TWFG Insurance expands nationally with new agencies in 15 states

Strategic M&A deals and agent recruitment drive company growth

TWFG Insurance expands nationally with new agencies in 15 states

Insurance News

By Kenneth Araullo

TWFG Insurance has expanded its national presence through the recruitment of startup agencies and strategic acquisitions.

In 2024, insurance agents from 15 states – Colorado, Connecticut, Idaho, Indiana, Missouri, Nevada, New Mexico, Oregon, South Carolina, South Dakota, Tennessee, Washington, Utah, Vermont, and Wyoming – joined the company. 

Chief operations officer Katherine Nolan (pictured above) emphasized that cultural alignment is a priority when considering new agencies.

"We start with cultural fit when evaluating new prospects to join TWFG, as integration into our brand, our business practices, and culture are crucial for long-term success. We seek out successful entrepreneurial insurance professionals who are committed to growth and serving their communities with Integrity,” Nolan said.

TWFG's expansion strategy has also involved acquiring established agencies and bringing in experienced industry leaders.

Founder and CEO Gordy Bunch highlighted the importance of adapting to industry changes, saying that ongoing growth requires attracting professionals who are committed to building the company’s future. 

"The insurance industry has changed, but one thing never changes – the need to continually evolve and grow and to bring in passionate insurance professionals who want to be part of building a great company,” Bunch said.

TWFG Insurance, founded in 2001, is licensed in all 50 states and is headquartered in The Woodlands, Texas. The company operates 520 retail locations and 14 corporate offices across the country.

In November, the firm announced results for the third quarter ended Sept. 30, 2024. 

Total written premium for the quarter increased 13.0% to $400.1 million, compared to $354.1 million in the same period in the prior year. Total revenues for the quarter increased 14.5% to $54.6 million, compared to $47.7 million in the same period in the prior year.

Organic revenue growth rate for the quarter was 7.6%. Net income for the quarter was $6.9 million, compared to $7.6 million in the same period in the prior year.

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