> ## Content Index > Fetch the complete content index at: https://www.bullished.co/llms.txt > Use this file to discover other available public pages before exploring further. # Porch Group Agrees To Buy Allied Trust For $200 Million, Gaining A Louisiana Foothold - URL: https://www.bullished.co/porch-group-agrees-to-buy-allied-trust-for-200-million-gaining-a-louisiana-foothold-0349fc88/ - Published: 2026-10-13T21:22:00.000Z - Updated: 2026-10-28T21:56:39.000Z - Description: The $200.0 million deal, subject to adjustment, needs Texas insurance regulator approval and cannot close before January 1, 2027. - Author: Matteo Parrino - Tags: Deals, PRCH, Industry: Financials [Porch Group](https://www.bullished.co/tag/prch/) and the insurance reciprocal it manages agreed to buy Allied Trust's carrier, agency and captive reinsurer for [$200.0 million in total](https://www.sec.gov/Archives/edgar/data/0001784535/000178453526000054/prch-20261013.htm?ref=bullished.co), subject to adjustment, according to an [8-K](https://www.bullished.co/learn/8-k-items-explained/) filed Tuesday. Louisiana made up almost half of Allied Trust's 2025 premiums and would be a new state for the Reciprocal. ## What the 8-K says The Reciprocal, Porch Insurance Reciprocal Exchange, will pay $105.0 million for Allied Trust Insurance Company: $55.0 million at closing and $50.0 million in twelve roughly equal monthly installments afterward. Porch, through its subsidiary Homeowners of America Holding Corporation, will pay $95.0 million at closing for the managing general agent and the captive reinsurer. The $55.0 million carrier payment moves with the carrier's adjusted statutory surplus at closing, measured against a benchmark of about $60.2 million. It rises dollar-for-dollar above the benchmark and falls by 1.66 times any shortfall. Porch may pay up to $20.0 million of the closing price in newly issued shares, with the rest in cash. The Reciprocal may pay up to $50.0 million of the deferred installments in Porch shares it already holds. The share count depends on the Nasdaq closing price before each payment, so it is not yet determinable. ## What it changes In its [press release](https://www.sec.gov/Archives/edgar/data/0001784535/000178453526000054/prch-20261013xexx991.htm?ref=bullished.co), Porch said the deal should add about $200 million of Reciprocal Written Premium and about $25 million of adjusted EBITDA excluding the Reciprocal in the first full year after closing. Those figures reflect planned portfolio optimization. Porch said the acquisition multiple on the agency and captive purchase is less than four times, based on that expected EBITDA contribution. The company did not give that multiple for the carrier purchase. Porch also expects to file for an at-the-market stock offering program. It would let the Reciprocal or Porch sell shares over time, and the Reciprocal could use it to sell part of its Porch holdings to add capital to statutory surplus. CEO Matt Ehrlichman said that, assuming a January 1, 2027 close, the deal positions Porch for 2027 results of more than $900 million of Reciprocal Written Premium and more than $180 million of adjusted EBITDA excluding the Reciprocal. Porch calls these internal estimates and targets, not pro forma financials. Shares closed at $17.22 on Tuesday and were at $17.39 in Tuesday after-hours trading. ## What to watch Closing requires approval from the Texas Department of Insurance and cannot occur before January 1, 2027\. Porch expects it in the first quarter of 2027\. Either side can terminate if the deal has not closed by April 1, 2027, a date that may be extended. Porch expects to give formal 2027 guidance in the first quarter of 2027, after approval and closing. Allied Trust operates in Louisiana, Texas, South Carolina and North Carolina, and the Texas regulator's approval is the gate for the whole deal. Learn - [Item 1.01: entry into a material agreement →](https://www.bullished.co/learn/8-k-items-explained/#item-101-entry-into-a-material-agreement) From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples ### Sources - [8-K Filing — Porch Group, Inc. (PRCH)](https://www.sec.gov/Archives/edgar/data/0001784535/000178453526000054/prch-20261013.htm?ref=bullished.co) — SEC EDGAR - [Exhibit prch-20261013xexx991.htm — Porch Group, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001784535/000178453526000054/prch-20261013xexx991.htm?ref=bullished.co) — SEC EDGAR ### More on Porch Group - [Porch Group May Pay Up To $50 Million Of Allied Trust Price In Shares Its Exchange Holds](https://www.bullished.co/porch-group-may-pay-up-to-50-million-of-allied-trust-price-in-shares-its-exchange-holds-c83e820a/) - [Porch Lifts 2026 Profit Outlook To $135 Million-$140 Million As Insurance Services Revenue Climbs 39%](https://www.bullished.co/porch-lifts-2026-profit-outlook-to-135-million-140-million-as-insurance-services-revenue-c917cfb1/) [All Porch Group (PRCH) coverage →](https://www.bullished.co/tag/prch/)