• Baldwin Insurance average return on tangible equity for 2023 was 6.98, a 226.17% decline from 2022.
• Baldwin Insurance average return on tangible equity for 2022 was 2.14, a 32.92% increase from 2021.
• Baldwin Insurance average return on tangible equity for 2021 was 3.19, a 76.34% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.