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Williston Financial Group had a record breaking 2020 with a 46% increase in revenue. The company is on track to eclipse that according to mid-year figures.
Williston Financial Group is a Portland-based, full-service provider of title insurance and real estate settlement services for commercial and residential transactions nationwide. After experiencing record-breaking revenue in 2-2020, the company reported that 2021 gross revenues are on track to rise by another 50% eclipsing 2020’s record figures. At midyear 2021, gross revenues are already up more than 50%, with net revenues up 45%.
WFG’s Agency Operations have also experienced growth. During the first half of 2021, gross and net revenue figures rose 57% and 53%, respectively, over the same period in 2020. The company also claims that reserves are also up year-over-year by 23%, with policy surpluses up 105% 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 WFG executive vice president, Agency Operations, Gene Rebadow.
WFG’s overall market share increased year-over-year by 14.5% between Q1 2020 to Q1 2021. The company expects its market share to continue to grow through the balance of the year.
