Hagerty(NYSE) HGTY

Hagerty, Inc. helps people protect and enjoy their classic cars. It provides specialized insurance and expert advice for unique vehicles. The company also lets collectors buy and sell cars through auctions.

What's in the Garage?

• Insurance Products: Specialty policies for collector cars, motorcycles, and boats; includes underwriting and reinsurance services.
• Hagerty Drivers Club: Subscription service offering roadside assistance, vehicle valuation tools, and an enthusiast magazine.
• Marketplace Services: Vehicle sales through live and digital auctions, brokered private sales, and vehicle financing.
• Media and Events: Content distribution through digital platforms and organization of large automotive gatherings.
• Storage Solutions: Secure vehicle facilities and clubhouse access provided through the Garage + Social brand.

Shifting Into High Gear

• Markel Fronting Arrangement: Established a new structure on Jan. 1, 2026, and assumed 100% of insurance risk.
• Bennetts Acquisition: Signed a definitive agreement on June 30, 2026, to buy a motorcycle insurance broker.
• Segment Expansion: Reorganized reporting into Insurance and Marketplace segments during the fourth quarter of 2025.
• European Growth: Increased international presence through Broad Arrow Auctions during the 2026 fiscal year.

More Than Just Insurance

Hagerty operates an integrated ecosystem that combines specialty insurance with a marketplace and social club for automotive enthusiasts. This model allows the company to handle everything from vehicle valuation and financing to insurance and secure storage.

Checking the Dashboard

• Total revenue was $354.8 million in the second quarter of 2026, down 6.5% year over year.
• Net income reached $8.0 million for the three months ended June 30, 2026, down 83.0% year over year.
• Adjusted EBITDA was $74.5 million in the second quarter of 2026, up 2.6% year over year.
• Policies in force reached 1,855,649 as of June 30, 2026, up 19.0% from the previous year.
• Net cash provided by operating activities was $186.2 million for the six-month period ended June 30, 2026.

Bottom Line

Hagerty has shifted from a traditional insurance agency into a comprehensive platform for car enthusiasts. Its move toward assuming full insurance risk and expanding its marketplace activities supports its long-term growth in the collector vehicle economy.