TWFG
Compare TWFG…Independent P&C agency network; IPO Jul 2024 at $440M, traded up to ~$900M. Rare profitable insurtech IPO; broker-aggregator model.
SectorsInsurance
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TWFGIndependent P&C agency network; IPO Jul 2024 at $440M, traded up to ~$900M. Rare profitable insurtech IPO; broker-aggregator model.
The independent-agency network growth story. TWFG places premium across 3,300+ agencies (550+ exclusive Branches in 34 states + 2,750+ MGA agencies in 43 states by year-end 2025). Branch count shown in tens for visual scaling alongside premium ($M).
FY 2020 — FY 2025
Source: TWFG S-1 (Jul 2024) + 10-K filings (Updated: 2025-FY)
TWFG earns commission on insurance placed by its agency network, plus smaller streams from contingent income (carrier profit-share), fees, and other income. Commission is ~89-90% of revenue; the mix has stayed stable as the business scaled from $102M to $248.5M (2020-2025).
FY 2020 — FY 2025
Source: TWFG S-1 (Jul 2024) + 10-K filings (Updated: 2025-FY)
Quarterly breakdown of revenue by product line and service category
2024-Q3 — 2026-Q1
Data from SEC filings via FMP • 7 periods available