Press Release: Porch : Porch Group Files Reciprocal Exchange Application and Contributes PRCH Shares to HOA to Increase Surplus and Support Future Growth

SEATTLE--(BUSINESS WIRE)--Porch Group, Inc. ("Porch" or "the Company") (NASDAQ: PRCH), a homeowners insurance and vertical software platform, today announced it has filed a new and updated application to form and license a Texas reciprocal insurance exchange ("Reciprocal") with the Texas Department of Insurance ("TDI"). If approved and fully implemented as proposed, Homeowners of America Insurance Company ("HOA"), Porch's homeowners insurance carrier, would be sold to the Reciprocal at inceptio