The Woodlands Financial Group (TWFG) and Austin Indemnity Lloyds Insurance Company (AILIC) announced that TWFG will acquire the renewal rights of the personal lines homeowners business of AILIC, effective Aug. 15, 2008.
TWFG General Agency, a subsidiary of TWFG, will provide service for impacted homeowner’s policies previously offered through AILIC.
Austin Indemnity, based in Austin, has approximately 5,700 homeowners policies in Texas. Both agents and existing policyholders will begin to receive notification of the transition in July. In order to place business following the transition, all AILIC Agents are encouraged to contact TWFG for an appointment.
TWFG will offer new and renewal policies utilizing consistent systems and software, in addition to using the same forms, rates and guidelines previously used by AILIC.
Richard “Gordy” Bunch, president and CEO of TWFG said the transitions will be “seamless” for both agents and policyholders.
Gordy founded The Woodlands Financial Group in 2000 as an independent insurance agency and financial services firm in The Woodlands, Texas, north of Houston. TWFG offers access to many products and programs, including property and casualty business.
TWFG has grown to include a full service general agency providing markets and support to more than 150 exclusive branch office locations and 850 independent agencies across 13 states. TWFG’s combined written premium in 2007 topped $110 million.
Source: TWFG
Topics Mergers & Acquisitions
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