
	For the Three Months Ended June 30, 2026
(in thousands)	Insurance Advisory Solutions		Underwriting, Capacity & Technology Solutions		Mainstreet Insurance Solutions		Corporate and Other		Total
Revenues:
Commission revenue(1)	$	208,847	$	114,990	$	67,250	$	(18,027)	$	373,060
Profit-sharing revenue	17,833		5,310		6,391		—		29,534
Consulting and service fee revenue	42,935		1,872		76		—		44,883
Policy fee and installment fee revenue	—		21,201		—		—		21,201
Assumed premium earned	—		15,309		—		—		15,309
Other income	3,269		140		1,589		(196)		4,802
Investment income	2,459		1,425		21		245		4,150
Total revenues	275,343		160,247		75,327		(17,978)		492,939
Expenses:
Inside advisor commissions	66,039		727		8,145		—		74,911
Fixed compensation	76,404		19,319		10,527		2,670		108,920
Benefits and other	34,858		9,802		7,257		1,967		53,884
Share-based compensation	9,257		4,472		1,369		5,603		20,701
Severance	3,586		490		957		874		5,907
Colleague compensation and benefits	190,144		34,810		28,255		11,114		264,323
Outside commissions(1)	3,953		66,551		19,517		(18,223)		71,798
Selling expense	11,571		2,477		2,949		2,646		19,643
Operating expense	28,093		30,171		5,875		9,261		73,400
Administrative expense	35,186		14,790		13,222		42,412		105,610
All other (income) expense, net(2)	7,675		4,755		1,745		(29)		14,146
Total expense	276,622		153,554		71,563		47,181		548,920
Net income (loss)	$	(1,279)	$	6,693	$	3,764	$	(65,159)	$	(55,981)

Other segment disclosures:
Loss on change in fair value of contingent consideration	$	5,105	$	5,446	$	1,752	$	—	$	12,303
Depreciation and amortization expense	32,946		10,821		13,170		1,863		58,800
Interest expense, net	1,797		3,642		3		40,224		45,666

Loss on extinguishment and modification of debt	—		—		—		129		129
Share of net earnings of equity method investee	—		664		—		—		664

(1) During the three months ended June 30, 2026, the IAS operating group recorded commission revenue shared with other operating groups of $0.2 million and the UCTS operating group recorded commission revenue shared with other operating groups of $18.0 million. Commission revenue shared with other operating groups, and the related outside commissions, are eliminated through Corporate and Other.


	For the Three Months Ended June 30, 2025
(in thousands)	Insurance Advisory Solutions		Underwriting, Capacity & Technology Solutions		Mainstreet Insurance Solutions		Corporate and Other		Total
Revenues:
Commission revenue(1)	$	139,680	$	117,060	$	61,309	$	(18,806)	$	299,243
Profit-sharing revenue	14,003		2,038		3,919		—		19,960
Consulting and service fee revenue	25,993		1,382		—		—		27,375
Policy fee and installment fee revenue	—		19,684		—		—		19,684
Assumed premium earned	—		5,488		—		—		5,488
Other income	2,677		723		1,280		(181)		4,499
Investment income	912		1,135		56		459		2,562
Total revenues	183,265		147,510		66,564		(18,528)		378,811
Expenses:
Inside advisor commissions	41,031		180		7,920		—		49,131
Fixed compensation	54,340		16,016		9,995		2,801		83,152
Benefits and other	23,793		10,022		6,241		3,072		43,128
Share-based compensation	5,904		3,397		1,655		5,996		16,952
Severance	732		723		39		124		1,618
Colleague earnout incentives	1,490		—		—		—		1,490
Colleague compensation and benefits	127,290		30,338		25,850		11,993		195,471
Outside commissions(1)	2,800		70,716		19,057		(18,987)		73,586
Selling expense	6,424		1,591		3,828		2,206		14,049
Operating expense	14,420		13,976		5,828		6,930		41,154
Administrative expense	13,885		5,339		7,744		32,920		59,888
All other (income) expense, net(2)	668		(1,565)		34		667		(196)
Total expense	165,487		120,395		62,341		35,729		383,952
Net income (loss)	$	17,778	$	27,115	$	4,223	$	(54,257)	$	(5,141)

Other segment disclosures:
Loss (gain) on change in fair value of contingent consideration	$	(468)	$	(1,554)	$	65	$	—	$	(1,957)
Depreciation and amortization expense	13,519		5,102		7,583		1,448		27,652
Interest (income) expense, net	(1)		110		24		31,187		31,320
Loss (gain) on divestitures	(500)		—		—		1,611		1,111

(1) During the three months ended June 30, 2025, the IAS operating group recorded commission revenue shared with other operating groups of $0.2 million and the UCTS operating group recorded commission revenue shared with other operating groups of $18.8 million. Commission revenue shared with other operating groups, and the related outside commissions, are eliminated through Corporate and Other.


	For the Six Months Ended June 30, 2026
(in thousands)	Insurance Advisory Solutions		Underwriting, Capacity & Technology Solutions		Mainstreet Insurance Solutions		Corporate and Other		Total
Revenues:
Commission revenue(1)	$	474,884	$	209,460	$	143,114	$	(33,844)	$	793,614
Profit-sharing revenue	36,859		8,072		10,714		—		55,645
Consulting and service fee revenue	85,000		3,280		76		—		88,356
Policy fee and installment fee revenue	—		41,943		—		—		41,943
Assumed premium earned	—		29,500		—		—		29,500
Other income	5,789		176		3,029		(402)		8,592
Investment income	4,007		2,759		52		706		7,524
Total revenues	606,539		295,190		156,985		(33,540)		1,025,174
Expenses:
Inside advisor commissions	151,753		1,380		17,024		—		170,157
Fixed compensation	154,418		37,788		20,752		5,071		218,029
Benefits and other	72,052		21,930		14,499		5,518		113,999
Share-based compensation	14,919		7,437		2,785		8,378		33,519
Severance	8,926		515		1,815		975		12,231
Colleague compensation and benefits	402,068		69,050		56,875		19,942		547,935
Outside commissions(1)	8,629		124,311		39,783		(34,246)		138,477
Selling expense	23,236		4,616		5,963		4,443		38,258
Operating expense	56,173		57,491		11,745		152,872		278,281
Administrative expense	67,484		25,347		26,128		90,705		209,664
All other (income) expense, net(2)	7,946		5,176		1,905		(144,591)		(129,564)
Total expense	565,536		285,991		142,399		89,125		1,083,051
Net income (loss)	$	41,003	$	9,199	$	14,586	$	(122,665)	$	(57,877)

Other segment disclosures:
Loss on change in fair value of contingent consideration	$	5,403	$	6,880	$	1,989	$	—	$	14,272
Depreciation and amortization expense	65,201		21,057		26,050		3,570		115,878
Interest expense, net	1,663		3,721		14		79,168		84,566

Loss on extinguishment and modification of debt	—		—		—		7,538		7,538
Share of net earnings of equity method investee	—		1,175		—		—		1,175
Capital expenditures	4,661		14,464		7,002		1,721		27,848
	At June 30, 2026
Total assets	$	4,222,844	$	1,184,295	$	694,213	$	73,372	$	6,174,724

(1) During the six months ended June 30, 2026, the IAS operating group recorded commission revenue shared with other operating groups of $0.4 million and the UCTS operating group recorded commission revenue shared with other operating groups of $33.8 million. Commission revenue shared with other operating groups, and the related outside commissions, are eliminated through Corporate and Other.


	For the Six Months Ended June 30, 2025
(in thousands)	Insurance Advisory Solutions		Underwriting, Capacity & Technology Solutions		Mainstreet Insurance Solutions		Corporate and Other		Total
Revenues:
Commission revenue(1)	$	330,008	$	212,009	$	132,959	$	(36,871)	$	638,105
Profit-sharing revenue	28,973		7,313		8,014		—		44,300
Consulting and service fee revenue	44,580		2,951		—		—		47,531
Policy fee and installment fee revenue	—		37,664		—		—		37,664
Assumed premium earned	—		9,805		—		—		9,805
Other income	5,441		769		3,346		(181)		9,375
Investment income	1,936		2,173		114		1,213		5,436
Total revenues	410,938		272,684		144,433		(35,839)		792,216
Expenses:
Inside advisor commissions	96,794		315		16,261		—		113,370
Fixed compensation	107,480		29,960		19,521		4,762		161,723
Benefits and other	49,664		18,572		12,689		6,672		87,597
Share-based compensation	10,757		5,678		2,908		10,412		29,755
Severance	1,218		930		495		182		2,825
Colleague earnout incentives	(1,671)		(108)		—		—		(1,779)
Colleague compensation and benefits	264,242		55,347		51,874		22,028		393,491
Outside commissions(1)	6,438		131,879		38,144		(37,052)		139,409
Selling expense	12,522		3,145		7,860		4,357		27,884
Operating expense	29,036		28,511		11,300		15,978		84,825
Administrative expense	27,881		10,154		15,356		66,845		120,236
All other (income) expense, net(2)	5,956		(831)		742		747		6,614
Total expense	346,075		228,205		125,276		72,903		772,459
Net income (loss)	$	64,863	$	44,479	$	19,157	$	(108,742)	$	19,757

Other segment disclosures:
Loss (gain) on change in fair value of contingent consideration	$	6,670	$	(845)	$	279	$	—	$	6,104
Depreciation and amortization expense	27,385		9,743		15,139		2,850		55,117
Interest (income) expense, net	(1)		219		34		61,044		61,296
Loss (gain) on divestitures	(1,901)		—		—		1,611		(290)
Loss on extinguishment and modification of debt	—		—		—		2,394		2,394
Capital expenditures	2,689		7,924		5,712		3,985		20,310
	At December 31, 2025
Total assets	$	2,293,873	$	758,085	$	712,639	$	97,623	$	3,862,220

(1) During the six months ended June 30, 2025, the IAS operating group recorded commission revenue shared with other operating groups of $0.2 million and the UCTS operating group recorded commission revenue shared with other operating groups of $36.9 million. Commission revenue shared with other operating groups, and the related outside commissions, are eliminated through Corporate and Other.