Welcome to our dedicated page for HAGERTY news (Ticker: HGTY), a resource for investors and traders seeking the latest updates and insights on HAGERTY stock.
Hagerty, Inc. (NYSE: HGTY) generates a steady stream of news as a specialty vehicle insurance provider and automotive enthusiast brand. Its announcements span financial performance, strategic partnerships, marketplace developments and collector car auction results, reflecting the company’s role in both the insurance and enthusiast car ecosystems.
On the financial side, Hagerty regularly issues quarterly results and outlook updates, reporting metrics such as total revenue, written premium, earned premium, membership and marketplace revenue, operating income, net income and Adjusted EBITDA. These releases often discuss factors influencing performance, including catastrophe losses, technology investments and growth in insurance, membership and marketplace businesses.
Hagerty’s news also highlights strategic partnerships and corporate agreements. Examples include a partnership with Liberty Mutual Insurance to offer enhanced collectible car coverage to Liberty Mutual and Safeco customers, and a fronting arrangement with Markel Group Inc. and Essentia Insurance Company that expands Hagerty’s underwriting and claims authority and shifts 100% of specified policy risk to Hagerty Reinsurance Limited under a new quota share agreement.
Through its Broad Arrow subsidiary, Hagerty issues detailed reports on collector car auctions, private sales and financing activity. News items describe auction calendars, debut events in new regions, top sale results, sell-through rates and notable consignments ranging from historic racing cars to modern supercars. Broad Arrow announcements also cover multi-year event partnerships and new auction formats, such as the Global Icons online series and collaborations with major concours and automotive festivals.
Investors and enthusiasts visiting this news page can review Hagerty’s latest press releases, auction recaps, partnership announcements and financial disclosures in one place, making it easier to follow developments across its insurance, membership and marketplace activities over time.
Hagerty, a leader in automotive lifestyle and specialty insurance, announced its Allstar Advantage Agencies for 2023, recognizing top-performing agencies. CEO McKeel Hagerty praised their commitment to customer service and preserving car culture. The selected agencies include John Alsop Insurance Agency, Jakubek, Inc., and others. Allstar agencies benefit from co-op marketing funds, dedicated support, and features on Hagerty's platforms. Hagerty aims to secure the future of car culture while expanding its global business. For more details, visit Hagerty's website or social media channels.
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Hagerty, Inc. (NYSE: HGTY), an automotive lifestyle brand, will report its fourth quarter 2022 financial results on March 14, 2023, before the market opens. A conference call to discuss these results is scheduled for 10:00 AM Eastern Time on the same day. Interested parties can join the call via dial-in at (877) 423-9813 for U.S. callers or (201) 689-8573 for international participants, with a reminder to call in 10 minutes early. A live webcast will be available on Hagerty's investor relations website, and a replay will be accessible following the call.
Hagerty (NYSE: HGTY) has launched ECO, a voluntary Enthusiast Carbon Offset program aimed at enabling automobile enthusiasts to reduce their carbon footprint easily. This initiative is part of Hagerty's new Impact strategy, designed to promote environmental awareness among collectors. Participants can calculate their vehicle's CO2 emissions and offset them through tree planting projects in the U.S., Canada, and the U.K., managed by Chrome Carbon. The program is accessible to all collectible vehicle owners, regardless of insurance purchases from Hagerty.
Hagerty (NYSE: HGTY) has released its 2023 U.S. Bull Market list, highlighting vehicles with the best potential to increase in value next year. Using data from millions of vehicles, auctions, and historical trends, the list includes a diverse range of cars and motorcycles. Notable vehicles include the 1992–2006 AM General Hummer H1, 2008–2015 Audi R8, and 2001–2004 Chevrolet Corvette Z06. Despite economic uncertainties, Hagerty's analysis suggests these vehicles are well-positioned for appreciation, driven by increasing demand from younger enthusiasts.
Hagerty, an automotive lifestyle brand and insurance provider, launched the Garage + Social Van Nuys in Southern California, partnering with car enthusiasts Patrick Long and Rod Emory. This facility will serve as a premium clubhouse and storage for car collectors, featuring climate-controlled storage, a café, and events focused on car culture. The site spans 2.5 acres with over 30,000 square feet dedicated to car storage. The clubhouse is set to open in March 2023 and adds to Hagerty’s expansion, which includes facilities in nine cities across North America.
Hagerty has announced NASCAR Hall of Famer Jeff Gordon as the honoree for The Amelia, taking place from March 2-5, 2023. The event includes seminars featuring Gordon and his former crew chief Ray Evernham, alongside a concours showcasing vehicles from Gordon's career. Broad Arrow Auctions will serve as the official auction house for the inaugural Amelia auction on March 4, featuring a range of collector cars. The Amelia, now in its 28th year, aims to celebrate car culture while supporting charitable causes, having donated over $4 million to date.
In Q3 2022, Hagerty reported a 29% increase in total revenue to $216.8 million year-over-year, supported by a 16% rise in written premium. Year-to-date, total revenue climbed 27% to $590.6 million. The company’s net income reached $24.3 million, a significant turnaround from a prior loss. Hagerty continues to grow its member base, now at 2.6 million, with strategic investments in digital platforms and partnerships set to boost future growth. Despite challenges from Hurricane Ian, the firm maintains a positive outlook, projecting continued revenue momentum.
Hagerty, Inc. (NYSE: HGTY) has launched its online auction platform, Hagerty Marketplace, aimed at enhancing the buying and selling experience for car enthusiasts. This initiative supports Hagerty's growth strategy and complements existing services like Hagerty Valuation Tools and DriveShare. The platform ensures secure transactions through identity verification and member support throughout the auction process. In the past year, Hagerty facilitated over 300,000 collectible car transactions valued at nearly $12 billion, signaling strong demand in the collector car market.
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