secwatch.observer — SEC 8-K summary
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Issuer:     Hagerty, Inc. (HGTY)
CIK:        0001840776
Form:       8-K
Filed at:   2024-03-12T23:59:59+00:00
Accession:  0001840776-24-000019
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hagerty FY2023 revenue $1.0B (+27%), net income $28.2M; guides 15-17% revenue growth in 2024
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- FY2023 total revenue $1.0B (+27% YoY); Q4 revenue $245M (+24%).
- FY2023 net income $28.2M (vs $2.4M in 2022); Adjusted EBITDA $88.2M (vs -$1.9M).
- Written premiums $907.2M (+17%); Policies retention 88.7% vs 88.0%; loss ratio improved to 41.5%.
- 2024 Outlook: total revenue growth 15-17%, net income growth 116-148%, Adj EBITDA growth 41-53%.
- AM Best assigned A- (Excellent) rating to Hagerty Re; HDC paid members +8% to ~815k.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840776/000184077624000019/0001840776-24-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840776/000184077624000019/hgty-20240312.htm
  HTML page:      https://secwatch.observer/filing/0001840776-24-000019

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