{"schema_version":"secwatch.filing_event.v1","accession":"0001784535-25-000003","form_type":"8-K","ticker":"PRCH","cik":"0001784535","company_name":"Porch Group, Inc.","filed_at":"2025-01-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:04.843671+00:00","generated_at":"2026-05-28T08:50:56.076669+00:00","sec_items":["1.01","2.01","7.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Porch Group completes formation of reciprocal exchange, sells HOAIC for ~$105M surplus value","bullets":["Porch Insurance Reciprocal Exchange formed; HOAIC sold to it for HOAIC's estimated $105M surplus less $58M surplus note.","Porch receives total surplus notes of ~$106M; new note $105M at SOFR+9.75%, 10-year term.","Porch will manage reciprocal via AIF agreement, earning ~20% blended take rate on gross written premium.","Transaction shifts insurance liabilities to reciprocal; Porch expects more predictable, higher-margin results."],"urls":{"canonical":"https://secwatch.observer/filing/0001784535-25-000003","json":"https://secwatch.observer/filing/0001784535-25-000003.json","markdown":"https://secwatch.observer/filing/0001784535-25-000003.md","text":"https://secwatch.observer/filing/0001784535-25-000003.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1784535/000178453525000003/0001784535-25-000003-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1784535/000178453525000003/prch-20250101.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-28T08:50:56.076669+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}