Porch Group to acquire CSE Insurance from Covea for $49m.

Porch Group, a vertical software and InsurTech company, agreed to acquire CSE Insurance, a California-based personal lines insurer focused on property and auto, from Covea, a French mutual insurance company, for $49m. "CSE has made significant progress over the last two years to become a strong business led by a proven team with specialized insurance expertise in California. This acquisition not only accelerates the pace of geographic expansion of our managing general agent and carrier but also provides new insurance products such as auto and umbrella, which enables us to provide affordable bundled insurance solutions for consumers. We are excited about how Porch’s unique capabilities can continue to drive growth in our InsurTech business," Matt Ehrlichman, Porch Chairman and CEO.