Reinsurance News

reciprocal insurance

US P&C market sees wave of growth in reciprocal insurance exchanges: ALIRT

31st October 2025

Reciprocal insurance exchanges (RIEs) in the U.S. have seen a wave of growth as new entrants emerge to address capacity shortages in property markets, particularly across the southern coastal states, according to ALIRT Insurance Research. ALIRT’s latest industry analysis, “Overview of Reciprocal Insurance Exchanges and Recent Market Trends,” found that 36 ... 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

SageSure partners with new reciprocal exchange Auros

7th November 2024

Managing general underwriter SageSure and Auros Reciprocal Insurance Exchange, a Mississippi-domiciled property insurer, have partnered to launch homeowners solutions to Louisiana and Mississippi. Auros is the third reciprocal exchange formation supported by SageSure, following the introduction of SureChoice Underwriters Reciprocal Exchange (SURE) and Elevate in 2021 and 2022, respectively. This new reciprocal ... Read the full article

KBRA assigns rating to new Florida reciprocal exchange Trident

30th August 2024

Credit rating agency KBRA has assigned a BBB Insurance Financial Strength Rating (IFSR) to Trident Reciprocal Exchange (Trident), with a stable outlook. Trident is a newly established de novo reciprocal exchange focused on writing homeowners’ insurance in Florida. The rating reflects Trident’s low underwriting leverage and substantial surplus relative to expected premiums ... 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