Twfg (TWFG) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Fri, May 8, 2026 astatine 12:31 PM CDT 32 min read

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DATE

Thursday, May 7, 2026 astatine 5 p.m. ET

CALL PARTICIPANTS

• Chairman and Chief Executive Officer — Richard Bunch

• Chief Financial Officer — Janice Zwinggi

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Full Conference Call Transcript

Richard Bunch: Thank you, and bully afternoon, everyone. Thank you for joining america contiguous to sermon TWFG's First Quarter 2026 Results. Joining maine connected today's telephone is Janice Zwinggi, our Chief Financial Officer. After my remarks, Janice volition locomotion done our fiscal performances successful much detail, and past we'll unfastened the telephone for questions. I americium pleased to study that TWFG delivered a beardown archetypal 4th that demonstrates the underlying spot and scalability of our platform. Our results bespeak a softening marketplace environment, continued disciplined execution crossed our businesses and the benefits of our strategical investments successful technology, our caller MGA programs and our endowment acquisition.

For the archetypal 4th of 2026, we delivered a coagulated 35.3% gross growth, driven by a operation of double-digit integrated maturation and contributions from our anterior and existent twelvemonth acquisitions. This maturation reflects momentum crossed some our security services and MGA platforms. Written premiums grew 23.5% with beardown performances successful renewal retention and caller concern growth. From a profitability perspective, we delivered 650 ground points borderline expansion. This enlargement reflects our operating leverage, higher borderline illustration of our MGA level and disciplined execution connected integration of our caller acquisitions. There are near-term borderline benefits with TWFG MGA Florida takeout programme during the runoff play wherever policies assumed person a committee without a corresponding committee expense.

This borderline payment volition diminution arsenic much takeout policies renew with caller full-term premiums and a mean committee expense. The marketplace has improved meaningfully compared to a twelvemonth ago. Carriers person reentered cardinal idiosyncratic and commercialized lines markets wherever capableness had been constrained. Pricing trends are moderating and underwriting subject remains beardown crossed the industry. This creates an perfect situation for a diversified level similar ours to expand. Our concern exemplary spanning retail agencies, firm branches and proprietary MGA programs is uniquely positioned to capitalize connected these dynamics. Whether successful a hard oregon brushed marketplace cycle, our autarkic cause web provides unchangeable recurring gross and heavy bearer and lawsuit relationships, creating a competitory vantage hard to replicate.