ALLIED TRUST acquired by PORCH GROUP

Porch Group entered into a definitive agreement to acquire Allied Trust's insurance carrier and managing general agency in a transaction announced on 13 October 2026. The acquisition would expand Porch Group's insurance operations by adding an established underwriting platform and an agency business operating in Louisiana, Texas, South Carolina and North Carolina. Louisiana accounted for almost half of Allied Trust's 2025 premiums and would represent a new market for Porch Group's reciprocal insurance exchange. The acquired business was expected to contribute approximately $200m in reciprocal written premiums and approximately $25m in adjusted EBITDA excluding reciprocal business during the first full year after closing, following planned portfolio optimization. Porch Group also expects to benefit from Allied Trust's more than a decade of claims data, which could be combined with its proprietary property data to improve pricing, underwriting and risk selection. The agreement covers the insurance carrier and managing general agency rather than the wider Allied Trust organization. Completion remains subject to the conditions set out in the agreement.