TWFG Insurance Services has concluded the acquisition of personal and commercial insurance business of Panoptic Insurance.
Panoptic Insurance is an independent insurance agency headquartered in Texas. It was established by Arden Hetland in 2008.
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The deal, which is effective 17 April, is part of TWFG’s strategy to widen its specialty service offerings.
It is also expected to help the company in expanding its footprint across the US and maintain its growth curve.
TWFG founder and president Gordy Bunch 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.”
Panoptic Insurance president Arden Hetland 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.
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By GlobalData“With shared values, heritage and community, we are confident TWFG will continue its long tradition of putting customers first.”
TWFG Insurance Services, which is also headquartered in The Woodlands, Texas, is a privately-owned national retail insurance services company.
It is a wholly-owned subsidiary of The Woodlands Financial Group, which comprises TWFG General Agency, TWFG Premium Finance, and The Woodlands Insurance Company.
With over 386 locations in 18 US states, TWFG Insurance Services generates nearly $610m of premium per year.
