Jul 09

U.S. Insurance Agency Authorized as Lloyd’s of London Coverholder

LONDON, July 9, 2013 – Lloyd’s, the 325-year old London “World’s Specialist Insurance Market,” has appointed Texas-based TWFG Insurance Services as an approved coverholder, which authorizes the agency to enter into contracts of insurance and to issue insurance documentation under a Lloyd’s registered binding authority. Richard “Gordy” Bunch, 40-year-old founder, president and CEO of The Woodlands Financial Group, received official documentation today at Lloyd’s London headquarters.

Bunch launched TWFG little more than a decade ago with $10,000 capital. He has now advanced and committed his national company to the Lloyd’s Code of Practice for Delegated Underwriting. TWFG is currently ranked high in the “Top 100” by an insurance trade journal and headquartered in The Woodlands, Texas with more than 300 branches and 3,000 agents in 38 states. He will have access to Lloyd’s comprehensive worldwide Marketing Intelligence Toolkit which compares countries, provides high-level statistics for their economy, updated news on the insurance market, and Lloyd’s business. Lloyd’s also provides coverholders with other country profiles, market presentations, and “Class Reviews” of competitive data by specialty class of business.


How do you build an entrepreneur whose influence and success is born in San Diego and then spans Texas, the U.S., and the ocean to London? Do you give him four years of service in the U.S. Coast Guard? Plant him in Texas, a land of uncommon opportunity? Provide him with a slogan that says “Our Policy is Caring?” If this is the formula for success, it would help to explain Richard “Gordy” Bunch and the remarkable achievements he is scoring in his business and community life. TWFG was founded by 40-year-old entrepreneur Richard “Gordy” Bunch little more than a decade ago in 2001 with $10,000 capital. Today, TWFG consists of retail and wholesale insurance services, a premium financing company, financial advisors, and software programs providing consultative products to operate a branch insurance agency. TWFG reported a 28% increase in premium sales in 2012 to $267,202,399. The company also won a national FEMA agency-of-the-year award for its flood insurance sales and marketing results. Bunch was nominated as Entrepreneur-of-the-Year in the Gulf Coast area and was recently elected to the board of directors of The Woodlands Township, TWFG’s hometown community government. It is ranked second in the nation in home sales and has been first in Texas for more than 20 years. Bunch and his wife, Michelle, reside in The Woodlands where they are raising three young boys and are active in community and political affairs. The Woodlands, located just north of Houston, has a population of more than 100,000 people and more than 1,755 employers and almost 50,000 jobs.


For Media Information: Bunch Photo Attached

Gordy Bunch – 281-466-1123 office / 713-416-0789 cl

Paul Lazzaro – 281-728-5704

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