Reinsurance News

Goosehead hits $1bn premium milestone

25th November 2020 - Author: Matt Sheehan

Goosehead Insurance, an independent personal lines insurance agency, has surpassed $1 billion in total premium placed for the trailing twelve months ending October 31, 2020.

“This is an important and gratifying milestone for our firm as we progress towards our long-term goal of US personal lines industry leadership,” said Mark E Jones, Chairman and Chief Executive Officer of Goosehead.

Goosehead grew its revenues by 51% to $32.0 million during the third quarter of 2020, compared to $21.2 million in Q3 2019.

For the nine-month period, the company posted revenues of $82.4 million this year, compared to $63.7 million previously.

Net income came to $6.7 million and $13.8 million for the Q3 and 9M periods this year, respectively.

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“For the trailing 5 and 10 years ending October 2020, we have achieved compound annual premium growth of 45% and 37%, respectively,” Jones continued.

“Since our initial public offering in April of 2018 through the end of October 2020, we have grown total written premiums placed 47% on a compound annual basis. Our success has been a result of the consistent and meaningful investments we have made in people and technology over the last decade.”

He went on: “We are well positioned for a strong finish to 2020 and our ongoing investments should fuel significant growth into 2021 and beyond. This exceptional performance would not be possible without the dedication and tireless efforts of our talented corporate employees and franchises.”

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