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.
Hagerty, an automotive lifestyle brand and specialty insurance provider, began trading on the NYSE under the ticker HGTY on December 3, 2021, after completing its business combination with Aldel Financial. This merger included a fully committed $704 million PIPE led by State Farm and Markel Corporation. CEO McKeel Hagerty emphasized their commitment to preserving car culture and enhancing digital user experience. Hagerty boasts approximately 2 million insured cars globally, a customer retention rate of 90%, and an average loss ratio of 41%, significantly below the industry average.