TWFG: "2012 Growth And Premiums Exceeded All Expectations"
THE WOODLANDS, Texas, Jan. 24, 2013 /PRNewswire/ -- Holding a two-page list of 2012 results, Richard 'Gordy' Bunch, president and CEO of The Woodlands Financial Group, addressed a packed room of staff personnel and agents, enumerating records in almost every area of the financial services company's sales, operations, and growth. He congratulated the TWFG team for "exceeding all expectations."
Bunch reported a 28 percent growth with premium sales rising to $267,201,399, surpassing the company's planned 25 percent increase for 2012. He also reported that TWFG Insurance Services is ranked 51 in the "Top 100*" privately-held Property/Casualty agencies based on the prior year's premium sales. TWFG's growth made it the 13 th-ranked "Personal Lines Leader*" with $166,845,986 in premium sales. The sales ranking enabled TWFG to emerge as the "number-one-ranked" independent Personal Lines agency in Texas. Bunch reminded the staff that he founded the company in Texas in 2001 with $10,000 – perhaps scoring the most rapid rise ever for an independent agency's growth to number one in its home state in little more than 10 years. He estimated that the company and its agents now serve more than 200,000 clients.
Contributing to TWFG Insurance Services growth was expansion of its company branches and independent affiliates network. In 2012, another 72 TWFG branches were opened nationally increasing active branches to 290. General agents increased by 214 and another 74 referral agents were added. There are now almost 3,000 General Agents serving clients under the TWFG banner. TWFG agents operate in 38 states and TWFG sells insurance in 49 states.
Bunch announced a physical expansion of TWFG headquarters in its office location at The Woodlands Mall, just north of Houston. With 63 employees already on board, another 3,500 square feet will grow the headquarters to 12,000 square feet with more offices and cubicles, a new training facility, and a new conference room.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts