Porch to acquire Allied Trust, adding $200 million in reciprocal written premium

By Michael Loney Oct 13 (The Insurer) — Porch Insurance Reciprocal Exchange and Porch Group have entered into a definitive agreement to acquire Allied Trust’s insurance carrier and managing general agency, which will add around $200 million in reciprocal written premium. Allied Trust is a regional insurance carrier operating in Louisiana, Texas, South Carolina and North Carolina. Louisiana represented almost half of Allied Trust’s 2025 premiums and would be a new state for the Porch Group’s reciprocal. The acquisition is expected to add about $25 million of adjusted EBITDA, excluding reciprocal, to Porch Group. Under the terms of the agreement, the reciprocal will acquire Allied Trust’s insurance carrier for an initial base price of $55 million in cash, subject to adjustments for the carrier’s statutory surplus and indebtedness at closing, plus $50 million of deferred consideration payable over the 12 months following closing. Separately, Porch Group will acquire Allied Trust’s MGA and captive reinsurance entity for an aggregate base purchase price of $95 million, consisting of $75 million in cash and an expected $20 million in Porch Group shares. Based on Allied Trust’s expected a