Highest-materiality recent filing
Hagerty Q2: Written Premium +19%, Adj EBITDA +32%, raises FY outlook
Q2 Written Premium $425M (+19% YoY); H1 record 279k new members, policies in force 1.9M (+19%).
Hagerty Q1 net loss $13M on $89M transitional costs; written premium up 18%, EBITDA up 77%
Written premium rose 18% YoY to $289M; earned premium +42% to $240M on transition to 100% quota share.
Hagerty FY2025 revenue up 17% to $1.46B, net income +91%, guides 15-16% WP growth in 2026
Full year 2025 total revenue $1,456M (+17% YoY); written premium $1,194M (+14%); net income $149M (+91%).
Hagerty Q3 revenue up 18% to $380M, net income up 143%, raises FY2025 outlook
Q3 total revenue $380.0M (+18% YoY); net income $46.2M (+143%); adjusted EBITDA $49.7M (+106%).
Hagerty secondary offering of 9.7M shares at $9.34 priced; company gets no proceeds
Selling stockholders HHC and Aldel offer 9.7M shares of Class A common stock at $9.34/share.
Hagerty Q2 revenue $368.7M (+18% YoY), net income $47.2M; raises FY 2025 outlook
Q2 total revenue $368.7M (+18% YoY); net income $47.2M (+11% YoY); Adjusted EBITDA $63.7M (+20% YoY).
Effective Jan 1, 2026, Hagerty Re will control 100% of premium and assume 100% of underwriting risk, paying Markel a 2% fronting fee.
Hagerty Q1 revenue up 18% to $319.6M; net income up 233%; reaffirms 2025 outlook
Total revenue $319.6M (+18% YoY); net income $27.3M (+233%); adjusted EBITDA $39.6M (+45%).
Hagerty FY2024 revenue +20% to $1.2B; net income +178%; 2025 outlook for 12-13% revenue growth
FY2024 total revenue $1.200B (+20% YoY); net income $78.3M (+178%); adjusted EBITDA $124.5M (+41%).
Hagerty Q3 revenue up 17% to $323.4M; hurricane losses hit bottom line; FY outlook trimmed
Total revenue $323.4M (+17% YoY); written premium $287.6M (+13% YoY).
Hagerty Q2 revenue up 20% to $313M; raises full-year guidance
Total Revenue $313.2M (+20% YoY); Written Premium $321.2M (+16%).
87.3% of public warrants (5.0M), 98.4% private placement, 97.6% PIPE warrants tendered for 0.2 shares each.
Hagerty appoints Jeff Briglia as President of Insurance; adds $75M credit capacity
Jeff Briglia named President of Insurance effective July 1, 2024; reports to CEO McKeel Hagerty.
Hagerty Q1 revenue +24% to $271.7M; swings to net income of $8.2M; reaffirms FY24 outlook
Q1 total revenue $271.7M (+24% YoY); written premium $218.3M (+19%); insured vehicles 2.4M (+6%).
Hagerty FY2023 revenue $1.0B (+27%), net income $28.2M; guides 15-17% revenue growth in 2024
FY2023 total revenue $1.0B (+27% YoY); Q4 revenue $245M (+24%).
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.
Tenth Amendment adds baskets for investments, debt, and liens subject to pro forma leverage ≤ 3.25x.
Hagerty Q3 revenue up 27% to $275.6M, turns to positive Adj. EBITDA, raises FY outlook
Total revenue $275.6M (+27% YoY); written premium $255.6M (+15%); earned premium $139.8M (+30%).
Q2 revenue $261.2M (+27% YoY); adjusted EBITDA $34.4M vs $16.1M; net income $15.5M vs -$5.5M loss.
Hagerty names Diana Chafey as Chief Legal Officer; General Counsel Matthews transitions to advisor
Barbara Matthews to step down as General Counsel; will serve as Senior Legal Advisor through Jan 1, 2024.
Closed $80M Series A Convertible Preferred Stock at $9.43/share (8.48M shares) to accredited investors State Farm, Markel Group, and Hagerty family trusts.
Hagerty Q1 revenue up 30% to $218.4M; raises FY2023 Adj. EBITDA guidance to $55-75M
Total revenue $218.4M (+30% YoY); written premium $182.9M (+18% YoY).
Hagerty cuts 4% workforce (83 employees); expects $20-25M annual savings; revises 2023 outlook
Workforce reduction of ~4% (83 employees); expects ~$5M restructuring charge in Q1 2023.
Hagerty reports FY2022 revenue $787.6M (+27%); guides to $40-60M Adj. EBITDA for 2023
Q4 total revenue $197.0M (+28% YoY); full year revenue $787.6M (+27%); written premium +15% to $776.7M.
Hagerty cuts 6% of workforce (103 employees); expects ~$11M Q4 charge, ~$19M annual savings
Reduction of ~6% (103 employees) as part of expense management to achieve growth and profitability goals.
Hagerty Q3 revenue up 29% to $216.8M, but adjusted EBITDA loss of $10M; cuts FY guidance
Q3 revenue $216.8M (+29% YoY), written premium $222.1M (+16% YoY); net income $24.3M vs $(0.5)M loss.
Fred Turcotte transitions to special projects advisor effective Sept 6, 2022; will remain through 2023 to ensure smooth handoff.
Hagerty closes acquisition of remaining 60.26% of Broad Arrow Group, making it wholly owned
Closed on August 16, 2022; Broad Arrow becomes wholly-owned subsidiary of Hagerty's OpCo.
Hagerty to acquire remaining 60% of Broad Arrow Group for $64.8M in all-stock deal
Hagerty to acquire remaining 60.26% stake in Broad Arrow Group for ~$64.8 million in all-stock transaction expected to close by Aug 16, 2022.
Hagerty Q2 revenue $206M (+23%), net loss $5.5M; cuts FY22 Adj. EBITDA guidance to $15-20M
Total revenue $206.0M (+23% YoY); written premium $237.7M (+14% YoY).
Markel has designated Michael R. Heaton, who currently serves as Markel's Executive Vice President & Chief Operating Officer, to serve as its designee on the Board.
On April 16, 2025, F. Michael Crowley, a member of the Board of Directors (the "Board") of Hagerty, Inc. (the "Company"), informed the Company that he does not intend to stand for re-election at the Company's 2025 annual meeting of stockholders (the "Annual Meeting").
On July 9, 2024, Board of Directors (the "Board") of Hagerty, Inc. ("Hagerty" or the "Company") elected Anthony J. Kuczinski as a director.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of President of Insurance On May 31, 2024, the Company announced the appointment of Jeff Briglia, age 54, as its President of Insurance, effective July 1, 2024, to lead all aspects of the Company’s insurance operations.
On February 26, 2024, Michael Angelina, a member of the Board of Directors (the "Board") of Hagerty, Inc. (the "Company") notified the Company that he will retire from service on the Board and its Nominating and Governance Committee and Talent, Culture, and Compensation Committee, effective as of April 2, 2024.
The Company has named Diana Chafey as Chief Legal Officer and Corporate Secretary effective August 2, 2023.
On August 2, 2023, Hagerty, Inc. (the 'Company') announced that Barbara Matthews, the Company’s Senior Vice President, General Counsel and Corporate Secretary will transition to an advisory role on or before October 31, 2023.
On March 7, 2023, the Board of Directors of Hagerty, Inc. (the “Company”) appointed Mr. Kevin Delaney, age 50, as the Company's Principal Accounting Officer.
Randall Harbert, who recently retired as State Farm’s Chief Agency, Sales and Marketing Officer and currently serves as senior advisor, has been appointed to assume a seat on the Company’s Board of Directors (the “Board”) from Michael L Tipsord, State Farm’s Chairman, President and CEO.
Randall Harbert, who recently retired as State Farm’s Chief Agency, Sales and Marketing Officer and currently serves as senior advisor, has been appointed to assume a seat on the Company’s Board of Directors (the “Board”) from Michael L Tipsord, State Farm’s Chairman, President and CEO.
Mr. Kelly Smith’s employment with the Company as the Chief Strategy Officer was ended pursuant to the terms of his Employment Agreement, dated March 1, 2021, between Mr. Smith and a subsidiary of the Company (“The Hagerty Group”).
Fred Turcotte, the Company’s Chief Financial Officer (“CFO”) will transition to a special projects advisory role effective September 6, 2022.
Max materiality 0.85 · Median 0.60 · Most common event earnings