Aug 13

TWFG Records 31% Increase in Premiums; Advances Number 51 in Top 100 Insurance Rankings

THE WOODLANDS, TX, Aug. 13, 2012 – The Woodlands Financial Group (TWFG) recorded a 31.29 percent increase in insurance premium sales last year and is now ranked nationally at number 51 in the industry’s “Top 100” listing of privately-held property/casualty agencies, president and CEO Richard “Gordy” Bunch announced today.

 

With total P/C premiums of $208,751,093 in 2011, a record increase over 2010’s $159,000,000, TWFG moves up from 67 to number 51 in the respected Insurance Journal’s “Top 100” annual rankings. Bunch, who founded the firm in 2001 with $10,000, told employees this was the company’s “Sweet 16” party – having jumped 16 spaces in one of the industry’s benchmarks of national success. The company’s revenue results surpassed even its premium results – reaching 44^th place with Total P/C Revenue in 2011 of $31,312,664.

 

TWFG is based in The Woodlands, TX just north of Houston, and represents more than 200 insurance companies. TWFG offers personal and commercial insurance services through almost 300 company-owned branches in 16 states and almost 3,000 affiliated independent agents in 49 states. Last month it launched an aggressive campaign to attract more “captive” agents (agents who are obligated to sell exclusively for a single insurance provider) by offering an exclusive new branch agent program with what Bunch called “unprecedented benefits” for potential branch owners. His agency is offering a commission split of 80/20 for “TWFG Full Service” branches and with full technological and agent support teams available. A “Managing General Agent” Program and a “Referral Program” are also being offered. All are aimed at offering captive agents more benefits while growing TWFG’s presence in the industry and marketplace.

 

The forty-year-old entrepreneur is currently enjoying what he calls a “Grand Slam” of good news in just a few months:

1. TWFG was named one of FEMA’s three National Agency-of-the-Year flood award winners.
2. Bunch was nominated as 2012 Entrepreneur of the Year in the Gulf Coast Area.
3. He was successfully elected as a Director of The Woodlands Township, his community’s governing body, as well as its treasurer.
4. TWFG is realizing record growth in sales, agent expansions, and 51^st in national rankings during these “down economic times.”

 

 

For further Media Information:

Gordy Bunch

gordy@twfg.com

713-416—0789 cl

281-466-1123 Wk.

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