Fallout from the bankruptcy of reinsurer Vesttoo Ltd. in the wake of fraud allegations are rippling through the insurance industry, with Porch Group announcing Tuesday that its insurance subsidiary, Homeowners of America Insurance Company, has been placed under temporary supervision by Texas regulators.
Tag: Porch Group
Porch Completes $100M Homeowners of America Acquisition
Porch Group, Inc., a leading vertical software company reinventing the home services industry, successfully completed its previously announced acquisition of Homeowners of America (HOA), making Porch one of the largest Insurance Technology (InsurTech) companies. HOA is a Managing General Agent and insurance carrier hybrid with high margins and a capital efficient reinsurance strategy which limits… Continue reading Porch Completes $100M Homeowners of America Acquisition