---
schema_version: "secwatch.filing_event.v1"
accession: "0001840776-25-000209"
form_type: "8-K"
ticker: "HGTY"
cik: "0001840776"
company_name: "Hagerty, Inc."
filed_at: "2025-07-24T23:59:59+00:00"
generated_at: "2026-05-18T02:33:37.323545+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Hagerty announces non-binding LOI with Markel; will assume 100% of premium, pay 2% fronting fee from 2026

## Summary
- Effective Jan 1, 2026, Hagerty Re will control 100% of premium and assume 100% of underwriting risk, paying Markel a 2% fronting fee.
- New arrangement expands Hagerty's underwriting and claims authorities to maximum permitted by law.
- Accounting impact: commission revenue from MGA to Markel eliminated; certain policy acquisition costs capitalized from Q1 2026.
- Arrangement is non-binding, subject to definitive documentation and regulatory approvals; no assurance of completion.
- CEO McKeel Hagerty: arrangement positions for better profitability and operational control with no disruption to policyholders.

## SEC filing metadata
- accession: 0001840776-25-000209
- form_type: 8-K
- ticker: HGTY
- cik: 0001840776
- company_name: Hagerty, Inc.
- filed_at: 2025-07-24T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1840776/000184077625000209/0001840776-25-000209-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1840776/000184077625000209/hgty-20250724.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001840776-25-000209
- JSON: https://secwatch.observer/filing/0001840776-25-000209.json
- Plain text: https://secwatch.observer/filing/0001840776-25-000209.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.