During the first quarter of 2026, the Company initiated the Empower program to streamline the Company’s brokerage,

binding, and underwriting operations, optimize scale, accelerate data and technology strategies, and enhance efficiencies

across all of the Company’s Specialties. The restructuring plan is expected to incur total restructuring costs of $160.0

million, including $115.0 million related to business platform optimization and $45.0 million related to compensation and

benefits, through December 31, 2028, and to generate annual savings of approximately $80.0 million in 2029. Business

platform optimization includes expenses related to professional services, technology and data initiatives, license fees, and

third-party contractors, as well as non-cash expenses associated with the impairment of internally-developed software.

Compensation and benefits includes severance as well as employment costs for services rendered between the notification

and termination dates and other termination payments. The following table presents the restructuring expense incurred:


	Three Months Ended September 30, 2026	Nine Months Ended September 30, 2026
Business platform optimization	$10,839	$40,879
Compensation and benefits	13,248	21,103
Total	$24,087	$61,982

For the three and nine months ended September 30, 2026, the Company recognized restructuring expenses of $19.7 million

and $33.3 million, respectively, including contractor costs, in Compensation and benefits, and $4.4 million and $28.7

million, respectively, in General and administrative expense on the Consolidated Statements of Income. General and

administrative expense recognized during the nine months ended September 30, 2026, included $11.7 million related to the

The following table presents a summary of changes in the restructuring liability:


	Business Platform Optimization	Compensation and Benefits	Total
Balance at January 1, 2026	$—	$—	$—
Charges	62,521	21,103	83,624
Payments	(34,881)	(12,643)	(47,524)
Non-cash adjustments	(11,704)	—	(11,704)
Balance at September 30, 2026	$15,936	$8,460	$24,396

Charges in the table above include both costs expensed and capitalized during the period. As of September 30, 2026, $7.2

million of the restructuring liability was included in Accounts payable and accrued liabilities, and $15.4 million and $1.8

million were included in Current Accrued compensation and Non-current Accrued compensation, respectively, on the