TWFG Inc. released its third-quarter 2024 financial results on November 12, 2024. The company reported a net income of $6.9 million for the quarter, compared to $7.1 million in the same period the previous year.
Total revenues for the quarter increased by 17.4% to $53.3 million, up from $45.4 million in the prior year period. The total written premium for the quarter rose by 20.3% to $393.6 million, compared to $327.2 million in the same period the previous year. The company also reported an adjusted net income of $9.8 million for the quarter, an 18.1% increase over the prior year period, with an adjusted net income margin of 18.4%. Adjusted EBITDA for the quarter increased by 25.8% over the prior year period to $10.8 million, with an adjusted EBITDA margin of 20.2%.
TWFG’s Founder and CEO, Gordy Bunch, stated, “We delivered a strong second quarter and our value proposition to independent and captive agents continues to resonate in the marketplace.
