Porch Group gets $25M with strategic agreement with Aon

Porch Group “announced it signed a strategic business collaboration agreement with Aon Corp. and Aon Re, Inc. to provide a variety of services to Porch Group companies, resulting in payments to Porch of approximately $25 million upfront and an expected approximately $5 million over the following four years. Aon Re, Inc. is a leading reinsurance broker and provides a wide variety of services for insurance and non-insurance companies. Reinsurance brokers are specialists who arrange reinsurance coverage for insurance companies. Porch was seeking a strong partner who could both deliver strong outcomes with reinsurance placements and importantly, provide other services across Porch Group such as data modeling and more. Aon and Porch Group will work together to place 2024 reinsurance coverage at the upcoming renewal on April 1, 2024.”