THE WOODLANDS, Texas, April 21, 2020 /PRNewswire/ -- TWFG Insurance Services, LLC (TWFG), is pleased to announce it has completed the acquisition of Panoptic Insurance's personal and commercial insurance business. The acquisition is effective April 17, 2020.
TWFG Insurance Services is a full service, national retail insurance agency with over 386 locations in 18 states and approximately $610 million of premium. The acquisition marks another important step forward for TWFG as the company continues to deepen its specialty service offerings, broaden its national footprint, and continue its steady growth trajectory.
TWFG has been ranked by Insurance Journal as #1 in Texas and Louisiana among privately-owned, independent insurance agencies for personal lines, #10 nationally for personal lines and #27 nationally for all lines of business.
Gordy Bunch, founder and President of TWFG commented, "This is an exciting opportunity for us. This acquisition increases the value we can deliver to our agency partners, strengthens our well-defined business model, and adds thousands of customers to the TWFG family."
Arden Hetland, President of Panoptic Insurance added, "We are incredibly proud of what we have achieved with Panoptic over the years and the quality of service we have provided to our customers. With shared values, heritage and community, we are confident TWFG will continue its long tradition of putting customers first."
About TWFG Insurance Services LLC
TWFG Insurance Services LLC, headquartered in The Woodlands, Texas, is privately-owned national retail insurance services company and a wholly owned subsidiary of The Woodlands Financial Group, which includes TWFG General Agency LLC, TWFG Premium Finance LLC and The Woodlands Insurance Company. The Woodlands Financial Group was founded in 2001 by Richard F. "Gordy" Bunch III and has steadily grown to approximately $850 Million in written premium. For more information, please visit www.twfg.com.
About Panoptic Insurance
Panoptic® Insurance, headquartered in The Woodlands, Texas, is a privately-owned national independent insurance agency that provides comprehensive insurance solutions. Panoptic Insurance was founded in 2008 by Arden Hetland in an effort to provide a "consumer first" insurance solution, giving them the knowledge needed to properly protect their assets.
For more information, please contact:
Katherine Nolan, TWFG Chief Operating Officer, [email protected], 281-466-1117
SOURCE TWFG Insurance Services, LLC