AMALY — SHARIAH COMPLIANCE REPORT ================================== Symbol: BWIN Report Date: 2026-06-22 Full Report: https://amaly.io/stock/BWIN EXECUTIVE SUMMARY ------------------ Compliance Status: NON_COMPLIANT Quality Rating: B Description: The Baldwin Insurance Group, Inc. (BWIN), an independent insurance broker in the Financial Services sector, undergoes rigorous Shariah compliance screening revealing significant challenges. The company's core business in conventional insurance distribution involves elements of riba (interest), gharar (uncertainty), and maysir (gambling), rendering it non-compliant under major standards. Financial ratios further exacerbate issues, with a debt-to-market-cap ratio of 70.16% far exceeding thresholds and interest income at 8.77% surpassing permissible limits. While ESG factors show low risk and strong governance, these do not offset the fundamental business and financial non-compliance. Overall, BWIN is classified as non-compliant, suitable only for monitoring or avoidance by Shariah-conscious investors, with alternatives in takaful recommended. Primary Compliance Concerns: - High debt ratio of 70.16% exceeding all thresholds - Conventional insurance brokerage as core activity involving riba and gharar - Interest income ratio of 8.77% above 5% limit Purification Requirement: 8.77% Index Inclusion: Excluded from all major Shariah indices KEY FINANCIAL METRICS ---------------------- Debt Ratio: 70.2% Liquidity Ratio: 3.5% Interest Income Ratio: 8.8% Purification Required: 8.77% INDEX INCLUSION STATUS ----------------------- S&P Shariah: EXCLUDED MSCI Islamic: EXCLUDED DJIM: EXCLUDED FTSE Shariah: EXCLUDED Total: 0 of 4 Last Verified: 2025-11-30 REPORTING PERIOD ----------------- Latest Annual Report: FY 2025 Latest Quarterly Data: Q4 2025 Trend Period: FY 2020 to FY 2025 Data Retrieved: 2026-02-28T12:00:00Z --- Full interactive report: https://amaly.io/stock/BWIN Provided by Amaly (https://amaly.io) — Shariah Compliant Stock Screener Disclaimer: This data is for informational purposes only and does not constitute financial or religious advice.