TWFG Becomes Industry Leader With Top 100 Leap
THE WOODLANDS, Texas, Sept. 17, 2013 /PRNewswire/ -- The Woodlands Financial Group (TWFG) jumped from number 51 to the 30th spot in Insurance Journal's list of Top 100 independent property and casualty insurance agencies in the United States. TWFG president and CEO, Gordy Bunch, said he received notification of the prestigious national ranking based on TWFG's agency record of $267 million in premium sales resulting in revenues of more than $34 million.
Bunch launched the firm in The Woodlands in 2001 with a $10,000 capital investment. The entrepreneur said he is delighted that TWFG has been able to compile such a successful record along with national recognition - rising to the top echelons of such a highly competitive business in little more than a decade. According to a 2012 survey by Insurance Journal, there are 38,500 independent agencies in the United States. TWFG also achieved international recognition this summer when appointed and approved as a coverholder by Lloyd's of London.
Bunch said his original business model, which combines both wholesale and retail products, was "creatively fine-tuned to take advantage of new product opportunities" during the recent economic downturn. This forward-thinking approach resulted in a 27 percent growth rate for TWFG as it reaches towards its long-term plan to achieve one billion dollars in sales. He also credits his personal pledge and promise, "Our Policy is Caring," for TWFG's success with customers, agents, and employees.
TWFG currently operates 314 retail branches in 20 states and has affiliations with 3,000 independent agents in 38 states. TWFG writes policies in 49 states from its headquarters in The Woodlands. Bunch is also an elected member of The Woodlands Township board of directors. Asked about his "secrets of success" by Woodlands Online, a local media outlet, Bunch said, "It takes a personal commitment in time and effort to get to this level. Most people don't want to make that kind of commitment – working nights and weekends, for example. To achieve success, you have to go above and beyond what others in your field are doing." He advises that "failure is not an option. You need to set goals and put forth the effort to reach those goals."
SOURCE The Woodlands Financial Group