secwatch.observer — SEC 8-K summary
======================================

Issuer:     Hagerty, Inc. (HGTY)
CIK:        0001840776
Form:       8-K
Filed at:   2024-02-13T23:59:59+00:00
Accession:  0001840776-24-000007
Event type: m_and_a
Sentiment:  positive
Materiality: 0.65
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hagerty to acquire Consolidated National Insurance Company for ~$18.4M
----------------------------------------------------------------------

- Hagerty subsidiary to buy all CNIC stock from Everspan for ~$18.4M, subject to adjustment.
- CNIC will serve as Hagerty's direct underwriting carrier to retain underwriting profits.
- Purchase price includes ~$10M for state licenses and ~$8M for capital and surplus.
- Closing expected in Q2 2024, subject to Colorado Division of Insurance approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840776/000184077624000007/0001840776-24-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840776/000184077624000007/hgty-20240112.htm
  HTML page:      https://secwatch.observer/filing/0001840776-24-000007

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer