Richard Bunch founds TWFG (The Woodlands Financial Group) 2001 in The Woodlands TX as independent insurance agency franchise network. Builds franchise model where agents own books but TWFG provides carriers + tech + ops — bridge between captive (State Farm/Allstate) and pure independent. Targets personal lines auto/home in Texas + Louisiana then expands nationally.

TWFG expands beyond Texas 2007-2008 into Louisiana + Mississippi + Florida — Gulf Coast personal lines focus. Richard Bunch's franchise model gives agents carrier appointments + tech without captive constraints of State Farm/Allstate. Pre-2010 building period.

TWFG (The Woodlands Financial Group) expands to 200+ branches by 2010 across Texas + Gulf Coast — Richard Bunch's franchise model with branded agencies. TWFG provides carrier appointments + tech + ops; agents own books. Foundation period for becoming major US franchise broker.

TWFG passes 400 agent locations 2015 across 18 states. Branded agencies write $400M+ premium. Family-controlled by Bunch family; Richard Bunch remains CEO. Pre-IPO years build national franchise brand presence in personal lines retail brokerage.

TWFG approaches 500 agent locations 2018 — significant geographic expansion beyond Texas/Louisiana into Florida + Carolinas + Arizona. Bunch family continues majority ownership. Pre-IPO years build national franchise brand presence in personal lines retail brokerage.

TWFG IPO Jul 17 2024 at $17/share raising $187M on Nasdaq — first US insurance agency franchise IPO since Goosehead 2018. Market cap $890M. Stock pops 11% first day to $18.95. Richard Bunch + family retain majority control. Combined branded agencies write $1.4B+ premium across 700+ agency locations.

TWFG IPO Jul 17 2024 at $17/share raising $187M on Nasdaq — first IPO from US insurance agency franchise space since Goosehead 2018. Market cap $890M. Stock pops 11% first day to $18.95. Richard Bunch family retains majority control. Combined branded agencies write $1.4B+ in premiums across 700+ agency locations.

TWFG FY2024 — Richard Bunch CEO reports $1.5B+ written premium across 750+ agencies in 33+ states. Stock $20 (vs $17 IPO Jul 2024). Goosehead competitor differentiates via Gulf Coast geographic focus + branded agency model (Goosehead emphasizes franchise + central service).

TWFG Q4 2025 — Richard Bunch CEO reports 750+ agent locations across 33+ states; $1.5B+ written premium 2025. TWFG's franchise model competes with Goosehead in personal lines independent agency expansion. Targets $2B premium by 2027.