Porch Group estimates $18M catastrophic weather loss in Q2 from Texas storms

Porch Group, Inc.

Preliminary estimate of $18 million loss, net of third-party reinsurance, from June wind, thunderstorm and hail events in Texas.
Industry-wide claims from those events estimated at $5.0 billion (source: PCS catastrophe bulletin).
Q2 cat events described as uncommon vs historic trends and not included in full year 2023 guidance.
Company continues to expect launch of Porch Insurance Reciprocal Exchange later in 2023, pending Texas DOI approval.
Q2 2023 full earnings call scheduled for August 8, 2023 after market close.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Porch Group, Inc. reported preliminary financial results for Q2 2023.

Period: Q2 2023
Result: preliminary results

Exact text from the filing

Porch Group announces catastrophic weather events impact for Q2 2023, and will release second quarter 2023 earnings on August 8, 2023

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Porch Group, Inc. filing history →

Source: SEC EDGAR

accession 0001784535-23-000007

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