---
schema_version: "secwatch.filing_event.v1"
accession: "0001784535-24-000130"
form_type: "8-K"
ticker: "PRCH"
cik: "0001784535"
company_name: "Porch Group, Inc."
filed_at: "2024-10-28T23:59:59+00:00"
generated_at: "2026-05-30T09:46:52.432848+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Texas DOI approves Porch reciprocal exchange; key step to reduce direct insurance risk, improve profitability

## Summary
- TDI approved Porch Insurance Reciprocal Exchange; Porch to contribute $10M cash for surplus note to capitalize the Reciprocal.
- Porch will sell HOAIC to Reciprocal around Jan 1, 2025; receives surplus note equal to HOAIC surplus less existing $49M note.
- As operator, Porch (via PRMS) will earn commissions and fees at ~20% take rate of Reciprocal's gross written premium.
- PIRE will manage to appropriate risk based capital; no impact on 2024 financials expected.
- Further details at Q3 2024 earnings on Nov 7 and investor day in early Dec 2024.

## SEC filing metadata
- accession: 0001784535-24-000130
- form_type: 8-K
- ticker: PRCH
- cik: 0001784535
- company_name: Porch Group, Inc.
- filed_at: 2024-10-28T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1784535/000178453524000130/0001784535-24-000130-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1784535/000178453524000130/prch-20241025.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001784535-24-000130
- JSON: https://secwatch.observer/filing/0001784535-24-000130.json
- Plain text: https://secwatch.observer/filing/0001784535-24-000130.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.