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. reports developments tied to specialty vehicle insurance, enthusiast services, collector-car auctions, media, events and the Hagerty Drivers Club. Company updates commonly cover written premium, earned premium, policies in force, member growth, claims activity and profitability measures, including the effects of its completed transition to a Markel fronting arrangement.
News also follows Broad Arrow Auctions, driven by Hagerty, including collector-car sales, single-marque auctions, concours partnerships and flagship automotive events. These updates connect Hagerty's insurance business with its broader enthusiast ecosystem across the United States, Canada, the United Kingdom and other collector-car markets.
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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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Hagerty, Inc. (NYSE: HGTY), an automotive lifestyle brand and specialty insurance provider, announced it will report its Q3 2022 financial results on November 10, 2022, before market opening. A conference call to discuss these results will be held at 10:00 am ET, with a live webcast available on Hagerty's investor relations website. The dial-in numbers for the call are (877) 423-9813 (toll-free) and (201) 689-8573 (international). A replay will be accessible for 90 days following the event.