Otonomo Technologies (NASDAQ:OTMO – Get Rating) and Porch Group (NASDAQ:PRCH – Get Rating) are both small-cap business services companies, but which is the better investment? We will compare the two companies based on the strength of their analyst recommendations, risk, dividends, valuation, earnings, institutional ownership and profitability. Analyst Ratings This is a summary of recent […]
Certara (NASDAQ:CERT – Get Rating) and Porch Group (NASDAQ:PRCH – Get Rating) are both medical companies, but which is the superior business? We will compare the two businesses based on the strength of their risk, valuation, profitability, analyst recommendations, earnings, institutional ownership and dividends. Earnings and Valuation This table compares Certara and Porch Group’s gross […]
Agency Partnership News Wrap-Up: SAN Group, Valley Alliance, Keystone, United Valley insurancejournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancejournal.com Daily Mail and Mail on Sunday newspapers.
Acquisition of Homeowners of America by Porch Group
News provided by
Share this article
(PRNewsfoto/IA Capital Group)
NEW YORK, Jan. 14, 2021 /PRNewswire/ Homeowners of America Holding Corporation (HOA) and Porch Group, Inc. (NASDAQ: PRCH) (Porch) have executed definitive agreements for Porch to acquire HOA and all related subsidiaries. The transaction, which is pending only regulatory approval, is expected to close early in the second quarter of 2021.
Homeowners of America is a Managing General Agent (MGA) and insurance carrier hybrid with high margins and a capital efficient reinsurance strategy which limits retained risk. HOA primarily operates in six states, including Texas, Arizona, North Carolina, South Carolina, Virginia, and Georgia. HOA was founded in 2006 in Texas, a $10 billion homeowners insurance market, and was the 12