Porch Group said its reciprocal insurance entity sold about 2.1 million shares of Porch common stock back to the company for $15 million in cash, a deal that reduces the Reciprocal’s stock holdings and boosts its regulatory capital.
The transaction values the shares at $7.17 each, the Nasdaq closing price on March 31, 2026, and leaves the Reciprocal with about 16.2 million Porch shares after the sale.
At the end of the first quarter of 2026, the Reciprocal’s statutory surplus was about $165 million, a level Porch said supports more than $800 million in reciprocal written premiums. The company also said surplus growth since the end of the first quarter has continued to run ahead of expectations.
The share sale follows Porch’s March 2026 repurchase activity, when the company used its board-authorized buyback program to retire 0.3 million shares for $2.5 million, the maximum allowed under the indenture for its 2028 convertible notes. Porch said the new transaction is separate from that open-market repurchase program.
The purchase was completed after regulatory approvals from the Texas Department of Insurance and the Cayman Islands Monetary Authority. Today the company's shares have moved 3.83% to a price of $9.77. If you want to know more, read the company's complete 8-K report here.
