HGTY News & Events

Hagerty has entered into a definitive agreement to acquire Bennetts, the U.K.'s #2 specialty motorcycle insurance broker, from Lucida Group for GBP34M, or approximately $43M. The transaction is expected to be immediately accretive, and close during the third quarter of 2026, subject to regulatory approval. Founded more than 90 years ago, Bennetts brings 15% UK motorcycle insurance market share and a 65 Net Promoter Score through a member-centric approach similar to Hagerty's model in the enthusiast car space. The acquisition is also expected to triple Hagerty's UK revenue to approximately GBP25M, and to be financially accretive from day one.

Backs FY26 adjusted EBITDA view $236M-$247M. The company said, "We believe 2026 is on track to be another great year of underlying profit growth for Hagerty as our team executes on our long-term plan to deliver compounding premium growth through investing in our long-term competitive advantages with our member-centric approach. As of January 1, 2026, we moved to a 100% quota share arrangement with our long-term partner, Markel, where we retain 100% of the premium and risk from our high-quality, historically low volatility underwriting. We also remain focused on delivering this growth more efficiently through the benefits of scale, continued cost discipline, and investments in our technology platform."

Reports Q1 revenue $311.83M, consensus $283.26M. "First quarter results and the breadth of momentum across our ecosystem give us increasing confidence in our full year outlook that we reaffirmed today. We delivered 18% written premium growth in the first quarter, ahead of our full year outlook, and earned premium growth of 42% with the January 1, 2026 increase in quota share to 100%. 2026 is performing better than expected economically, even if the financial presentation looks different as we transition to the new Markel Fronting Arrangement. The presentation is different but the business is not, as we delivered another quarter of record growth," said McKeel Hagerty, Chief Executive Officer and Chairman of Hagerty.