A national independent insurance distribution platform, TWFG (short for The Woodlands Financial Group) helps individuals and businesses find auto, home, life, health, and commercial coverage by connecting them with hundreds of different insurance carriers through its network of agents. Founder Richard "Gordy" Bunch III started the company in The Woodlands, Texas, in 2001 with a small amount of capital, just days before the September 11 attacks. The CEO has joked that the "G" in TWFG could stand for "Growth," reflecting how the small startup grew into a major national player that went public on the Nasdaq in 2024.
TWFG enters amended credit agreement for $125M revolving facility
On August 12, 2026, TWFG, Inc. entered into an Amended and Restated Credit Agreement with TWFG Holding Company, LLC as borrower and PNC Bank as administrative agent.
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The new credit facility provides a $125 million revolving credit facility, including a $12.5 million swingline sub-facility and a $12.5 million letter of credit sub-facility.
The facility matures on August 12, 2031, and includes an uncommitted accordion feature allowing up to an additional $75 million in commitments, for potential total capacity of $200 million.
Borrowings under the facility bear interest at Term SOFR or Daily SOFR plus an applicable margin between 1.75% and 2.75%, with swingline loans at a lower margin.
The obligations are guaranteed by TWFG and certain subsidiaries and secured by substantially all assets of the borrower and guarantors.
1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
TWFG Chief Accounting Officer Eugene N. Padgett resigns; CFO Janice Zwinggi appointed as successor.
Padgett's resignation was not due to any disagreement with the Company on accounting practices, financial reporting, or operations.
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Eugene N. Padgett resigned as Chief Accounting Officer of TWFG, Inc., effective July 21, 2026.
Janice Zwinggi, the Company's Chief Financial Officer, was appointed Chief Accounting Officer (Principal Accounting Officer) effective the same date, in addition to her CFO role.
No new compensatory arrangements were entered into with Ms. Zwinggi in connection with the additional role.
Ms. Zwinggi has no family relationships with directors or executive officers and no material interest in any related-party transactions requiring disclosure.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
TWFG stockholders elect six directors and ratify Deloitte as auditor at 2026 annual meeting
All six director nominees were elected: Richard F. Bunch III, Michael Doak, Jonathan Anderson, Michelle Caroline Bunch, Robin A. Ferracone, and Janet S. Wong.
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TWFG, Inc. held its 2026 Annual Meeting of Stockholders on May 27, 2026.
The ratification of Deloitte & Touche LLP as independent auditor for fiscal year 2026 passed with 352,121,435 votes for, 28,096 against, and 50,625 abstentions.
Approximately 85.15% of the voting power (352,200,156 votes) was present at the meeting.
The report was filed under Item 5.07 to disclose the voting results of the annual meeting.
5.07 Submission of Matters to a Vote of Security Holders · 9.01 Financial Statements and Exhibits
TWFG Q1 2026 revenue up 35.3% to $72.8M, net income $13.1M, reaffirms guidance
Total revenues for Q1 2026 increased 35.3% to $72.8 million from $53.8 million in the prior year period.
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Net income for the quarter was $13.1 million, compared to $6.9 million in the prior year period, with net income margin of 18.0%.
Adjusted EBITDA increased 73.9% to $21.2 million, with Adjusted EBITDA margin expanding 650 basis points to 29.1%.
Total Written Premium increased 23.5% to $458.2 million, and Organic Revenue Growth Rate was 10.1%.
Company repurchased approximately $40 million of shares under a $50 million authorized plan, with about $10 million remaining.
Reaffirmed full-year 2026 guidance: total revenue growth of 15% to 20% ($285M-$300M), Adjusted EBITDA margin of 22% to 25%, and organic revenue growth of 10% to 15%.
2.02 Results of Operations and Financial Condition
TWFG reports Q4 2025 revenue up 33% to $68.8M, net income $14.4M
Fourth quarter 2025 total revenues increased 33.0% to $68.8 million from $51.7 million in the prior year period.
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Fourth quarter 2025 net income was $14.4 million, compared to $8.2 million in the prior year period, with net income margin of 20.9%.
Fourth quarter 2025 Adjusted EBITDA increased 56.9% to $21.7 million, with Adjusted EBITDA margin of 31.6%.
Full year 2025 total revenues increased 21.3% to $247.1 million, and net income was $39.8 million.
Board approved a share repurchase program of up to $50 million of Class A common stock.
2026 guidance: total revenues expected between $285 million and $300 million (15-20% growth), Adjusted EBITDA margin 22-25%, organic revenue growth 10-15%.
2.02 Results of Operations and Financial Condition · 8.01 Other Events · 9.01 Financial Statements and Exhibits
TWFG appoints Katherine C. Nolan as President, effective November 7, 2025
Ms. Nolan has served as Chief Operating Officer since 2009 and previously held leadership roles at Affirmative Retail Inc., Affirmative Insurance Holdings, and Bristol West Insurance Company.
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Katherine C. Nolan, age 64, was appointed President of TWFG, Inc. by the Board of Directors on November 7, 2025.
No new compensation arrangements, grants, or awards were made in connection with her appointment; her existing compensatory arrangement is described in the April 11, 2025 proxy statement.
There are no family relationships or arrangements with other persons that led to her selection as an officer, and she has no material interest in any reportable transaction.
The company also reported third quarter 2025 results, including total revenues of $64.1 million, up 21.3% year-over-year.
2.02 Results of Operations and Financial Condition · 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
TWFG reports Q2 2025 revenue up 13.8% to $60.3M, net income $9.0M
Total revenues for Q2 2025 increased 13.8% to $60.3 million from $53.0 million in the prior year period.
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Net income for Q2 2025 was $9.0 million, compared to $6.9 million in the prior year period, with net income margin of 14.9%.
Total Written Premium increased 14.4% to $450.3 million from $393.6 million in the prior year period.
Adjusted EBITDA increased 40.7% to $15.1 million, with Adjusted EBITDA Margin expanding to 25.1% from 20.3%.
The company updated full-year 2025 guidance: total revenues between $240 million and $255 million, organic revenue growth rate of 11% to 14%, and Adjusted EBITDA margin of 21% to 23%.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits