The Woodlands Financial Group has completed the sale of a minority interest in its capital stock to RenaissanceRe Ventures U.S. LLC.
The transaction will provide a capital infusion that Woodlands, Texas-based TWFG will direct toward expediting national growth. Terms of the deal were not disclosed.
Michael Doak, president of RenaissanceRe Ventures U.S. LLC, has joined the TWFG board of directors.
RenaissanceRe Ventures U.S. LLC is a subsidiary of RenaissanceRe Holdings Ltd., which provides property, specialty and casualty reinsurance. The company is based in Bermuda.
TWFG has more than 350 retail branches in 22 states and 3,000 independent agent affiliations in 38 states.
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