Porch Group agrees to acquire Allied Trust insurance carrier, managing general agency
Bitget2026/10/13 20:06- Porch Group agreed to buy Allied Trust’s insurance carrier and managing general agency, expanding its insurance services footprint into Louisiana.
- Allied Trust operates in Louisiana, Texas, South Carolina, North Carolina; Louisiana accounts for almost half of its 2025 premiums.
- Deal projected to add about $200 million in reciprocal written premium, about $25 million in adjusted EBITDA in year one.
- Carrier purchase priced at $55 million cash, subject to closing adjustments, with $50 million deferred over 12 months.
- Managing general agency and captive reinsurance entity valued at $95 million, including $75 million cash and about $20 million in PRCH shares.
- Closing targeted for first quarter of 2027, pending approvals and customary conditions.
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