Reinsurance News
Porch
Porch Group’s Insurance Services segment drives 29% revenue increase for Q1’26
29th April 2026
Porch Group, a homeowners insurance and vertical software platform, reveals that its first quarter 2026 financial results have exceeded expectations, reporting shareholder interest revenue of $109.4 million, a 29% increase compared to the same period last year. This growth was primarily driven by the Insurance Services segment, which saw its revenue ... Read the full article
Porch Group renews partnership with Goosehead to support Reciprocal Exchange growth
18th June 2025
Porch Group, Inc., a homeowners insurance provider, announced the renewal of its partnership with Goosehead Insurance. Growing Porch Reciprocal Exchange insurance premiums in a profitable way is an important strategic objective for the Company. The renewed partnership with Goosehead is a step toward re-engaging agency partnerships and expanding its distribution channels. Matt Ehrlichman, ... Read the full article
Porch Group appoints Emmanuel Bellegarde as Head of Reinsurance
11th March 2025
Porch Group, a homeowners insurance and vertical software platform, has announced the addition of four insurance industry veterans to strengthen the organisation, including the appointment of Emmanuel Bellegarde as Head of Reinsurance. In his new role, Bellegarde will play a key part in driving the reinsurance strategy, structuring placements, and securing ... Read the full article
Porch forms homeowners insurance reciprocal exchange and sells HOA for $105m
7th January 2025
Porch Group, a homeowners insurance and vertical software platform, has completed the formation of Porch Insurance Reciprocal Exchange (PIRE), a new homeowners insurance reciprocal exchange, alongside the sale of Homeowners of America Insurance Company (HOA) to PIRE. This follows Porch receiving approval from the Texas Department of Insurance (TDI) in ... Read the full article
Porch receives approval from TDI to set up an insurance reciprocal exchange, PIRE
28th October 2024
Porch Group, a homeowners insurance and vertical software platform, has been approved by the Texas Department of Insurance (TDI) to form and licence Porch Insurance Reciprocal Exchange (PIRE), a new homeowners insurance reciprocal exchange. PIRE's establishment aligns with Porch's strategy to increase profitability and stabilise earnings in its insurance reporting segment ... Read the full article
Porch Group sees $110.8m of revenues, files updated application to form Reciprocal
8th August 2024
Porch Group, a homeowners insurance and vertical software platform, has reported total revenue of $110.8 million, which increased 12% compared to the same period the prior year, with an improved net loss of $64.3 million in the second quarter of 2024. In Q2 2024 the firm’s net loss grew compared to ... Read the full article
Porch Group sees net loss improvement in Q4 2023
8th March 2024
Porch Group, a homeowners insurance and vertical software platform, has reported a net loss of $2.5mn in the fourth quarter of 2023, an improvement from $35.5mn in Q4 2022; with a total revenue of $114.6mn, which increased 79% compared to the prior year. The company also reported a revenue less cost ... Read the full article
Aon and Porch enter $30m strategic agreement including release of Vesttoo fraud claims
26th January 2024
Porch Group, a software-driven financial services firm and Aon have entered into a $30 million strategic agreement whereby the re/insurance broker will provide services to the company. Interestingly, the agreement includes the release of all claims Porch had against the broker related to the Vesttoo fraud. This collaboration is with Aon ... Read the full article
Porch Group insurance carrier HOA released from regulatory supervision
6th November 2023
Software company Porch Group has announced that Homeowners of America Insurance Company (HOA), its wholly owned insurance carrier subsidiary, has been released from the Texas Department of Insurance (TDI) temporary regulatory supervision. According to the announcement, the TDI “is satisfied with HOA’s capital surplus, financials, and operating plan following Porch Group’s ... Read the full article
Porch announces cash investment in its insurance carrier HOA
28th September 2023
Porch Group has announced a cash investment of $57 million in its insurance carrier subsidiary, Homeowners of America Insurance Company (HOA), in exchange for both a $49 million surplus note from HOA and the acquisition of HOA’s rights to potential claims stemming from the letter of credit fraud connected to ... Read the full article
Porch’s HOA placed under temporary supervision by TDI
6th September 2023
Porch Group has announced that its insurance carrier, Homeowners of America Insurance Company (HOA), has been placed under temporary supervision by the Texas Department of Insurance (TDI) with regard to its exposure to the Vesttoo-linked letter of credit fraud, though has now replaced 84% of reinsurance affected by the issues. Read the full article
Porch discloses Vesttoo-linked charge of $48.2m in Q2 results
9th August 2023
Software-driven financial services firm Porch Group has revealed exposure to reinsurance contracts arranged via Vesttoo and has thus realised a charge of $48.2 million in its Q2 results. Porch noted that in Q3, Homeowners of America (HOA), a subsidiary of Porch Group, discovered that Vesttoo, which arranged capital for one of ... Read the full article
Porch Group anticipates $18m catastrophe loss in Q2
21st July 2023
Porch Group anticipates a $18 million catastrophic weather impact in the second quarter of 2023, due to extreme weather events in June. According to Porch, Q2 is often the worst and riskiest weather quarter of the year for the firm. "The second quarter of 2023 was on track until extreme weather events ... Read the full article
Porch applies to form reciprocal insurance exchange with Texas Department of Insurance
20th March 2023
Porch Group, Inc., a vertical software company has announced that its insurance business, Homeowners of America (HOA) has filed an application to form and license a Texas reciprocal insurance exchange with the Texas Department of Insurance (TDI). If the application is approved and fully implemented by Porch, its insurance underwriting business ... Read the full article
Porch revises financial statements after reinsurance error
15th March 2023
Software company Porch Group has had to revise its previously issued financial statements for the first three quarters of 2022, after identifying an “error” in the accounting of its reinsurance arrangements. As a result of this error, the company determined that the cost of revenue was understated by $4.0 million for ... Read the full article
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