Tampa-based Allied Trust has agreed to a transaction in which Porch Insurance Reciprocal Exchange would acquire its insurance carrier and Porch Group would acquire its managing general agency and captive reinsurance businesses. Porch’s October 13 SEC filing puts total consideration at $200 million, subject to adjustments and closing conditions.
The transaction is expected to close in the first quarter of 2027. The filing says closing will not occur before January 1 and requires approval from the Texas Department of Insurance. An agreement has been signed; the documents do not establish that ownership has already changed.
The carrier’s portion is $105 million: $55 million payable at closing and $50 million in deferred payments over the following twelve months. A separate $95 million is payable for the agency and captive reinsurer. The filing describes possible share-based consideration and adjustments, so the headline value should not be read as an unconditional cash payment on one date.
Allied Trust’s October 14 company announcement identifies co-founder Brian Keefer as its president and top executive and describes an opportunity to combine its insurance experience with Porch’s homeowner-related data and resources. Those expected advantages are management’s assessment of the proposed combination.
The Florida connection is the company’s Tampa operation, whose public contact address is on West Cypress Street. The insurance markets listed in the announcement are Louisiana, Texas, South Carolina and North Carolina. Louisiana accounted for almost half of Allied Trust’s 2025 premiums. Neither that list nor the transaction announcement establishes that the carrier currently writes Florida homeowners policies.
That distinction matters when interpreting a local insurance-company story. A business can operate from Florida while serving policyholders elsewhere. The agreement is relevant to the Tampa business community, but the public records reviewed do not support a claim that this deal will immediately expand coverage or lower rates for Florida homeowners.
Porch’s investor announcement describes a planned structure in which the reciprocal owns the insurance carrier and pays claims and operating costs, while Porch receives commissions and service fees. Porch expects approximately $200 million in additional reciprocal written premium and $25 million in adjusted EBITDA excluding the reciprocal during the first full year after closing and planned portfolio optimization.
These are forecasts, not completed results. Porch identifies adjusted EBITDA as a non-GAAP measure and warns that reciprocal written premium is not a substitute for revenue. Its release also lists risks involving approvals, integration, financing, severe weather and the ability to realize expected benefits.
The next material milestones are regulatory decisions and closing, followed by evidence of how the combined operations perform. This report relies on the companies’ announcements and the SEC current report as authoritative records of their agreement. The announcements are not independent confirmation of projected earnings, and TAQ has not established any resulting change to individual policies, claims handling or local employment.
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Feature image: AI-generated illustration; it does not depict an actual Allied Trust office.
