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.
The Amelia, held from March 3-6, 2022, in Florida, drew over 22,000 attendees, showcasing over 450 vehicles and raising more than $200,000 for local charities. Attendees participated in events like Cars & Community and the Concours d'Elegance, where significant awards were given. Hagerty's CEO highlighted positive feedback from participants and plans for future events. Youth engagement was significant, with over 500 kids involved in various activities. The event demonstrated a commitment to sustainability by saving the equivalent of 2,000 plastic bottles.
Hagerty has formed a global gaming partnership with Sony's Gran Turismo 7, available on PS4 and PS5. This collaboration allows players to explore the Hagerty Collection, featuring over 70 iconic vehicles, with Hagerty CEO McKeel Hagerty as an in-game avatar providing insights. Players can acquire cars through game progression, influenced by real-world pricing from the Hagerty Valuation Tool. Additionally, Hagerty Drivers Club members can enjoy exclusive in-game benefits. This initiative marks Hagerty's first significant step into gaming, aimed at engaging car enthusiasts across generations.
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Hagerty, a leading automotive lifestyle brand and specialty insurance provider, will report its fourth quarter and full year 2021 financial results on March 24, 2022. The call starts at 5:00 PM Eastern Time, with dial-in options available for participants. The results will be discussed in a conference call that includes a video and slide presentation available on Hagerty's investor relations website. A replay of the webcast will be accessible for 90 days post-call. Visit www.hagerty.com for more information.
Hagerty has appointed Prakash Ranjan as vice president of marketing technology, tasked with leading the company's digital transformation efforts. Ranjan brings extensive experience, having previously held leadership roles at MGM Resorts International and several Fortune 50 companies. His expertise includes AI, cloud computing, and digital strategy. According to Kelly Smith, Hagerty's chief digital officer, Ranjan's knowledge will be essential in engaging the automotive enthusiast community as the company evolves. Hagerty aims to preserve car culture and enhance its global business.
Hagerty has announced its 2022 Allstar Advantage Agents, recognizing top-performing agents within its automotive insurance platform. CEO McKeel Hagerty praised these agents for their vital role in preserving car culture. This elite group includes 15 agencies, which benefit from co-op marketing funds, dedicated account executives, and enhanced visibility on Hagerty's social media. Hagerty aims to save driving and foster car culture for future generations by offering integrated membership products and specialty insurance.
Hagerty, a prominent automotive enthusiast brand and specialty car insurer, has revealed its Top Gear Agents for 2022, recognizing their exceptional performance. CEO McKeel Hagerty praised these agents for their expertise, which is essential for the company's mission to preserve car culture for future generations. This year's list includes 17 elite agencies, such as Gingerbread Insurance Agency LLC and CoVerica. These agencies will benefit from marketing support and enhanced visibility through Hagerty's platforms.
Hagerty, Inc. (NYSE: HGTY) has signed a licensing agreement to produce the Concours d'Lemons motoring festival, celebrating the quirky side of automotive culture. This event will expand Hagerty's portfolio, which includes prestigious shows like The Amelia Concours d'Elegance. The Concours d'Lemons showcases unconventional vehicles and awards humorous prizes, appealing to automotive enthusiasts. The inaugural event under Hagerty’s management is scheduled for March 5, 2022, at The Amelia, emphasizing community and humor in car culture while supporting local charities.
Hagerty, Inc. (NYSE: HGTY) has unveiled a redesigned Valuation Tools website, enhancing user experience with better navigation and more frequent price updates. The platform now provides current and historical pricing for over 40,000 collectible vehicles. Key changes include a quarterly pricing update and tiered access levels. Additionally, Hagerty predicts $211 million in auction sales for the upcoming Arizona Auction week, a 14% decline from 2020, due to fewer auctions and reduced lots. The company aims to preserve car culture and serve the 69 million U.S. car enthusiasts.
Hagerty has launched its new clubhouse and car storage facility, Hagerty Garage + Social Seattle, on December 20, 2021. Located in Redmond, WA, the facility offers storage for over 160 classic and exotic cars along with unique amenities like driving tours and events to engage the local car enthusiast community. This location marks a significant expansion, following previous openings in Chicago, New York, Toronto, and Delray Beach. The clubhouse is open seven days a week and allows 24/7 access for members.