WFG Reports Q2 Results
September 2, 2021
Williston Financial Group (WFG) reported that its 2021 net revenue is up 45 percent during the first half of 2021 when compared to the same period a year ago.
"Last year was a banner year for us and we are excited to report with confidence that WFG is well on the way to surpassing those historic 2020 revenue figures in 2021," said Steve Ozonian, president and CEO of WFG.
During the first half of 2021, gross and net revenue for WFG’s agency operations rose 57 and 53 percent, respectively, over the same period in 2020. The company’s claims reserves are also up year-over-year by 23 percent, with policy surpluses up 105 percent during the first six months of 2021.
The number of agents in WFG’s agency channel also grew by 7% year-over-year, with nearly 1,600 active agents during the first half of 2021.
"We believe the rapid growth of our agent network is largely attributable to the popularity of our unique agency model, which leverages WFG’s national coverage and local expertise to provide cost-effective solutions and operational efficiencies through our WFG Blocks program, which enables agents to convert fixed costs to variable ones," said Gene Rebadow, executive vice president of agency operations for WFG.
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