	7,441,139
Common stock and restricted stock grants under Incentive Plan, net of forfeitures and shares withheld for taxes	1,558,694	—
Common stock and restricted stock grants under Omnibus Plan, net of forfeitures and shares withheld for taxes	906,338	—
Redemption of Class B shares of common stock for Class A shares	931,471	(931,471)
Shares issued at December 31, 2021	58,602,859	56,338,051

Schedule of Ownership Interest by Noncontrolling Interest

The following table summarizes the ownership interest in BRP:


	December 31, 2021			December 31, 2020
	Units	Percentage		Units	Percentage
Interest in BRP held by BRP Group	58,602,859	51	%	44,953,166	47	%
Noncontrolling interest in BRP held by BRP’s LLC Members	56,338,051	49	%	49,828,383	53	%
Total	114,940,910	100	%	94,781,549	100	%

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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+ Details

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Activity for Non-Vested Awards Granted under the Omnibus Plan

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 January 1, 2019	—	—
Granted	503,684	$	14.00
Vested and settled	(173,440)	13.99
Outstanding at December 31, 2019	330,244	14.00
Granted	709,426	15.79
Vested and settled	(175,372)	12.09
Forfeited	(38,271)	14.40
Outstanding at December 31, 2020	826,027	15.92
Granted	2,758,207	31.72
Vested and settled	(279,494)	21.33
Forfeited	(89,009)	22.25
Outstanding at December 31, 2021	3,215,731	28.83
Non-vested shares expected to vest as of December 31, 2021	2,533,446	28.80

Schedule of Non-Vested Shares of Class B Common Stock related to Management Incentive Plan Expected to Vest

The following table summarizes the number of non-vested shares of Class B common stock related to the MIU Plan that are expected to vest in each of the following years:


For the Years Ending December 31,						Class B Shares
2022						450,744
2023						429,747

Schedule of Activity for Awards Granted under the Management Incentive Units Plan

The following table summarizes the activity for awards granted by the Company under the MIU Plan:


	Shares	Weighted-Average Grant-Date Fair Value Per Share		Weighted-Average Contractual Term (in years)
Outstanding at January 1, 2019	720,180	$	3.15	1.90
Granted	475,900	7.34
Forfeited	(40,000)	2.97
Exchanged for options	(10,000)	2.97
Exchanged for Class B common stock	(1,146,080)	4.90
Outstanding at December 31, 2019	—	—		—

Schedule of Valuation Assumptions

The assumptions noted in the table below represent the weighted average of each assumption for each grant during the year.


	For the Year Ended December 31, 2019
Expected volatility	26.1	%
Expected dividend yield	0.2	%
Expected life (in years)	7.0
Risk-free interest rate	3.1	%

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

Components of income tax expense (benefit) include the following:


	For the Years Ended December 31,
(in thousands)	2021		2020		2019
Current
Federal	$	11	$	—	$	13
State and local	3		—		4
Total tax expense (benefit)	$	14	$	—	$	17

Deferred
Federal	$	4	$	(4)	$	—
State and local	1		(1)		—
Total deferred income tax benefit	5		(5)		—
Total tax expense (benefit)	$	19	$	(5)	$	17

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense (benefit) at the Company’s effective tax rate differed from the statutory tax rate as follows:


	For the Years Ended December 31,
(in thousands)	2021		2020		2019
Loss before income taxes	$	(58,101)	$	(29,890)	$	(22,437)

Noncontrolling interest	7,072		4,415		3,138
Tax provision at statutory rate (21%)	(12,201)		(6,280)		(4,712)
Effect of:
Valuation allowance	6,942		3,383		2,228
State and local income tax	(2,403)		(1,215)		(1,064)
Share-based compensation	(467)		(175)		—
MIU issuance	452		22		328
IRC 162(m)	435		—		—
Meals and entertainment	86		110		79
State rate change	(12)		(206)		—
True-up and adjustments	3		(157)		—
Other	112		98		20
Total income tax expense (benefit)	$	19	$	(5)	$	17

Schedule of Deferred Tax Assets and Liabilities

The following table summarizes the components of deferred tax assets and liabilities:


	December 31,
(in thousands)	2021		2020
Deferred tax assets
Investment in Partnerships	$	75,368	$	50,364
Net operating loss	6,018		2,216
Capitalized transaction costs	2,304		2,477
Charitable contributions	143		—
163(j) limitation carryforward	38		—
Total deferred tax assets	83,871		55,057
Valuation allowance	(83,871)		(55,057)
Net deferred tax assets	$	—	$	—

Earnings (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted


	For the Years Ended December 31,				October 28, 2019 through December 31, 2019
(in thousands, except per share data)	2021		2020
Basic and diluted net loss per share:
Net loss attributable to BRP Group, Inc.	$	(30,646)	$	(15,696)	$	(8,650)
Shares used for basic net loss per share:
Basic and diluted weighted-average shares of Class A common stock outstanding	47,588		27,176		17,917
Basic and diluted net loss per share	$	(0.64)	$	(0.58)	$	(0.48)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value by Balance Sheet Grouping

The following table summarizes Company’s assets and liabilities measured at fair value on a recurring basis within each level of the fair value hierarchy:


	December 31,
(in thousands)	2021		2020
Level 2
Interest Rate Caps	$	6,338	$	—
Level 2 Assets	$	6,338	$	—
Level 3
Contingent earnout liabilities	$	258,589	$	164,819
Level 3 Liabilities	$	258,589	$	164,819

Schedule of Changes in Assets and Liabilities Measured at Fair Value on a Recurring Basis


	For the Years Ended December 31,
	2021		2020
(in thousands)	Contingent Earnout Liabilities		Contingently Returnable Consideration(1)		Contingent Earnout Liabilities
Balance at beginning of year	$	164,819	$	70	$	48,769
Fair value of contingent consideration issuances (2)	122,622		—		98,523
Change in fair value of contingent consideration	45,196		(70)		20,446
Settlement of contingent consideration (3)	(74,048)		—		(2,919)
Balance at end of year	$	258,589	$	—	$	164,819

__________

(1) There was no contingently returnable consideration at December 31, 2021 or 2020.

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Summarized Financial Information by Operating Group


	For the Year Ended December 31, 2021
(in thousands)	Middle Market		Specialty		MainStreet		Medicare		Corporate and Other		Total
Revenues:
Commissions and fees (1)	$	363,822	$	144,455	$	34,344	$	27,392	$	(2,723)	$	567,290

Operating expenses:
Commissions, employee compensation and benefits (1)	234,652		102,824		22,884		16,309		23,381		400,050
Other operating expenses	50,037		13,716		4,970		5,289		28,150		102,162
Amortization	34,056		11,326		1,617		1,716		5		48,720
Change in fair value of contingent consideration	32,735		11,881		926		(346)		—		45,196
Depreciation	1,483		184		255		90		776		2,788
Total operating expenses	352,963		139,931		30,652		23,058		52,312		598,916

Operating income (loss)	10,859		4,524		3,692		4,334		(55,035)		(31,626)

Other income (expense):
Interest income (expense), net	(150)		(2)		—		1		(26,748)		(26,899)
Other income (expense), net	573		(38)		—		(4)		(107)		424
Total other income (expense)	423		(40)		—		(3)		(26,855)		(26,475)

Income (loss) before income taxes	11,282		4,484		3,692		4,331		(81,890)		(58,101)
Income tax expense	—		—		—		—		19		19
Net income (loss)	$	11,282	$	4,484	$	3,692	$	4,331	$	(81,909)	$	(58,120)

Capital expenditures	$	949	$	590	$	99	$	92	$	3,591	$	5,321
	At December 31, 2021
Total assets	$	2,142,485	$	549,662	$	61,322	$	56,472	$	66,366	$	2,876,307

__________


	For the Year Ended December 31, 2020
(in thousands)	Middle Market		Specialty		MainStreet		Medicare		Corporate and Other		Total
Revenues:
Commissions and fees (1)	$	103,393	$	88,876	$	30,361	$	19,320	$	(1,031)	$	240,919

Operating expenses:
Commissions, employee compensation and benefits (1)	66,303		67,189		17,852		10,889		11,881		174,114
Other operating expenses	16,319		5,746		4,440		3,504		18,051		48,060
Amortization	7,037		9,131		1,730		1,132		8		19,038
Change in fair value of contingent consideration	143		16,707		3,187		479		—		20,516
Depreciation	586		167		251		53		72		1,129
Total operating expenses	90,388		98,940		27,460		16,057		30,012		262,857

Operating income (loss)	13,005		(10,064)		2,901		3,263		(31,043)		(21,938)

Other income (expense):
Interest income (expense), net	46		—		4		—		(7,907)		(7,857)
Other expense, net	(66)		(28)		—		—		(1)		(95)
Total other income (expense)	(20)		(28)		4		—		(7,908)		(7,952)

Income (loss) before income taxes	12,985		(10,092)		2,905		3,263		(38,951)		(29,890)
Income tax benefit	—		—		—		—		(5)		(5)
Net income (loss)	$	12,985	$	(10,092)	$	2,905	$	3,263	$	(38,946)	$	(29,885)

Capital expenditures	$	629	$	77	$	109	$	160	$	4,494	$	5,469
	At December 31, 2020
Total assets	$	1,194,185	$	188,360	$	58,957	$	43,675	$	44,737	$	1,529,914

__________


	For the Year Ended December 31, 2019
(in thousands)	Middle Market		Specialty		MainStreet		Medicare		Corporate and Other		Total
Revenues:
Commissions and fees	$	56,394	$	44,913	$	25,533	$	11,001	$	—	$	137,841

Operating expenses:
Commissions, employee compensation and benefits	37,560		32,505		14,727		5,576		6,587		96,955
Other operating expenses	8,396		3,318		3,888		2,079		6,895		24,576
Amortization	1,861		6,466		1,280		381		19		10,007
Change in fair value of contingent consideration	(1,378)		13,513		(971)		(335)		—		10,829
Depreciation	344		11		81		17		89		542
Total operating expenses	46,783		55,813		19,005		7,718		13,590		142,909

Operating income (loss)	9,611		(10,900)		6,528		3,283		(13,590)		(5,068)
Other income (expense):
Interest income (expense), net	37		(32)		(8)		—		(10,637)		(10,640)
Loss on extinguishment of debt	—		—		—		—		(6,732)		(6,732)
Other income, net	3		—		—		—		—		3
Total other income (expense)	40		(32)		(8)		—		(17,369)		(17,369)

Income (loss) before taxes	9,651		(10,932)		6,520		3,283		(30,959)		(22,437)
Income tax expense	—		—		—		—		17		17
Net income (loss)	$	9,651	$	(10,932)	$	6,520	$	3,283	$	(30,976)	$	(22,454)

Capital expenditures	$	256	$	23	$	417	$	10	$	1,012	$	1,718

Business and Basis of Presentation - Cumulative Effect from applying Topic 842 on Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Assets:
Prepaid expenses and other current assets	$ 8,151	$ 4,278	$ 4,447
Right-of-use assets	81,646	55,643	0
Total assets	2,876,307	1,585,388	1,529,914
Liabilities:
Accrued expenses and other current liabilities	92,223	57,273	51,490
Operating lease liabilities, non-current	71,357	48,699	0
Liabilities	1,688,751	814,428	759,946
Current portion of operating lease liabilities	$ 12,520	7,668	0
Previously Reported
Assets:
Prepaid expenses and other current assets			4,447
Right-of-use assets			0
Total assets			1,529,914
Liabilities:
Accrued expenses and other current liabilities			51,490
Operating lease liabilities, non-current			0
Liabilities			$ 759,946
Revision of Prior Period, Accounting Standards Update, Adjustment
Assets:
Prepaid expenses and other current assets		(169)
Right-of-use assets		55,643
Total assets		55,474
Liabilities:
Accrued expenses and other current liabilities		5,783
Operating lease liabilities, non-current		48,699
Liabilities		54,482
Deferred rent liabilities		(1,900)
Current portion of operating lease liabilities		$ 7,700

Business and Basis of Presentation - Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Commissions and fees	$ 159,200	$ 135,556	$ 119,706	$ 152,828	$ 567,290	$ 240,919	$ 137,841
Total operating expenses	197,057	152,739	133,242	115,878	598,916	262,857	142,909
Operating income (loss)	(37,857)	(17,183)	(13,536)	36,950	(31,626)	(21,938)	(5,068)
Total other expenses	(6,509)	(7,418)	(6,905)	(5,643)	(26,475)	(7,952)	(17,369)
Loss before income taxes	44,366	24,601	20,441	(31,307)	58,101	29,890	22,437
Income tax expense (benefit)	19	0	0	0	19	(5)	17
Net loss	44,385	24,601	20,441	(31,307)	58,120	29,885	22,454
Less: net loss attributable to noncontrolling interests	(21,738)	(11,389)	(10,348)	16,001	(27,474)	(14,189)	(13,804)
Net loss attributable to BRP Group, Inc.	$ (22,647)	$ (13,212)	$ (10,093)	$ 15,306	$ (30,646)	$ (15,696)	$ (8,650)
Basic earnings (loss) per share (in dollars per share)	$ (0.41)	$ (0.28)	$ (0.23)	$ 0.35
Diluted earnings (loss) per share (in dollars per share)	$ (0.41)	$ (0.28)	$ (0.23)	$ 0.33
Revision of Prior Period, Accounting Standards Update, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total operating expenses		$ 400	$ 300	$ (700)
Loss before income taxes		400	300	(700)
Net loss		$ 400	$ 300	$ (700)
Basic earnings (loss) per share (in dollars per share)			$ (0.01)	$ 0.02
Diluted earnings (loss) per share (in dollars per share)			$ (0.01)	$ 0.01

Significant Accounting Policies Property and Equipment Useful Life Table (Details)	12 Months Ended
	Dec. 31, 2021
Building
Property, Plant and Equipment [Line Items]
Useful life (in years)	39 years
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	3 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	10 years
Office and computer equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	3 years
Office and computer equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	7 years
Furniture \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	5 years
Furniture \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	7 years
Website development
Property, Plant and Equipment [Line Items]
Useful life (in years)	7 years

Reorganization Transactions (Details) $ in Thousands			12 Months Ended
Reorganization Transactions (Details) $ in Thousands	Sep. 17, 2021 shares	Oct. 28, 2019 USD ($) minority_founder shares	Dec. 31, 2021	Dec. 31, 2020 shares
Class of Stock [Line Items]
Income tax benefit, percentage of benefit payable to noncontrolling owners		85.00%	85.00%
Class A Common Stock
Class of Stock [Line Items]
Restricted stock grants (in shares)				633,246
Class B Common Stock
Class of Stock [Line Items]
Restricted stock grants (in shares)				0
IPO \| BRP Group, Inc. Omnibus Incentive Plan, Obligation Settlement with Advisor Incentive Plan
Class of Stock [Line Items]
Stockholders notes receivable \| $		$ 500
IPO \| BRP Group, Inc. Omnibus Incentive Plan, Obligation Settlement with Advisor Incentive Plan \| Class A Common Stock
Class of Stock [Line Items]
Restricted stock grants (in shares)		204,807
Restricted stock grants, value \| $		$ 2,200
IPO \| BRP Group, Inc. Omnibus Incentive Plan, Obligation Settlement with Participation Unit Ownership Plan \| Class A Common Stock
Class of Stock [Line Items]
Restricted stock grants (in shares)		22,243
Restricted stock grants, value \| $		$ 300
Additional Paid-in Capital \| IPO \| BRP Group, Inc. Omnibus Incentive Plan, Obligation Settlement with Advisor Incentive Plan \| Class A Common Stock
Class of Stock [Line Items]
Restricted stock grants, value \| $		(2,600)
Additional Paid-in Capital \| IPO \| BRP Group, Inc. Omnibus Incentive Plan, Obligation Settlement with Participation Unit Ownership Plan \| Class A Common Stock
Class of Stock [Line Items]
Restricted stock grants, value \| $		$ (300)
Voting Common Units \| Class B Common Stock
Class of Stock [Line Items]
Shares issued in conversion (in shares)		5,701,107
Call rights to minority founders (in minority founders) \| minority_founder		2
Village Units \| Class B Common Stock
Class of Stock [Line Items]
Shares issued in conversion (in shares)		3,077,559
Rollover Member Units \| Class B Common Stock
Class of Stock [Line Items]
Shares issued in conversion (in shares)		9,615,911
Majority Founder Units \| Class B Common Stock
Class of Stock [Line Items]
Shares issued in conversion (in shares)		18,933,907
Non-Voting Common Units \| Class B Common Stock
Class of Stock [Line Items]
Shares issued in conversion (in shares)		232,596
Management Incentive Units \| Class B Common Stock
Class of Stock [Line Items]
Shares issued in conversion (in shares)		5,627,155
Baldwin Risk Partners, LLC \| Member Units
Class of Stock [Line Items]
Shares issued in conversion (in shares)	9,200,000	14,000,000
Lowry Baldwin \| Member Units
Class of Stock [Line Items]
Shares issued in conversion (in shares)		1,800,000
Village Invesco, LLC \| Member Units
Class of Stock [Line Items]
Shares issued in conversion (in shares)		600,000

Business Combinations - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) numberOfBusinessCombinations
Business Acquisition [Line Items]
Number of Businesses Acquired \| numberOfBusinessCombinations	16
Total consideration	$ 1,062,235
Goodwill Amortization Period, Income Tax Basis	15 years
Total revenues recognized from business combinations	$ 61,000
Net income recognized from business combinations	2,800
Acquisition related costs incurred	$ 5,900
LeaseTrack
Business Acquisition [Line Items]
Effective date of acquisition	Feb. 01, 2021
Medicare Help Now
Business Acquisition [Line Items]
Effective date of acquisition	Mar. 01, 2021
Only Medicare Solutions
Business Acquisition [Line Items]
Effective date of acquisition	Apr. 01, 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
RogersGray
Business Acquisition [Line Items]
Effective date of acquisition	Jul. 01, 2021
EBSME
Business Acquisition [Line Items]
Effective date of acquisition	Jul. 30, 2021
FounderShield
Business Acquisition [Line Items]
Total consideration	$ 56,505
Effective date of acquisition	Aug. 02, 2021
The Capital Group
Business Acquisition [Line Items]
Total consideration	$ 62,293
Effective date of acquisition	Aug. 02, 2021
River Oak Risk
Business Acquisition [Line Items]
Effective date of acquisition	Aug. 04, 2021
K&S Insurance
Business Acquisition [Line Items]
Total consideration	$ 115,982
Effective date of acquisition	Oct. 01, 2021
JGS
Business Acquisition [Line Items]
Total consideration	$ 219,664
Effective date of acquisition	Oct. 01, 2021
WGB
Business Acquisition [Line Items]
Total consideration	$ 139,275
Effective date of acquisition	Dec. 01, 2021
CRP
Business Acquisition [Line Items]
Total consideration	$ 175,769
Effective date of acquisition	Dec. 01, 2021
Brush Creek Partners
Business Acquisition [Line Items]
Effective date of acquisition	Dec. 07, 2021
Arcana
Business Acquisition [Line Items]
Effective date of acquisition	Dec. 07, 2021

Business Combinations - Schedule of Business Acquisitions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid	$ 717,288
Fair value of contingent earnout consideration	127,345
Fair value of equity interest	194,607
Business Combination, Consideration Transferred, Assets Recorded, Contingently Returnable Consideration	0	$ 0	$ (321)
Deferred payment	22,995
Total consideration	1,062,235
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash	11,730
Restricted cash	35,053
Premiums, commissions and fees receivable	121,380
Property and equipment	4,035
Other assets	2,621
Intangible assets	439,378
Goodwill	579,445
Total assets acquired	1,193,642
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums payable to insurance companies	(107,918)
Producer commissions payable	(6,851)
Accrued expenses and other current liabilities	(16,638)
Total liabilities acquired	(131,407)
Net assets acquired	1,062,235
Rogers Gray
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid	135,135
Fair value of contingent earnout consideration	18,976
Fair value of equity interest	39,765
Deferred payment	1,608
Total consideration	195,484
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash	2,674
Restricted cash	4,211
Premiums, commissions and fees receivable	9,713
Property and equipment	1,324
Other assets	589
Intangible assets	76,169
Goodwill	109,145
Total assets acquired	203,825
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums payable to insurance companies	(5,898)
Producer commissions payable	(749)
Accrued expenses and other current liabilities	(1,694)
Total liabilities acquired	(8,341)
Net assets acquired	195,484
Maximum potential contingent earnout consideration	72,446
FounderShield
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid	20,863
Fair value of contingent earnout consideration	18,033
Fair value of equity interest	14,624
Deferred payment	2,985
Total consideration	56,505
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash	221
Restricted cash	3,199
Premiums, commissions and fees receivable	3,810
Property and equipment	0
Other assets	52
Intangible assets	9,402
Goodwill	45,810
Total assets acquired	62,494
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums payable to insurance companies	(5,831)
Producer commissions payable	0
Accrued expenses and other current liabilities	(158)
Total liabilities acquired	(5,989)
Net assets acquired	56,505
Maximum potential contingent earnout consideration	77,554
The Capital Group
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid	28,558
Fair value of contingent earnout consideration	10,006
Fair value of equity interest	13,393
Deferred payment	10,336
Total consideration	62,293
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash	613
Restricted cash	0
Premiums, commissions and fees receivable	3,940
Property and equipment	0
Other assets	0
Intangible assets	26,399
Goodwill	32,251
Total assets acquired	63,203
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums payable to insurance companies	0
Producer commissions payable	(906)
Accrued expenses and other current liabilities	(4)
Total liabilities acquired	(910)
Net assets acquired	62,293
Maximum potential contingent earnout consideration	29,888
K&S Insurance
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid	79,861
Fair value of contingent earnout consideration	11,273
Fair value of equity interest	24,826
Deferred payment	22
Total consideration	115,982
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash	2,217
Restricted cash	0
Premiums, commissions and fees receivable	5,867
Property and equipment	0
Other assets	0
Intangible assets	53,750
Goodwill	59,146
Total assets acquired	120,980
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums payable to insurance companies	(4,209)
Producer commissions payable	(774)
Accrued expenses and other current liabilities	(15)
Total liabilities acquired	(4,998)
Net assets acquired	115,982
Maximum potential contingent earnout consideration	51,426
JGS
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid	155,513
Fair value of contingent earnout consideration	19,573
Fair value of equity interest	44,385
Deferred payment	193
Total consideration	219,664
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash	335
Restricted cash	6,996
Premiums, commissions and fees receivable	12,564
Property and equipment	1,431
Other assets	282
Intangible assets	86,078
Goodwill	126,696
Total assets acquired	234,382
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums payable to insurance companies	(12,336)
Producer commissions payable	(481)
Accrued expenses and other current liabilities	(1,901)
Total liabilities acquired	(14,718)
Net assets acquired	219,664
Maximum potential contingent earnout consideration	91,425
WGB
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid	101,077
Fair value of contingent earnout consideration	14,371
Fair value of equity interest	22,553
Deferred payment	1,274
Total consideration	139,275
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash	385
Restricted cash	1,297
Premiums, commissions and fees receivable	13,785
Property and equipment	1,034
Other assets	1,657
Intangible assets	72,619
Goodwill	58,569
Total assets acquired	149,346
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums payable to insurance companies	0
Producer commissions payable	(3,369)
Accrued expenses and other current liabilities	(6,702)
Total liabilities acquired	(10,071)
Net assets acquired	139,275
Maximum potential contingent earnout consideration	49,628
CRP
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid	131,908
Fair value of contingent earnout consideration	17,852
Fair value of equity interest	24,179
Deferred payment	1,830
Total consideration	175,769
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash	848
Restricted cash	19,188
Premiums, commissions and fees receivable	67,514
Property and equipment	203
Other assets	0
Intangible assets	82,053
Goodwill	85,664
Total assets acquired	255,470
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums payable to insurance companies	(75,133)
Producer commissions payable	(17)
Accrued expenses and other current liabilities	(4,551)
Total liabilities acquired	(79,701)
Net assets acquired	175,769
Maximum potential contingent earnout consideration	99,455
All Others
Business Combination, Consideration Transferred [Abstract]
Cash consideration paid	64,373
Fair value of contingent earnout consideration	17,261
Fair value of equity interest	10,882
Deferred payment	4,747
Total consideration	97,263
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash	4,437
Restricted cash	162
Premiums, commissions and fees receivable	4,187
Property and equipment	43
Other assets	41
Intangible assets	32,908
Goodwill	62,164
Total assets acquired	103,942
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Premiums payable to insurance companies	(4,511)
Producer commissions payable	(555)
Accrued expenses and other current liabilities	(1,613)
Total liabilities acquired	(6,679)
Net assets acquired	97,263
Maximum potential contingent earnout consideration	73,338
2021 Business Acquisitions
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Maximum potential contingent earnout consideration	$ 545,160

Business Combinations - Schedule of Weighted-Average Lives of Intangible Assets Acquired in Business Combinations (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 439,378
Purchased customer accounts (1)
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 350,313
Weighted Average Life	19 years 4 months 24 days
Software
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 10,918
Weighted Average Life	4 years 7 months 6 days
Trade names (1)
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 9,906
Weighted Average Life	5 years
Distributor relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 68,241
Weighted Average Life	20 years

Business Combinations - Schedule of Pro Forma Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition, Pro Forma Information [Abstract]
Total revenues	$ 719,320	$ 429,953
Net loss	(34,667)	(34,907)
Net loss attributable to BRP Group, Inc.	$ (19,147)	$ (17,613)
Basic loss per share	$ (0.40)	$ (0.62)
Diluted loss per share	$ (0.40)	$ (0.62)
Weighted-average shares of Class A common stock outstanding - basic	48,222	28,225
Weighted-average shares of Class A common stock outstanding - diluted	48,222	28,225

Variable Interest Entities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Net income (loss)	$ (44,385)	$ (24,601)	$ (20,441)	$ 31,307	$ (58,120)	$ (29,885)	$ (22,454)
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Revenues					1,000	800	600
Net income (loss)					$ 600	$ 700	$ 700

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
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+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Total commissions and fees	$ 159,200	$ 135,556	$ 119,706	$ 152,828	$ 567,290	$ 240,919	$ 137,841
Capitalized Contract Cost, Amortization Period	5 years				5 years
Direct Bill Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees					$ 269,603	104,875	70,835
Agency Bill Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees					202,892	91,662	43,619
Profit Sharing Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees					37,392	16,397	9,598
Policy Fee and Installment Fee Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees					19,858	15,236	8,154
Consulting and Service Fee Revenue
Disaggregation of Revenue [Line Items]
Commissions and fees					29,047	3,509	2,709
Other Income
Disaggregation of Revenue [Line Items]
Commissions and fees					$ 8,498	$ 9,240	$ 2,926

Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Contract assets	$ 168,550	$ 80,213
Contract liabilities	$ 18,178	$ 11,606

Contract Assets and Liabilities - Additional Information (Details) - USD ($) $ in Millions		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Revenue recognized related to contract liabilities		$ 11.6
Contract assets related to current year business combinations	$ 26.0
Contract liabilities related to current year business combinations	$ 3.9

Schedule of Deferred Commission Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule of Deferred Commission Expense [Roll Forward]
Balance at beginning of year	$ 4,751	$ 3,621
Costs capitalized	8,812	2,528
Amortization	(2,227)	(1,398)
Balance at end of year	$ 11,336	$ 4,751

Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 21,772	$ 13,004
Accumulated depreciation	(4,298)	(1,985)
Property and equipment, net	17,474	11,019
Depreciation expense	2,788	1,129	$ 542
Office and computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	9,151	4,263
Furniture
Property, Plant and Equipment [Line Items]
Total property and equipment	3,970	2,845
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	7,967	5,297
Construction in process
Property, Plant and Equipment [Line Items]
Total property and equipment	0	83
Building
Property, Plant and Equipment [Line Items]
Total property and equipment	400	400
Website development
Property, Plant and Equipment [Line Items]
Total property and equipment	184	16
Land
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 100	$ 100

Property and Equipment, Net Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2,788	$ 1,129	$ 542

Intangible Assets, Net and Goodwill - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets acquired in asset acquisitions	$ 4,200	$ 2,400
Amortization for intangible assets	$ 48,720	$ 19,038	$ 10,007

Intangible Assets, Net and Goodwill - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 1,025,857	$ 587,018
Accumulated Amortization	(81,390)	(32,698)
Net Carrying Value	944,467	554,320
Purchased customer accounts (1)
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	851,445	501,512
Accumulated Amortization	(54,481)	(18,604)
Net Carrying Value	796,964	482,908
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles	4,600
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	41,743	30,828
Accumulated Amortization	(18,265)	(10,801)
Net Carrying Value	23,478	20,027
Carrier relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	7,859	7,859
Accumulated Amortization	(1,247)	(984)
Net Carrying Value	6,612	6,875
Trade names (1)
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	24,189	14,439
Accumulated Amortization	(3,583)	(932)
Net Carrying Value	20,606	13,507
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles	200
Distributor relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	100,621	32,380
Accumulated Amortization	(3,814)	(1,377)
Net Carrying Value	$ 96,807	$ 31,003

Intangible Assets, Net and Goodwill - Schedule of Future Amortization Expense for Intangible Assets (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2022	$ 70,174
2023	71,268
2024	67,213
2025	65,627
2026	$ 60,788

Intangible Assets, Net and Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Balance at beginning of year	$ 651,502	$ 164,470
Goodwill of acquired businesses	579,445	487,032
Measurement period adjustments (1)	(2,206)
Balance at end of year	1,228,741	651,502
Measurement period adjustment, assets other than goodwill	5,400
Measurement period adjustment, liabilities	(5,100)
Measurement period adjustment, cash consideration transferred	(2,500)
Middle Market
Goodwill [Roll Forward]
Balance at beginning of year	526,858	52,932
Goodwill of acquired businesses	376,475	473,926
Measurement period adjustments (1)	(2,206)
Balance at end of year	901,127	526,858
Specialty
Goodwill [Roll Forward]
Balance at beginning of year	65,319	60,115
Goodwill of acquired businesses	198,699	5,204
Measurement period adjustments (1)	0
Balance at end of year	264,018	65,319
MainStreet
Goodwill [Roll Forward]
Balance at beginning of year	38,892	38,892
Goodwill of acquired businesses	0	0
Measurement period adjustments (1)	0
Balance at end of year	38,892	38,892
Medicare
Goodwill [Roll Forward]
Balance at beginning of year	20,433	12,531
Goodwill of acquired businesses	4,271	7,902
Measurement period adjustments (1)	0
Balance at end of year	$ 24,704	$ 20,433

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued compensation and benefits	$ 22,460		$ 10,826
Contract liabilities	18,178		11,606
Current portion of operating lease liabilities	12,520	$ 7,668	0
Deferred consideration payments	12,355		8,155
Accrued expenses	9,731		13,032
Current portion of long-term debt	8,521		4,000
Tax distribution payable	5,072		0
Other	3,386		3,871
Accrued expenses and other current liabilities	$ 92,223	$ 57,273	$ 51,490

Long-term Debt - Additional Information (Details)					12 Months Ended
Long-term Debt - Additional Information (Details)	Dec. 31, 2021 USD ($)	Dec. 16, 2021 USD ($)	Jun. 02, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Aug. 31, 2021 USD ($)	Aug. 06, 2021 USD ($)	May 07, 2021	May 06, 2021	Mar. 08, 2021 USD ($)	Mar. 04, 2021	Oct. 14, 2020 USD ($)
Debt Instrument [Line Items]
Debt issuance costs recorded					$ 11,557,000	$ 12,554,000	$ 2,809,000
Proceeds from revolving line of credit					420,210,000	385,637,000	69,592,000
Loss on extinguishment of debt					0	0	6,732,000
Outstanding balance	$ 35,000,000			$ 0	35,000,000	0
Repayment of revolving lines of credit					385,210,000	325,000,000	66,200,000
Payments of Debt Issuance Costs					1,124,000	4,507,000	481,000
Deferred financing costs, gross	26,600,000			$ 14,000,000	26,600,000	14,000,000
Change in fair value of interest rate caps					123,000	0	$ 0
Interest Rate Cap, Expiration March 2022
Debt Instrument [Line Items]
Derivative notional amount												$ 300,000,000
Interest Rate Cap, Expiration March 2024
Debt Instrument [Line Items]
Derivative notional amount												$ 300,000,000
Interest Rate Cap, Expiration August 2028
Debt Instrument [Line Items]
Derivative interest rate								3.00%
Derivative notional amount								$ 100,000,000
Interest Rate Cap, Expiration August 2028, One
Debt Instrument [Line Items]
Derivative interest rate								3.00%
Derivative notional amount								$ 100,000,000
Interest Rate Cap
Debt Instrument [Line Items]
Derivative Asset	6,300,000				6,300,000
Change in fair value of interest rate caps					100,000
London Interbank Offered Rate (LIBOR) \| Interest Rate Cap, Expiration March 2022
Debt Instrument [Line Items]
Derivative interest rate												0.75%
London Interbank Offered Rate (LIBOR) \| Interest Rate Cap, Expiration March 2024
Debt Instrument [Line Items]
Derivative interest rate												1.50%
London Interbank Offered Rate (LIBOR) \| Interest Rate Cap Member, Expiration March 2026
Debt Instrument [Line Items]
Derivative interest rate													2.50%
Credit Agreement October 2020 \| JPMorgan Chase Bank, N.A. [Member]
Debt Instrument [Line Items]
Debt issuance costs recorded						$ 15,100,000
Debt Instrument, Covenant, Total First Lien Net Leverage Ratio, Maximum											5.00
Debt Instrument, Covenant, Debt Service Coverage Ratio, Minimum											2.25
Credit Agreement October 2020 \| JPMorgan Chase Bank, N.A. [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing amount														$ 800,000,000
Credit Agreement May 2021 \| JPMorgan Chase Bank, N.A. [Member]
Debt Instrument [Line Items]
Debt Instrument, Covenant, Total First Lien Net Leverage Ratio, Maximum										6.00
Credit Agreement Amendment No. 4 December 2021 \| JPMorgan Chase Bank, N.A. [Member]
Debt Instrument [Line Items]
Debt issuance costs recorded					$ 12,700,000
JPMorgan Credit Agreement \| Credit Agreement October 2020 \| JPMorgan Chase Bank, N.A. [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing amount														400,000,000
JPMorgan Credit Agreement \| Credit Agreement October 2020 \| JPMorgan Chase Bank, N.A. [Member] \| Line of Credit [Member] \| Minimum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Applicable Margin					2.00%
JPMorgan Credit Agreement \| Credit Agreement October 2020 \| JPMorgan Chase Bank, N.A. [Member] \| Line of Credit [Member] \| Maximum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Applicable Margin					3.00%
JPMorgan Credit Agreement \| Credit Agreement Amendment No. 3 August 2021 \| Line of Credit [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	35,000,000				$ 35,000,000
Remaining borrowing capacity	$ 440,000,000				$ 440,000,000
Debt Instrument, Interest Rate, Stated Percentage	2.10%				2.10%
JPMorgan Credit Agreement \| Credit Agreement Amendment No. 3 August 2021 \| JPMorgan Chase Bank, N.A. [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing amount									$ 475,000,000
Line of Credit Facility, Commitment Fee Amount	$ 0.0025
Secured Debt [Member] \| Credit Agreement October 2020 \| JPMorgan Chase Bank, N.A. [Member] \| Medium-term Notes [Member]
Debt Instrument [Line Items]
Maximum borrowing amount														$ 400,000,000
Secured Debt [Member] \| Credit Agreement October 2020 \| JPMorgan Chase Bank, N.A. [Member] \| Medium-term Notes [Member] \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Applicable Margin				4.00%
Debt Instrument, Basis Spread On Variable Rate, Floor				0.75%
Secured Debt [Member] \| Credit Agreement Amendment No. 2 June 2021 \| JPMorgan Chase Bank, N.A. [Member] \| Medium-term Notes [Member]
Debt Instrument [Line Items]
Maximum borrowing amount			$ 500,000,000
Secured Debt [Member] \| Credit Agreement Amendment No. 2 June 2021 \| JPMorgan Chase Bank, N.A. [Member] \| Medium-term Notes [Member] \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Applicable Margin			3.50%
Debt Instrument, Basis Spread On Variable Rate, Floor			0.50%
Secured Debt [Member] \| Credit Agreement Amendment No. 4 December 2021 \| JPMorgan Chase Bank, N.A. [Member] \| Medium-term Notes [Member]
Debt Instrument [Line Items]
Maximum borrowing amount		$ 850,000,000
Debt Instrument, Interest Rate During Period	4.00%
Long-term Debt	$ 846,600,000				$ 846,600,000
Line of Credit Facility, Increase (Decrease), Net		$ 350,000,000

Long-term Debt - Schedule of Future Maturities of Term Loan (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2022	$ 8,521
2023	8,521
2024	8,521
2025	8,521
2026	8,521
Thereafter	804,018
Total long-term debt	846,623
Less: unamortized debt discount and issuance costs	(23,488)	$ (13,600)
Net long-term debt	$ 823,135

Leases - Assets and Liabilities Related to Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Assets:
Right-of-use assets	$ 81,646	$ 55,643	$ 0
Liabilities:
Operating lease liabilities, current portion	$ 12,520	$ 7,668	0
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Operating lease liabilities, less current portion	$ 71,357	$ 48,699	$ 0
Total	$ 83,877	$ 56,367

Leases - Lease Cost (Details) $ in Thousands	12 Months Ended
Leases - Lease Cost (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
Operating lease costs	$ 13,086
Variable lease costs	$ 2,853

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Total rent expense for operating lease under topic 840	$ 7.6	$ 4.2

Leases - Supplemental Cash Flow Information for Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows used in operating leases	$ 11,562
Operating lease non-cash items:
Right-of-use assets obtained in exchange for operating lease liabilities	86,524	$ 0	$ 0
Right-of-use assets increased through lease modifications and reassessments	$ 6,131	$ 0	$ 0

Leases - Weighted Average Remaining Lease Terms and Discount Rates (Details)	Dec. 31, 2021
Leases [Abstract]
Remaining lease term	6 years 7 months 6 days
Discount rate	3.60%

Leases - Future Minimum Rental Payments for Operating Leases post adoption of Topic 842 (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jan. 01, 2021
Leases [Abstract]
2022	$ 15,285
2023	14,134
2024	13,862
2025	12,556
2026	11,017
Thereafter	28,665
Total future minimum lease payments	95,519
Less: amounts representing interest or imputed interest	(11,642)
Present value of lease liabilities	$ 83,877	$ 56,400

Leases - Future Minimum Rental Payments for Operating Leases prior to adoption of Topic 842 (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Leases [Abstract]
2021	$ 11,128
2022	9,477
2023	8,121
2024	7,489
2025	6,535
Thereafter	19,010
Total minimum lease payments	$ 61,760

Stockholders’ Equity (Deficit) and Noncontrolling Interest - Additional Information (Details) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Preferred Stock, shares authorized (in shares)	50,000,000
Preferred Stock, par value (in dollars per share)	$ 0.01
Class A Common Stock
Class of Stock [Line Items]
Shares authorized (in shares)	300,000,000	300,000,000
Par value (in dollars per share)	$ 0.01	$ 0.01
Class B Common Stock
Class of Stock [Line Items]
Shares authorized (in shares)	100,000,000	100,000,000
Par value (in dollars per share)	$ 0.0001	$ 0.0001

Stockholders' Equity (Deficit) and Noncontrolling Interest - Rollforward of Common Stock Outstanding since the Initial Public Offering (Details) - shares		2 Months Ended	12 Months Ended
	Oct. 28, 2019	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020
Class A Common Stock
Shares Issued
Balance at beginning of period (in shares)		0	44,953,166	19,362,984
Shares issued (in shares)			9,200,000	23,287,500
Shares redeemed in connect with follow-on offerings (in shares)				0
Restricted stock grants (in shares)				633,246
Class B shares redeemed for Class A shares (in shares)			(931,471)	(253,599)
Shares repurchased (in shares)				0
Balance of end of period (in shares)	0	19,362,984	58,602,859	44,953,166
Class A Common Stock \| BRP Group, Inc. Omnibus Incentive Plan
Shares Issued
Restricted stock grants (in shares)	500,930	2,754	906,338
Class A Common Stock \| BRP Group, Inc. Partnership Inducement Award Plan
Shares Issued
Restricted stock grants (in shares)			1,558,694
Class A Common Stock \| IPO
Shares Issued
Shares issued (in shares)	18,859,300
Class A Common Stock \| IPO \| BRP Group, Inc. Omnibus Incentive Plan, Obligation Settlement with Participation Unit Ownership Plan
Shares Issued
Restricted stock grants (in shares)	22,243
Class A Common Stock \| Partnership Offering
Shares Issued
Shares issued (in shares)			1,053,190	1,415,837
Class B Common Stock
Shares Issued
Balance at beginning of period (in shares)		0	49,828,383	43,257,738
Shares issued (in shares)				0
Shares redeemed in connect with follow-on offerings (in shares)				(4,091,667)
Restricted stock grants (in shares)				0
Class B shares redeemed for Class A shares (in shares)			(931,471)	(253,599)
Shares repurchased (in shares)				(88,785)
Balance of end of period (in shares)	0	43,257,738	56,338,051	49,828,383
Class B Common Stock \| Executive Officer
Shares Issued
Shares issued (in shares)		69,503
Class B Common Stock \| Partnership Offering
Shares Issued
Shares issued (in shares)			7,441,139	11,004,696
Voting Common Units \| Class B Common Stock
Shares Issued
Shares issued in conversion (in shares)	5,701,107
Village Units \| Class B Common Stock
Shares Issued
Shares issued in conversion (in shares)	3,077,559
Rollover Member Units \| Class B Common Stock
Shares Issued
Shares issued in conversion (in shares)	9,615,911
Majority Founder Units \| Class B Common Stock
Shares Issued
Shares issued in conversion (in shares)	18,933,907
Non-Voting Common Units \| Class B Common Stock
Shares Issued
Shares issued in conversion (in shares)	232,596
Management Incentive Units \| Class B Common Stock
Shares Issued
Shares issued in conversion (in shares)	5,627,155

Stockholders' Equity (Deficit) and Noncontrolling Interest - Ownership Interest (Details) - shares	Dec. 31, 2021	Dec. 31, 2020
Units
Interest in BRP held by BRP Group	58,602,859	44,953,166
Noncontrolling interest in BRP held by BRP’s LLC Members	56,338,051	49,828,383
Total	114,940,910	94,781,549
Percentage
Interest in BRP held by BRP Group	51.00%	47.00%
Total	100.00%	100.00%
BRP Group, Inc.
Percentage
Noncontrolling interest in BRP held by BRP’s LLC Members	49.00%	53.00%

Related Party Transactions - Additional Information (Details) - USD ($)			1 Months Ended		12 Months Ended
	Oct. 28, 2019	Mar. 13, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Due from related parties			$ 19,000		$ 1,668,000	$ 19,000
Noncash debt issuance costs recorded					11,557,000	12,554,000	$ 2,809,000
Debt issuance costs recorded					1,124,000	4,507,000	481,000
Repayment of related party debt and interest					0	0	88,425,000
Loss on extinguishment of debt					0	0	6,732,000
Related Party interest expense							4,900,000
Monthly rent expense					11,562,000
Notes Payable, Related Parties					61,500,000
Villages Credit Agreement
Related Party Transaction [Line Items]
Maximum borrowing amount		$ 125,000,000	$ 100,000,000			$ 100,000,000
Interest rate		8.75%	6.50%			6.50%
Payment terms						beginning July 1, 2016 and continuing on the first day of each calendar quarter thereafter
Maturity Date		Sep. 13, 2024				Apr. 13, 2023
Repayment of related party debt and interest	$ 89,000,000
Loss on extinguishment of debt						$ 6,200,000
Villages Broker Commissions
Related Party Transaction [Line Items]
Related party commissions revenue					1,800,000	1,100,000	1,300,000
Villages Leased Facilities
Related Party Transaction [Line Items]
Related party expense					500,000	500,000	500,000
Director Broker Commissions
Related Party Transaction [Line Items]
Related party commissions revenue					300,000	500,000	200,000
Commission Expense \| Affiliated Entity
Related Party Transaction [Line Items]
Related party expense					600,000	600,000
Other Related Parties Leased Facilities
Related Party Transaction [Line Items]
Related party expense					$ 2,500,000	$ 1,500,000	$ 800,000
Minimum \| Villages Leased Facilities
Related Party Transaction [Line Items]
Monthly rent expense				$ 3,000
Minimum \| Other Related Parties Leased Facilities
Related Party Transaction [Line Items]
Monthly rent expense			$ 1,000
Maximum \| Villages Leased Facilities
Related Party Transaction [Line Items]
Monthly rent expense			$ 28,000
Leases expire through date			Nov. 30, 2025
Maximum \| Other Related Parties Leased Facilities
Related Party Transaction [Line Items]
Monthly rent expense			$ 56,000
Leases expire through date				Dec. 31, 2029

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands					1 Months Ended		2 Months Ended	12 Months Ended
	Jan. 01, 2022	May 03, 2021	Oct. 28, 2019	Oct. 24, 2019	Sep. 30, 2019	May 31, 2019	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense								$ 19,200	$ 7,700	$ 4,600
Expected dividend yield									0.20%
Fair value of shares that vested and settled								6,000	$ 2,100	$ 2,400
Total unrecognized compensation cost related to unvested shares of restricted stock								$ 75,300
Total unrecognized compensation cost related to unvested shares of restricted stock, weighted average period of recognition								3 years
Expected volatility									26.10%
Expected life (in years)									7 years
Risk-free interest rate									3.10%
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested in period (in shares)								279,494	175,372	173,440
Shares granted (in shares)								2,758,207	709,426	503,684
Grant-date fair value								$ 31.72	$ 15.79	$ 14.00
Grant date fair value (in dollars per share)							$ 14.00	$ 28.83	$ 15.92	$ 14.00
Vesting period		5 years
Non-vested shares expected to vest at end of period (in shares)								2,533,446
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested		$ 1,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested shares expected to vest at end of period, weighted-average contractual term								2 years 2 months 12 days
Non-vested shares expected to vest at end of period (in shares)								95,822
Expected life (in years)								2 years 8 months 12 days
Risk-free interest rate								0.27%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested		3,100
Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility								18.00%
Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility								172.00%
Management Service, Incentive \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested		$ 8,800
Management Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield					1.40%	1.20%
BRP Group, Inc. Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance, annual increase based on percentage of outstanding stock								2.00%
Maximum annual compensation payable to administrators of plan				$ 250
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant								1,111,870
BRP Group, Inc. Omnibus Incentive Plan \| Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period				10 years
BRP Group, Inc. Partnership Inducement Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant								680,991
BRP Group, Inc. Partnership Inducement Award Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period
Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)								56,338,051	49,828,383
Restricted stock grants (in shares)									0
Class B Common Stock \| Management Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested in period (in shares)			2,504,341				1,165,586		609,500
2020 (in shares)								467,237
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)								58,602,859	44,953,166
Restricted stock grants (in shares)									633,246
Class A Common Stock \| BRP Group, Inc. Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)								3,844,044
Restricted stock grants (in shares)			500,930				2,754	906,338
Class A Common Stock \| BRP Group, Inc. Omnibus Incentive Plan \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized (in shares)	2,298,818
Class A Common Stock \| BRP Group, Inc. Partnership Inducement Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)								3,000,000
Restricted stock grants (in shares)								1,558,694
Management Incentive Units \| Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in conversion (in shares)			5,627,155
Share-Based Payment Arrangement, Cliff Vesting \| BRP Group, Inc. Omnibus Incentive and Partnership Inducement Award Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period								4 years
Share-Based Payment Arrangement, Ratable Vesting \| BRP Group, Inc. Omnibus Incentive and Partnership Inducement Award Plans \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period								3 years
Share-Based Payment Arrangement, Ratable Vesting \| BRP Group, Inc. Omnibus Incentive and Partnership Inducement Award Plans \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period								5 years
IPO \| Management Service, Incentive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense										$ 1,100
IPO \| Class A Common Stock \| BRP Group, Inc. Omnibus Incentive Plan, Obligation Settlement with Advisor Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants (in shares)			204,807
IPO \| Class A Common Stock \| BRP Group, Inc. Omnibus Incentive Plan, Obligation Settlement with Participation Unit Ownership Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants (in shares)			22,243
Common Stock \| Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in conversion (in shares)			43,188,235
Share-based compensation (in shares)							69,503
Common Stock \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in conversion (in shares)			227,050
Share-based compensation (in shares)							276,634	2,465,032	633,246

Share-Based Compensation - Activity for Non-Vested Awards Granted under Omnibus Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	$ 22.25	$ 14.40
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(89,009)	(38,271)
Restricted Stock
Shares
Outstanding at beginning of period (in shares)	826,027	330,244	0
Granted (in shares)	2,758,207	709,426	503,684
Vested and settled (in shares)	(279,494)	(175,372)	(173,440)
Outstanding at end of period (in shares)	3,215,731	826,027	330,244
Weighted-Average Grant-Date Fair Value Per Share
Granted (in dollars per share)	$ 31.72	$ 15.79	$ 14.00
Vested and settled (in dollars per share)	21.33	12.09	13.99
Outstanding at end of period (in dollars per share)	$ 28.83	$ 15.92	$ 14.00
Non-vested shares expected to vest at end of period (in shares)	2,533,446
Non-vested shares expected to vest at end of period, weighted-average grant-date fair value per share (in dollars per share)	$ 28.80
Performance Shares
Weighted-Average Grant-Date Fair Value Per Share
Non-vested shares expected to vest at end of period (in shares)	95,822
Non-vested shares expected to vest at end of period, weighted-average contractual term	2 years 2 months 12 days
Non-vested shares expected to vest at end of period, aggregate intrinsic value	$ 3,500

Share-Based Compensation - Non-Vested Shares of Class B Common Stock related to Management Incentive Plan Expected to Vest (Details) - Class B Common Stock - Management Incentive Units	12 Months Ended
	Dec. 31, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2021 (in shares)	450,744
2022 (in shares)	429,747

Share-Based Compensation - Activity for Awards Granted under the Management Incentive Units Plan (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Oct. 28, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Fair value of shares that vested and settled		$ 6.0	$ 2.1	$ 2.4
Share based compensation expense		19.2	$ 7.7	$ 4.6
Total unrecognized compensation cost related to unvested shares of restricted stock		$ 75.3
Total unrecognized compensation cost related to unvested shares of restricted stock, weighted average period of recognition		3 years
Management Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at beginning of period (in shares)			0	720,180
Granted (in shares)				475,900
Forfeitures (in shares)				(40,000)
Exchanged for options (in shares)				(10,000)
Exchanged for Class B common stock (in shares)				(1,146,080)
Outstanding at end of period (in shares)				0
Share-Based Compensation Arrangement By Share-Based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at beginning of period, weighted-average grant-date fair value per share (in dollars per share)				$ 3.15
Granted, weighted-average grant-date fair value per share (in dollars per share)				7.34
Forfeitured, weighted average exercise price (in dollars per share)				2.97
Exchanged for options, weighted average grant date fair value (in dollars per share)				2.97
Exchanged for Class B common stock, weighted-average grant-date fair value per share (in dollars per share)				$ 4.90
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Outstanding at beginning of period, Weighted Average Remaining Contractual Terms	1 year 10 months 24 days

Share-Based Compensation - Schedule of Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Expected volatility	26.10%
Expected dividend yield	0.20%
Expected life (in years)	7 years
Risk-free interest rate	3.10%

Retirement Plan (Details) - USD ($) $ in Thousands	12 Months Ended
Retirement Plan (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Company Contribution Amount	$ 5,100	$ 1,300	$ 700

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 28, 2019	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Valuation allowance		$ 83,871	$ 55,057
Income tax benefit, percentage of benefit payable to noncontrolling owners	85.00%	85.00%
Income Tax Benefit, Percentage Of Benefit Payable To Controlling Owners		0.15

Income Taxes - Schedule of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Federal					$ 11	$ 0	$ 13
State and local					3	0	4
Current Income Tax Expense (Benefit)					14	0	17
Income Tax Expense	$ 19	$ 0	$ 0	$ 0	19	(5)	17
Deferred Federal Income Tax Expense (Benefit)					4	(4)	0
Deferred State and Local Income Tax Expense (Benefit)					1	(1)	0
Deferred Federal, State and Local, Tax Expense (Benefit)					$ 5	$ (5)	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income (loss) before income taxes	$ (44,366)	$ (24,601)	$ (20,441)	$ 31,307	$ (58,101)	$ (29,890)	$ (22,437)
Noncontrolling interest					$ 7,072	$ 4,415	3,138
Statutory Income Tax Rate					21.00%	21.00%
Tax provision at statutory rate (21%)					$ (12,201)	$ (6,280)	(4,712)
Valuation allowance					6,942	3,383	2,228
State and local income tax					(2,403)	(1,215)	(1,064)
Share-based compensation					(467)	(175)	0
MIU issuance					452	22	328
IRC 162(m)					435	0	0
Meals and entertainment					86	110	79
State rate change					(12)	(206)	0
True-up and adjustments					3	(157)	0
Other					112	98	20
Income Tax Expense	$ 19	$ 0	$ 0	$ 0	$ 19	$ (5)	$ 17

Income Taxes - Schedule of Deferred Tax assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Investment in Partnerships	$ 75,368	$ 50,364
Net operating loss	6,018	2,216
Capitalized transaction costs	2,304	2,477
Charitable contributions	143	0
163(j) limitation carryforward	38	0
Total deferred tax assets	83,871	55,057
Valuation allowance	(83,871)	(55,057)
Net deferred tax assets	0	0
Charitable contributions	$ 143	$ 0

Earnings (Loss) Per Share - Additional Information (Details) - shares	2 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	330,244	3,119,909	826,027
Class B Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	43,257,738	56,338,051	49,828,383

Earnings (Loss) Per Share Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net loss attributable to BRP Group, Inc.	$ (8,650)	$ (30,646)	$ (15,696)
Basic and diluted weighted-average shares of Class A common stock outstanding	17,916,735	47,587,866	27,175,705
Basic and diluted net loss per share	$ (0.48)	$ (0.64)	$ (0.58)

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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Fair Value Measurements - Schedule of Fair Value by Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Level 2 Assets	$ 2,876,307	$ 1,585,388	$ 1,529,914
Level 3 Liabilities	1,688,751	$ 814,428	759,946
Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	6,300
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Caps			0
Level 2 Assets	6,338		0
Contingent earnout liabilities	258,589		164,819
Level 3 Liabilities	258,589		$ 164,819
Fair Value, Inputs, Level 2 \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	$ 6,338

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

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Fair Value Measurements - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Maximum estimated exposure to contingent earnout liabilities	$ 1,000,000,000
Change in fair value of contingent asset		$ 100,000
Unamortized debt discount and issuance costs	(23,488,000)	(13,600,000)
Estimate of Fair Value Measurement
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long-term Debt, Fair Value Measurement	904,100,000	402,000,000
Reported Value Measurement
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long-term Debt, Fair Value Measurement	881,600,000	399,000,000
Contingent Earnout Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Change in estimated fair value of contingent earnout liabilities	$ 45,200,000	$ 20,400,000	$ 10,600,000
Maximum \| Revenue or EBITDA Growth Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent earnout measurement input	0.22	0.20
Maximum \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent earnout measurement input	0.1550	18
Minimum \| Revenue or EBITDA Growth Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent earnout measurement input	5	7
Minimum \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent earnout measurement input	0.0500	5

Fair Value Measurements - Schedule of Changes in Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Liabilities:
Measurement period adjustment, liabilities	$ (5,100)
Contingent Earnout Liabilities
Liabilities:
Balance at beginning of year	164,819	$ 48,769
Settlement of contingent consideration (3)	(74,048)	(2,919)
Fair value of contingent consideration recorded	122,622	98,523
Change in fair value of contingent consideration	(45,196)	(20,446)
Balance at end of year	258,589	164,819
Measurement period adjustment, liabilities	(4,700)
Issuances, Gross	127,300
Liability settlements, Noncash	61,500
Contingently Returnable Consideration
Assets:
Balance at beginning of year	$ 0	70
Fair value of contingent consideration recorded in connection with business combinations		0
Change in fair value of contingent consideration		(70)
Balance at end of year		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements		$ 0

Segment Reporting - Summarized Financial Information by Operating Group (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2021
Segment Reporting Information [Line Items]
Commissions and fees	$ 159,200	$ 135,556	$ 119,706	$ 152,828	$ 567,290	$ 240,919	$ 137,841
Commissions, employee compensation and benefits					400,050	174,114	96,955
Other operating expenses					102,162	48,060	24,576
Amortization expense					48,720	19,038	10,007
Change in fair value of contingent consideration					45,196	20,516	10,829
Depreciation expense					2,788	1,129	542
Total operating expenses	197,057	152,739	133,242	115,878	598,916	262,857	142,909
Operating income (loss)	(37,857)	(17,183)	(13,536)	36,950	(31,626)	(21,938)	(5,068)
Interest income (expense), net					(26,899)	(7,857)	(10,640)
Loss on extinguishment of debt					0	0	(6,732)
Other income (expense), net					424	(95)	3
Total other income (expense)	(6,509)	(7,418)	(6,905)	(5,643)	(26,475)	(7,952)	(17,369)
Income (loss) before income taxes	(44,366)	(24,601)	(20,441)	31,307	(58,101)	(29,890)	(22,437)
Income tax expense (benefit)	19	0	0	0	19	(5)	17
Net income (loss)	(44,385)	$ (24,601)	$ (20,441)	$ 31,307	(58,120)	(29,885)	(22,454)
Capital expenditures					5,321	5,469	1,718
Total assets	2,876,307				2,876,307	1,529,914		$ 1,585,388
Middle Market
Segment Reporting Information [Line Items]
Commissions and fees					363,822	103,393	56,394
Commissions, employee compensation and benefits					234,652	66,303	37,560
Other operating expenses					50,037	16,319	8,396
Amortization expense					34,056	7,037	1,861
Change in fair value of contingent consideration					32,735	143	(1,378)
Depreciation expense					1,483	586	344
Total operating expenses					352,963	90,388	46,783
Operating income (loss)					10,859	13,005	9,611
Interest income (expense), net					(150)	46	37
Loss on extinguishment of debt							0
Other income (expense), net					573	(66)	3
Total other income (expense)					423	(20)	40
Income (loss) before income taxes					11,282	12,985	9,651
Income tax expense (benefit)					0	0	0
Net income (loss)					11,282	12,985	9,651
Capital expenditures					949	629	256
Total assets	2,142,485				2,142,485	1,194,185
Middle Market \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Commissions and fees					(1,500)	(500)
Specialty
Segment Reporting Information [Line Items]
Commissions and fees					144,455	88,876	44,913
Commissions, employee compensation and benefits					102,824	67,189	32,505
Other operating expenses					13,716	5,746	3,318
Amortization expense					11,326	9,131	6,466
Change in fair value of contingent consideration					11,881	16,707	13,513
Depreciation expense					184	167	11
Total operating expenses					139,931	98,940	55,813
Operating income (loss)					4,524	(10,064)	(10,900)
Interest income (expense), net					(2)	0	(32)
Loss on extinguishment of debt							0
Other income (expense), net					(38)	(28)	0
Total other income (expense)					(40)	(28)	(32)
Income (loss) before income taxes					4,484	(10,092)	(10,932)
Income tax expense (benefit)					0	0	0
Net income (loss)					4,484	(10,092)	(10,932)
Capital expenditures					590	77	23
Total assets	549,662				549,662	188,360
Specialty \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Commissions and fees					(200)
MainStreet
Segment Reporting Information [Line Items]
Commissions and fees					34,344	30,361	25,533
Commissions, employee compensation and benefits					22,884	17,852	14,727
Other operating expenses					4,970	4,440	3,888
Amortization expense					1,617	1,730	1,280
Change in fair value of contingent consideration					926	3,187	(971)
Depreciation expense					255	251	81
Total operating expenses					30,652	27,460	19,005
Operating income (loss)					3,692	2,901	6,528
Interest income (expense), net					0	4	(8)
Loss on extinguishment of debt							0
Other income (expense), net					0	0	0
Total other income (expense)					0	4	(8)
Income (loss) before income taxes					3,692	2,905	6,520
Income tax expense (benefit)					0	0	0
Net income (loss)					3,692	2,905	6,520
Capital expenditures					99	109	417
Total assets	61,322				61,322	58,957
MainStreet \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Commissions and fees					(500)	(200)
Medicare
Segment Reporting Information [Line Items]
Commissions and fees					27,392	19,320	11,001
Commissions, employee compensation and benefits					16,309	10,889	5,576
Other operating expenses					5,289	3,504	2,079
Amortization expense					1,716	1,132	381
Change in fair value of contingent consideration					(346)	479	(335)
Depreciation expense					90	53	17
Total operating expenses					23,058	16,057	7,718
Operating income (loss)					4,334	3,263	3,283
Interest income (expense), net					1	0	0
Loss on extinguishment of debt							0
Other income (expense), net					(4)	0	0
Total other income (expense)					(3)	0	0
Income (loss) before income taxes					4,331	3,263	3,283
Income tax expense (benefit)					0	0	0
Net income (loss)					4,331	3,263	3,283
Capital expenditures					92	160	10
Total assets	56,472				56,472	43,675
Medicare \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Commissions and fees					(600)	(300)
Corporate and Other
Segment Reporting Information [Line Items]
Commissions and fees					(2,723)	(1,031)	0
Commissions, employee compensation and benefits					23,381	11,881	6,587
Other operating expenses					28,150	18,051	6,895
Amortization expense					5	8	19
Change in fair value of contingent consideration					0	0	0
Depreciation expense					776	72	89
Total operating expenses					52,312	30,012	13,590
Operating income (loss)					(55,035)	(31,043)	(13,590)
Interest income (expense), net					(26,748)	(7,907)	(10,637)
Loss on extinguishment of debt							(6,732)
Other income (expense), net					(107)	(1)	0
Total other income (expense)					(26,855)	(7,908)	(17,369)
Income (loss) before income taxes					(81,890)	(38,951)	(30,959)
Income tax expense (benefit)					19	(5)	17
Net income (loss)					(81,909)	(38,946)	(30,976)
Capital expenditures					3,591	4,494	$ 1,012
Total assets	$ 66,366				$ 66,366	$ 44,737

Segment Reporting - Additional Information (Details)	12 Months Ended
Segment Reporting - Additional Information (Details)	Dec. 31, 2021 segment
Segment Reporting [Abstract]
Number of Reportable Segments	4

Label	Element	Value
Cash, FDIC Insured Amount	us-gaap_CashFDICInsuredAmount	$ 250,000
Debt Issuance Costs, Line of Credit Arrangements, Gross	us-gaap_DebtIssuanceCostsLineOfCreditArrangementsGross	4,900,000
Debt Issuance Costs, Line of Credit Arrangements, Gross	us-gaap_DebtIssuanceCostsLineOfCreditArrangementsGross	4,800,000
Accumulated Amortization of Debt Issuance Costs, Line of Credit Arrangements	us-gaap_AccumulatedAmortizationOfDebtIssuanceCostsLineOfCreditArrangements	1,800,000
Accumulated Amortization of Debt Issuance Costs, Line of Credit Arrangements	us-gaap_AccumulatedAmortizationOfDebtIssuanceCostsLineOfCreditArrangements	1,100,000
Accumulated Amortization, Debt Issuance Costs	us-gaap_AccumulatedAmortizationDeferredFinanceCosts	3,200,000
Accumulated Amortization, Debt Issuance Costs	us-gaap_AccumulatedAmortizationDeferredFinanceCosts	400,000
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred but Not Reported (IBNR) Claims, Amount	us-gaap_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredButNotReportedIBNRClaimsAmount	1,100,000
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred but Not Reported (IBNR) Claims, Amount	us-gaap_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredButNotReportedIBNRClaimsAmount	$ 700,000
Participation Unit Ownership Plan, Number of Units Authorized	brp_ParticipationUnitOwnershipPlanNumberOfUnitsAuthorized	100,000
Advisor Incentive Liabilities	brp_AdvisorIncentiveLiabilities	$ 3,600,000
Advisor Incentive Liabilities	brp_AdvisorIncentiveLiabilities	2,400,000
Stock Issued During Period, Value, Conversion of Units	us-gaap_StockIssuedDuringPeriodValueConversionOfUnits	259,838,000
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest	728,000
Members' Equity Account, Contributions Through Member Note Receivable	brp_MembersEquityAccountContributionsThroughMemberNoteReceivable	(263,000)
Reduction Of Equity Loans To Purchase Member Units	brp_ReductionOfEquityLoansToPurchaseMemberUnits	(160,000)
Equity Units Issued During Period, Value, Management Incentive Plan	brp_EquityUnitsIssuedDuringPeriodValueManagementIncentivePlan	1,334,000
Equity Units Issued During Period, Value, Non Voting Common Units To Members	brp_EquityUnitsIssuedDuringPeriodValueNonVotingCommonUnitsToMembers	998,000
Noncontrolling Interest, Change in Redemption Value	us-gaap_MinorityInterestChangeInRedemptionValue	(143,413,000)
Noncontrolling Interest, Increase from Business Combination	us-gaap_NoncontrollingInterestIncreaseFromBusinessCombination	1,000,000
Partners' Capital Account, Distributions	us-gaap_PartnersCapitalAccountDistributions	3,216,000
Producer Commissions Chargeback	brp_ProducerCommissionsChargeback	2,300,000
Producer Commissions Chargeback	brp_ProducerCommissionsChargeback	1,700,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	210,036,000
Contract with Customer, Asset, Allowance for Credit Loss	us-gaap_ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss	5,200,000
Contract with Customer, Asset, Allowance for Credit Loss	us-gaap_ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss	$ 3,200,000
Computer Software, Intangible Asset [Member] \| Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	us-gaap_FiniteLivedIntangibleAssetUsefulLife	2 years
Computer Software, Intangible Asset [Member] \| Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	us-gaap_FiniteLivedIntangibleAssetUsefulLife	5 years
Purchased Customer Accounts, Distributor Relationships, Carrier Relationships, and Trade Names [Member] \| Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	us-gaap_FiniteLivedIntangibleAssetUsefulLife	1 year
Purchased Customer Accounts, Distributor Relationships, Carrier Relationships, and Trade Names [Member] \| Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	us-gaap_FiniteLivedIntangibleAssetUsefulLife	20 years
Redeemable Noncontrolling Interest [Member]
Stock Issued During Period, Value, Conversion of Units	us-gaap_StockIssuedDuringPeriodValueConversionOfUnits	$ (134,261,000)
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest	4,119,000
Members' Equity Account, Contributions Through Member Note Receivable	brp_MembersEquityAccountContributionsThroughMemberNoteReceivable	263,000
Partners' Capital Account, Contributions	us-gaap_PartnersCapitalAccountContributions	35,000
Noncontrolling Interest, Change in Redemption Value	us-gaap_MinorityInterestChangeInRedemptionValue	52,209,000
Noncontrolling Interest, Increase from Business Combination	us-gaap_NoncontrollingInterestIncreaseFromBusinessCombination	37,637,000
Partners' Capital Account, Distributions	us-gaap_PartnersCapitalAccountDistributions	6,182,000
Members' Capital (Deficit) [Member]
Stock Issued During Period, Value, Conversion of Units	us-gaap_StockIssuedDuringPeriodValueConversionOfUnits	207,593,000
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest	602,000
Equity Units Issued During Period, Value, Management Incentive Plan	brp_EquityUnitsIssuedDuringPeriodValueManagementIncentivePlan	1,334,000
Equity Units Issued During Period, Value, Non Voting Common Units To Members	brp_EquityUnitsIssuedDuringPeriodValueNonVotingCommonUnitsToMembers	612,000
Noncontrolling Interest, Change in Redemption Value	us-gaap_MinorityInterestChangeInRedemptionValue	(143,413,000)
Partners' Capital Account, Distributions	us-gaap_PartnersCapitalAccountDistributions	3,122,000
Additional Paid-in Capital [Member]
Stock Issued During Period, Value, Conversion of Units	us-gaap_StockIssuedDuringPeriodValueConversionOfUnits	(127,624,000)
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	209,847,000
Receivables from Stockholder [Member]
Stock Issued During Period, Value, Conversion of Units	us-gaap_StockIssuedDuringPeriodValueConversionOfUnits	(452,000)
Members' Equity Account, Contributions Through Member Note Receivable	brp_MembersEquityAccountContributionsThroughMemberNoteReceivable	(310,000)
Reduction Of Equity Loans To Purchase Member Units	brp_ReductionOfEquityLoansToPurchaseMemberUnits	(160,000)
Noncontrolling Interest [Member]
Stock Issued During Period, Value, Conversion of Units	us-gaap_StockIssuedDuringPeriodValueConversionOfUnits	180,315,000
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest	126,000
Members' Equity Account, Contributions Through Member Note Receivable	brp_MembersEquityAccountContributionsThroughMemberNoteReceivable	47,000
Equity Units Issued During Period, Value, Non Voting Common Units To Members	brp_EquityUnitsIssuedDuringPeriodValueNonVotingCommonUnitsToMembers	386,000
Noncontrolling Interest, Increase from Business Combination	us-gaap_NoncontrollingInterestIncreaseFromBusinessCombination	1,000,000
Partners' Capital Account, Distributions	us-gaap_PartnersCapitalAccountDistributions	94,000
Redeemable Members' Capital [Member]
Stock Issued During Period, Value, Conversion of Units	us-gaap_StockIssuedDuringPeriodValueConversionOfUnits	(123,115,000)
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest	699,000
Issuance Of Voting Common Units To Redeemable Common Equity Holder, Capitalized, Value	brp_IssuanceOfVotingCommonUnitsToRedeemableCommonEquityHolderCapitalizedValue	5,509,000
Stock Repurchased During Period, Value	us-gaap_StockRepurchasedDuringPeriodValue	11,177,000
Noncontrolling Interest, Change in Redemption Value	us-gaap_MinorityInterestChangeInRedemptionValue	91,204,000
Repurchase Redemption Value Adjustments	brp_RepurchaseRedemptionValueAdjustments	1,323,000
Partners' Capital Account, Distributions	us-gaap_PartnersCapitalAccountDistributions	$ 1,151,000
Revenue Benchmark [Member] \| Customer Concentration Risk [Member] \| Customer Two [Member]
Concentration Risk, Percentage	us-gaap_ConcentrationRiskPercentage1	10.00%
Revenue Benchmark [Member] \| Customer Concentration Risk [Member] \| Customer One [Member]
Concentration Risk, Percentage	us-gaap_ConcentrationRiskPercentage1	13.00%
Concentration Risk, Percentage	us-gaap_ConcentrationRiskPercentage1	14.00%
Common Class A [Member]
Proceeds from Issuance of Common Stock	us-gaap_ProceedsFromIssuanceOfCommonStock	$ 166,500,000
Proceeds from Issuance of Common Stock	us-gaap_ProceedsFromIssuanceOfCommonStock	283,200,000
Proceeds from Issuance of Common Stock	us-gaap_ProceedsFromIssuanceOfCommonStock	269,400,000
Offering Costs, Underwriting	brp_OfferingCostsUnderwriting	7,900,000
Offering Costs, Underwriting	brp_OfferingCostsUnderwriting	12,600,000
Offering Costs, Underwriting	brp_OfferingCostsUnderwriting	11,200,000
Offering Costs	brp_OfferingCosts	800,000
Offering Costs	brp_OfferingCosts	1,100,000
Offering Costs	brp_OfferingCosts	$ 1,100,000
Shares Issued, Price Per Share	us-gaap_SharesIssuedPricePerShare	$ 13.25
Shares Issued, Price Per Share	us-gaap_SharesIssuedPricePerShare	29.50
Shares Issued, Price Per Share	us-gaap_SharesIssuedPricePerShare	$ 30.50
Common Class A [Member] \| Over-Allotment Option [Member]
Offering Costs, Underwriting	brp_OfferingCostsUnderwriting	$ 17,800,000
Offering Costs	brp_OfferingCosts	$ 4,800,000
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	2,459,300
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	1,725,000
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	1,312,500
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	1,200,000
Shares Issued, Price Per Share	us-gaap_SharesIssuedPricePerShare	$ 14.00
Proceeds from Issuance Initial Public Offering	us-gaap_ProceedsFromIssuanceInitialPublicOffering	$ 241,400,000
Common Class A [Member] \| Initial Allotment [Member]
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	13,225,000
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	10,062,500
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	9,200,000
Common Class A [Member] \| Common Stock [Member]
Stock Issued During Period, Value, Conversion of Units	us-gaap_StockIssuedDuringPeriodValueConversionOfUnits	$ 2,000
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	18,859,300
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	$ 189,000
Common Class B [Member] \| Common Stock [Member]
Stock Issued During Period, Value, Conversion of Units	us-gaap_StockIssuedDuringPeriodValueConversionOfUnits	4,000
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset	us-gaap_OperatingLeaseRightOfUseAsset	55,643,000
Deferred Rent Credit, Net of Prepaid Rent	brp_DeferredRentCreditNetOfPrepaidRent	$ 1,700,000