TWFG, which distributes property & casualty insurance with a focus on personal and small business, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Also known as The Woodlands Financial Group, TWFG distributes personal and commercial property & casualty insurance in the US. Its distribution platform encompasses over 400 Branches across 17 states and the District of Columbia within its Insurance Services offering, and over 2,000 MGA Agencies across 41 states within its TWFG MGA offering. The company states that, based on revenue, it is the seventh largest personal lines agency in the US and the 26th largest agency across all lines of business.
Based in The Woodlands, TX, the company was founded in 2001 and booked $179 million in revenue for the 12 months ended March 31, 2024. It plans to list on the Nasdaq under the symbol TWFG. TWFG filed confidentially on January 19, 2024. J.P. Morgan, Morgan Stanley, BMO Capital Markets, Piper Sandler, RBC Capital Markets, UBS Investment Bank, Keefe Bruyette Woods, and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.
