Allied Trust Announces Agreement to be Acquired by Porch Group

(TAMPA, Fla.) – October 14, 2026 – Allied Trust announced today that it has entered into a definitive agreement with Porch Insurance Reciprocal Exchange (the “Reciprocal”) and Porch Group, pursuant to which they will acquire Allied Trust’s insurance carrier and managing general agency, respectively.

“Porch brings complementary resources and proprietary homeowner value-chain data that, combined with Allied Trust’s established insurance expertise, operating history, and disciplined approach, create an exciting opportunity to build on our success. By bringing together complementary strengths while maintaining our distinct market identity and focus, we believe we can enhance our capabilities and position the business for its next phase of growth. We look forward to what this combination can make possible, subject to closing and the necessary regulatory approvals,” said Brian Keefer, the co-founder of Allied Trust Insurance, established in 2015, who serves as its President and top executive.

Allied Trust operates in Louisiana, Texas, South Carolina, and North Carolina. Louisiana represented almost half of Allied Trust’s 2025 premiums.

“Over nearly 12 years, we’ve built Allied Trust on a clear set of principles: putting policyholders and agents first through exceptional customer service and claims handling, maintaining disciplined underwriting, and pursuing sustainable, organic growth. That approach has produced strong results for our investors while creating a culture in which our people can grow, contribute, and thrive. We’re immensely proud of what this team has accomplished,” said Keefer.

Transaction Details

Under the terms of the agreements, the Reciprocal will acquire Allied Trust’s insurance carrier for an initial base price of $55 million in cash, subject to adjustments for the carrier’s statutory surplus and indebtedness at closing, plus $50 million of deferred consideration payable over the 12 months following closing, which the Reciprocal may elect to pay in cash or in PRCH shares it holds. Separately, Porch Group will acquire Allied Trust’s managing general agency and captive reinsurance entities for an aggregate base purchase price of $95 million, consisting of $75 million in cash and an expected $20 million in PRCH shares.

The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in the first quarter of 2027.

Porch Group’s announcement of the transaction is available at ir.porchgroup.com.

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CONTACT: John Deveney

DEVENEY

(504) 717-6965

jdeveney@deveney.com

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