HGTY
Hagerty, Inc.12.91
-0.06-0.46%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
4.43BP/E (TTM)
43.03Basic EPS (TTM)
0.30Dividend Yield
0%Recent Filings
10-K
FY2025 results
Hagerty drove FY2025 insurance written premium up 14.3% y/y to power 14.9% commission growth and 13.0% earned premium gains, while Hagerty Re's loss ratio improved to 39.3% from 46.4% on lower catastrophe hits and $20.5M favorable prior-year development. Marketplace revenue doubled to $120M on record private sales and Broad Arrow's European auction debut, yet posted a narrower $11M loss. Q4 accelerated with new European auctions at Zoute and Zürich plus Concours at Wynn. Cash flow swelled to $219M; $375M JPM revolver available. No 2026 guidance disclosed. Investment portfolio volatility could crimp returns.
8-K
Hagerty smashes 2025 records
Hagerty crushed 2025 with revenue up 17% to $1,456M, written premium +14% to $1,194M, and net income soaring 91% to $149M on a stellar 86.6% combined ratio. Marketplace revenue exploded 119% via European auctions. Flywheel spins faster. 2026 guides 15-16% premium growth yet net loss from $190M Markel fronting transition costs.
8-K
Hagerty closes Markel fronting deal
Hagerty consummated its fronting arrangement with Markel on December 31, 2025, amending the Master Relationship Agreement through 2028—retaining Essentia purchase option exercisable 2026-2028—while removing exclusivity covenants. New General Agency and Quota Share Agreements, effective January 1, 2026, grant Hagerty full authority to produce, bind, service, and manage Essentia policies 100% reinsured by Hagerty Re. Deal enhances Hagerty's control over classic car insurance operations.
10-Q
Q3 FY2025 results
Hagerty drove Q3 revenue to $380M, up 17.5% y/y, with commission and fees climbing 18.0% y/y to $137M on 16.1% written premium growth and 47.9% more new policies, while earned premium net rose 12.9% y/y to $187M. Operating income tripled to $34M as losses fell 20.9% y/y to $79M, dodging last year's Hurricane Helene hit. Cash swelled to $160M, restricted cash $172M; total debt $178M includes $77M JPM revolver (Mar 2030) and $75M BAC facility (Dec 2026), both covenant-compliant. Diluted EPS dropped to $0.11 from $0.03 due to anti-dilution from 347K weighted shares. Marketplace surged 58.5% y/y. Catastrophe claims remain a cyclical watch.
8-K
Q3 revenue up 18%, profits soar
Hagerty crushed Q3 with revenue up 18% to $380M and net income surging 143% to $46.2M, driven by 16% written premium growth to $334M and marketplace revenue exploding 58% to $34.2M. Loss ratio improved to 42.0% versus 60.0% last year. Profits soared. Raised 2025 outlook to 14-15% revenue growth, 58-65% net income growth amid State Farm rollout and Liberty Mutual partnership.
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