News January 15, 2021
Willkie represented HOA in the transaction.
Porch Group, Inc. (Porch) and Homeowners of America (HOA) have executed a definitive merger agreement for Porch to acquire HOA and all related subsidiaries.
HOA is a Managing General Agent (MGA) and insurance carrier hybrid with high margins and a capital efficient reinsurance strategy which limits retained risk. HOA operates in six states, including Texas, Arizona, North Carolina, South Carolina, Virginia, and Georgia. The company was founded in 2006 in Texas, a $10 billion homeowners insurance market, and was the 12th largest home insurer in Texas in 2019. HOA is licensed to operate in 31 states, positioning it for nationwide expansion as part of Porch.
Porch Group is a leading vertical software company serving the home services industry.
The Willkie team was led by partners John Schwolsky and Sean Ewen, with partners Daniel Alvarez, Allison Tam, Eugene Chang, Michael Katz, and Christopher Peters assisting.