TWFG has released its preliminary unaudited financial results for the fourth quarter and full year ended Dec. 31, 2024.
TWFG expects total revenue for the fourth quarter to range between $49 million and $51 million, representing an increase of between 23.8% and 28.9% compared to the same period in 2023.
The company anticipates total revenue for full-year 2024 to be between $201 million and $203 million, reflecting an increase of between 16.5% and 18.2% compared to full-year 2023.
Total written premium for the fourth quarter is expected to be approximately $361 million, reflecting a 20% increase compared to the fourth quarter of 2023.
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.
For full-year 2024, the company anticipates total written premium of approximately $1.5 billion, reflecting an 18% increase over full-year 2023.
TWFG also expects its organic revenue growth rate for the fourth quarter to range between 20.2% and 20.8%, with full-year 2024 organic revenue growth rate expected to be between 14% and 15%.
In 2023, TWFG reported total revenue of $172.93 million for the fiscal year, which itself is a marked 12.35% increase from $153.92 million in 2022. The company also achieved a net income of $26.1 million in 2023, up 26.59% from $20.61 million in 2022.
Earlier this year, the company also announced that it has expanded its national presence through the recruitment of startup agencies and strategic acquisitions.
In the previous year, 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.
Founder and CEO Gordy Bunch (pictured above) highlighted the importance of adapting to industry changes, saying that ongoing growth requires attracting professionals who are committed to building the company’s future.
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