HGTY

Hagerty, Inc. (HGTY) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company. Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank. The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. For Hagerty, Inc., there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year. The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate: The earnings estimate of $0.01 per share for the current quarter represents a change of -92.3% from the number reported a year ago. Over the last 30 days, two estimates have moved higher for Hagerty while one has gone lower. As a result, the Zacks Consensus Estimate has increased 200%. For the full year, the company is expected to earn $0.01 per share, representing a year-over-year change of -97.3%. There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, three estimates have moved up for Hagerty versus no negative revisions. This has pushed the consensus estimate 106.67% higher. The promising estimate revisions have helped Hagerty earn a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500. While strong estimate revisions for Hagerty have attracted decent investments and pushed the stock 13.4% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Hagerty, Inc. (HGTY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. Hagerty stock has delivered a 41.7% gain over the past three years, yet the latest valuation checks suggest the shares are not obviously cheap at current levels. Over the past three years, Hagerty has returned 41.7%, which keeps recent shareholders comfortably in positive territory and raises the bar for new buyers looking for further upside. Investor expectations are currently anchored by a stronger profit outlook supported by a firm collector car market, while underwriting volatility remains a key risk that can affect how much of that revenue turns into durable earnings. Hagerty screens as expensive on Simply Wall St's broader valuation framework, with 0 of 6 checks pointing to the stock as a clear bargain. The issue now is whether Hagerty's recent share price strength already reflects these improved prospects or if the current valuation still leaves room for an attractive long term return. Hagerty delivered 18.9% returns over the last year. See how this stacks up to the rest of the Insurance industry. P/E suits Hagerty because earnings are now a central focus after the company moved to a clearer profit target. The stock trades on a P/E of about 81.8x, which is much higher than the Insurance industry average of 11.2x and also above the peer group average of 65.4x. That already indicates the market is putting a rich price on each dollar of current earnings. The fair P/E ratio from Simply Wall St's model is 50.4x. This is the multiple you might expect for Hagerty once its growth profile, margins, size and risk are taken into account. Compared with that, the current 81.8x P/E suggests investors are paying a premium over what this framework presents as reasonable. Despite the upgraded 2026 profit outlook that has helped sentiment, the market is still assigning a P/E that sits well above both the industry and this fair value anchor. On this P/E measure, Hagerty stock screens as overvalued and already prices in a lot of good news. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives pick up where Hagerty's valuation puzzle leaves off by spelling out which future paths for growth, margins and earnings would justify a much higher or much lower share price than today, and they sit on the company’s Community page. Each one treats Hagerty's fair value as a specific thesis about the business that you can track over time rather than a single static snapshot. The Hagerty community is split between those who see a stronger insurance franchise taking shape and those who think rising competition will cap what the stock can deliver. Bull case: 15% undervalued Read the full Bull Case to see why Hagerty could be undervalued Bear case: 7% overvalued Read the full Bear Case to see why Hagerty could be overvalued Do you think there's more to the story for Hagerty? Head over to our Community to see what others are saying! Hagerty stock currently screens as overvalued on traditional multiples, with the high P/E suggesting investors already pay a premium for its earnings profile. That does not rule out future upside, but it does mean the market gives Hagerty the benefit of the doubt on execution and profitability. The key question from here is whether the company can deliver on the profit path that would keep this premium multiple intact, or whether a more ordinary earnings trajectory would force the valuation closer to peers. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include HGTY. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Interested in Hagerty, Inc.? Here are five stocks we like better. Strong growth lifted Hagerty’s outlook: Written premium rose 19% in the second quarter and first half, while adjusted EBITDA increased 32% year over year to $75 million in Q2. The company raised 2026 guidance to 16%–17% written-premium growth, $18 million–$30 million in GAAP net income and $270 million–$280 million in adjusted EBITDA. Fronting arrangement affected reported results: Hagerty reassumed 100% of U.S. underwriting risk under its Markel arrangement, increasing its participation in underwriting profits but distorting GAAP revenue presentation. Management expects the accounting effects to largely normalize in 2027. Distribution and marketplace expansion continued: Hagerty surpassed 3 million insured vehicles, advanced State Farm policy conversions and acquired U.K. motorcycle insurer Bennetts for £34 million. Marketplace sales rose 17% to $65 million in the first half, led by a 74% increase in Broad Arrow auction sales. MarketBeat Week in Review – 12/4 - 12/8 Hagerty (NYSE:HGTY) reported second-quarter results marked by continued policy growth, higher written and earned premiums, and increased adjusted EBITDA, prompting the specialty insurer to raise its full-year outlook. Chief Executive Officer and Chairman McKeel Hagerty said the first half of 2026 was the company’s strongest on record based on growth in policies in force, written premium, earned premium and adjusted EBITDA. The company surpassed 3 million insured vehicles during the second quarter and added a record 279,000 new members in the first half, aided by State Farm policy conversions. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling Suddenly markets are betting on Hagerty, AutoZone after UAW Written premium increased 19% in both the second quarter and first six months of 2026, accelerating from 14% growth a year earlier, according to Chief Financial Officer Patrick McClymont. Earned premium rose 42% to $252 million in the second quarter, reflecting policy growth and the company’s increased participation in underwriting economics under its new Markel fronting arrangement. Hagerty reassumed 100% of underwriting risk on its U.S. book beginning Jan. 1 under the Markel Fronting Arrangement. McClymont said the structure provides Hagerty with a 25% step-up in underwriting profits and investment income, but it also changes the presentation of its GAAP revenue and income statement. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High First-half reported GAAP revenue declined 6% to $667 million despite 19% written premium growth, as MGA commission revenue and related ceding commission expense are eliminated in consolidation. Hagerty reported GAAP net income of $8 million in the second quarter, while its first-half GAAP net loss was $5 million. Second-quarter net loss attributable to Class A common shareholders was $2 million, or $0.02 per share on both a GAAP and adjusted basis. The company’s second-quarter results included $64 million in amortization of deferred ceding commissions related to 2025 policies. → No Hangover: Revisiting Microsoft One Week After Earnings McClymont said Hagerty capitalized about $57 million in new acquisition expenses during the first half, with $16 million recognized through the income statement. That created a $41 million cumulative first-half benefit, including $20 million during the second quarter. The company expects that benefit to decline to $15 million in the second half and to be absent in the fourth quarter as policy acquisition expense amortization catches up with costs. Management expects the accounting effects of the fronting transition to be largely resolved in 2027, when revenue and earnings should present a more normalized view of operating performance. Hagerty Re reported a 90% combined ratio during the second quarter, following an 88% combined ratio for the first half. The first-half loss ratio was 41%. Management cited investments in underwriting and in-house claims capabilities as factors supporting member outcomes and lower loss costs. Adjusted EBITDA was $75 million in the second quarter and $160 million in the first half, up 32% year over year. Operating cash flow for the first six months totaled $186 million, nearly double the amount generated in the first half of 2025. As of June, Hagerty had $298 million of unrestricted cash and $216 million of total debt, including $88 million of back leverage associated with Broad Arrow’s portfolio of collector-car loans. Based on first-half performance and momentum entering the second half, the company raised its 2026 guidance. Hagerty now expects: Written premium growth of 16% to 17% for the full year. GAAP net income of $18 million to $30 million. Adjusted EBITDA of $270 million to $280 million. McClymont said stronger-than-expected cost efficiency and better Marketplace profitability were contributing to the increased EBITDA outlook. He also noted that Hagerty’s Marketplace business, which includes auctions and private sales, had performed better than expected and had major sales planned for the second half. Management said growth was broad-based across its distribution channels. The State Farm Classic+ program was active for new Hagerty policies in 37 states as of the end of the second quarter. Conversion of State Farm’s existing 525,000 collector-car policies was underway in 14 states, with Hagerty maintaining its target to complete the transition by 2028. The company said its independent agency channel includes 54,000 agents and remains a significant opportunity. Hagerty is investing in automated vehicle-identification tools, straight-through processing and agent education to identify enthusiast vehicles insured under standard daily-driver policies. Hagerty also cited expanding relationships with carriers including Progressive and Liberty Mutual. McClymont said the Progressive relationship has expanded beyond vehicles built before 1981 to include vehicles that are at least 25 years old, adding 17 years of potential vehicle cohorts on a rolling basis. Enthusiast+, Hagerty’s offering for more modern enthusiast vehicles, was performing in line with revised pricing assumptions in Colorado. The company expanded the program into three additional states in July. McKeel Hagerty said younger collectors were increasingly driving demand, with year-to-date quote volume from Gen X, millennial and Gen Z consumers exceeding 60% of total demand. After the quarter ended, Hagerty acquired Bennetts, the second-largest specialty motorcycle insurer in the United Kingdom, for £34 million. McClymont said the acquisition immediately triples Hagerty’s scale in the U.K. market. Management characterized acquisitions as likely to be modest and infrequent, with capital allocation remaining focused primarily on investments that grow policy count, improve unit economics and deepen the company’s member ecosystem. Hagerty Marketplace generated $65 million in first-half total sales, up 17%. Broad Arrow, the company’s high-end live auction business, recorded a 74% increase in first-half sales and a 91% sell-through rate. Private sales declined from the prior-year period, which had benefited from the sale of a large single-owner collection. McKeel Hagerty said the marketplace operation also serves as a customer-acquisition channel, as vehicles sold through auctions and private transactions may become Hagerty insurance policies. The company said it remains focused on reaching 3 million policies by 2030. Hagerty is a specialized automotive lifestyle and insurance company that caters primarily to collectible car enthusiasts. Its core business centers on offering classic vehicle insurance policies designed to protect antique, vintage and specialty automobiles, motorcycles and boats. These policies typically feature agreed-value coverage, flexible usage options and access to restoration services, aligning with the unique needs of collectors and hobbyists. Beyond insurance, Hagerty operates a comprehensive suite of community and content services under its automotive lifestyle brand. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Hagerty Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Written Premium Growth: 19% in Q2 2026 and the first half of 2026, accelerating from 14% growth in the prior year. Earned Premium: $252 million in Q2 2026, up 42% year-over-year. Adjusted EBITDA: $75 million in Q2 2026; $160 million in the first half of 2026, up 32% year-over-year. GAAP Revenue: $667 million in the first half of 2026, down 6% year-over-year due to the Markel fronting arrangement accounting mechanics. GAAP Net Income (Loss): $8 million net income in Q2 2026; $5 million net loss in the first half of 2026. Marketplace Revenue: $40 million in Q2 2026, up 48% year-over-year. Membership and Other Revenue: $21 million in Q2 2026, reflecting 10% growth in paid memberships. Net Investment Income: $11 million in Q2 2026. Combined Ratio (Hagerty Re): 90% in Q2 2026; 88% in the first half of 2026. Loss Ratio (Hagerty Re): 41% in the first half of 2026. Operating Cash Flow: $186 million in the first six months of 2026, nearly double the prior year period. Cash and Debt: $298 million in unrestricted cash and $216 million in total debt as of June 2026. New Members: Record 279,000 new members added in the first half of 2026. Retention Rate: Industry-leading 88%. Marketplace Sales: Total sales grew 17% to $65 million in the first half of 2026. Broad Arrow Sales: Increased 74% in the first half of 2026 with a 91% sell-through rate. Full-Year 2026 Guidance: Written premium growth of 16% to 17%; GAAP net income of $18 million to $30 million; adjusted EBITDA of $270 million to $280 million. Warning! GuruFocus has detected 5 Warning Sign with HGTY. Is HGTY fairly valued? Test your thesis with our free DCF calculator. Release Date: August 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Hagerty Inc (NYSE:HGTY) delivered record first-half 2026 results, with written premium growth of 19%, driven by a record 279,000 new members added and surpassing the $3 million vehicle insured milestone. The company raised its full-year 2026 guidance, now expecting written premium growth of 16% to 17%, GAAP net income of $18 million to $30 million, and adjusted EBITDA of $270 million to $280 million. The State Farm partnership is accelerating, with agents selling new Hagerty policies in 37 states and conversions of existing policies progressing on pace to complete by 2028. Hagerty Re's combined ratio remained strong at 88% for the first half, demonstrating exceptional underwriting discipline and a loss ratio of 41%. The acquisition of Bennix, the second largest specialty motorcycle insurer in the UK, immediately triples Hagerty's scale in that market and is expected to be a strategic growth driver. The company's marketplace business, particularly Broad Arrow, saw sales increase 74% in the first half, with a 91% sell-through rate, reinforcing the customer acquisition flywheel. Operating cash flow nearly doubled to $186 million in the first half of 2026, reflecting the improved economics of the new Markel fronting arrangement. Reported GAAP revenue declined 6% in the first half of 2026, and the company posted a GAAP net loss of $5 million due to accounting mechanics from the new Markel fronting arrangement, which may confuse investors. The company's retention rate declined by 50 basis points year-over-year to 88%, with a slight downtrend in the core book, although management noted it is within historical range. The Enthusiast Plus program is still in its early stages, and while performing in line with revised pricing assumptions, it remains a startup mode with limited contribution to overall results. The company's GAAP presentation will continue to be impacted by the Markel fronting transition throughout 2026, with a $41 million cumulative benefit from capitalized acquisition expenses expected to diminish in the second half. Capital allocation priorities do not include returning capital to shareholders in the near term, as the company focuses on investing in growth and strategic acquisitions. The company faces inflationary pressures on loss costs, which were noted as a factor in the second quarter combined ratio of 90%. Private sales in the marketplace business were down against the prior year period, which had benefited from a large single-owner collection sale. Q: Can you expand on the progress made in securing larger cohorts of vehicles with Progressive and trial programs with other national carriers?A: McKeel Hagerty (CEO & Chairman) noted that Progressive is a long-standing partnership that has expanded significantly, with the relationship now covering vehicles 25 years old and older, adding 17 years of additional cohorts. Patrick McClymont (CFO) added that this evolution from pre-1981 cars to 25 years and older has opened up a much larger addressable market. The company is also piloting programs with Liberty Mutual and other national carriers, which are performing well and will contribute to future growth. Q: What drove the significant increase in new business count from $100,000 to $160,000 in the quarter?A: Patrick McClymont (CFO) explained that while the traditional business continues to grow at a strong rate, the big bump is from State Farm conversions. The company is now in the conversion phase in 15 states, transitioning State Farm's existing 525,000 collector car policies to the Hagerty platform. This conversion process will continue through the balance of 2026 and into 2027, with finalization expected by late 2027 or early 2028. Q: Can you provide color on the contribution between Enthusiast Plus, legacy Hagerty, and State Farm in the quarter, and is Enthusiast Plus driving the upside to guidance?A: McKeel Hagerty (CEO & Chairman) stated that the growth is across the board, with almost every channel firing on all cylinders. While Enthusiast Plus is a piece of it, it remains in startup mode, having expanded from Colorado to three additional states in July. The company is absorbing a massive amount of State Farm business, and the overall momentum from the back half of last year has carried through the first half of 2026, contributing to the raised guidance. Q: How should we think about the accounting noise from the Markel transition impacting 2027, and can adjusted EBITDA growth keep pace with written premium growth?A: Patrick McClymont (CFO) explained that the $199 million transition cost will be fully amortized by the end of 2026 and will not appear in 2027. The deferred acquisition cost dynamic will also normalize by year-end, with 2027 representing a steady-state P&L. While not providing formal 2027 guidance, he noted that the economics of the business are largely driven by insurance growing in the mid-teens, and consensus estimates are a reasonable starting point for modeling. Q: Retention declined 50 basis points year-over-year and 30 basis points sequentially. What trends are you seeing, and how much is from the State Farm book mix?A: Patrick McClymont (CFO) attributed the decline to a slight downtrend in the core book, but noted it remains within the historical range and gives no particular pause. The State Farm book is converting at a very high rate given its young age, and new business placed over the past year is retaining well. The mix shift from State Farm is not a concern. Q: What is driving the high incremental EBITDA margin implied by the increased guidance versus revenue?A: Patrick McClymont (CFO) cited three factors: overall performance year-to-date has been strong and ahead of internal expectations; cost efficiencies have put the company in a better spot relative to internal plans; and the marketplace business is contributing more profitability than expected, with strong auction and private sales and significant events upcoming in the second half. Q: Are there differences in premium per policy or loss experience for the modern enthusiast business versus the legacy older vehicle business?A: Patrick McClymont (CFO) explained that the traditional business is driven largely by agreed value and underwriting, with rates consistent regardless of vehicle age. For Enthusiast Plus, which covers vehicles used more frequently with different storage underwriting, premiums are higher. This program is still in early stages and will flow through the P&L over time. Q: Has the strategy around pitching to the 54,000 independent agents shifted, and how are you activating them?A: McKeel Hagerty (CEO & Chairman) stated that the independent agent channel is a key growth strategy. The company has built a dedicated team led by Adam to focus on the most productive agents, using data, communications, and education to shift the perspective that classic cars are just very old vehicles. The goal is to help agents identify enthusiast vehicles in their daily driver books and route them to Hagerty. Q: How should we think about the M&A pipeline and capital allocation following the Bennett's acquisition?A: McKeel Hagerty (CEO & Chairman) indicated that Bennett's was an opportunistic acquisition that triples the company's scale in the UK motorcycle market. The company is cautious about integration issues and does not actively scour for acquisitions, but will act when opportunities arise. Patrick McClymont (CFO) reiterated that capital allocation priorities are: investing in the business for high returns, evaluating modest strategic acquisitions, and returning capital to shareholders is not on the near-term agenda given the high returns available from organic investment. Q: Does the non-reversing tax difference from the seeding commission deduction carry into 2027?A: Patrick McClymont (CFO) explained that the dynamic will always exist due to consolidation accounting, but will be less impactful over time. As net income grows in 2027 with the removal of the $199 million transition cost, the impact will be less visible in the tax line, normalizing the effective tax rate. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Increases 2026 Growth Outlook First Half 2026 Highlights: Strong underlying operational performance with record growth in members, written premium, and earned premium First half 2026 Written Premium grew 19% year-over-year to $713 million First half 2026 Earned Premium increased 42% to $492 million Transition to Markel Fronting Arrangement on January 1, 2026 resulted in decrease to reported revenue as previously disclosed First half 2026 Net Loss of $5 million, including $153 million of pre-tax Markel Fronting Arrangement transitional costs, compared to Net Income of $74 million in the prior year period First half 2026 Adjusted EBITDA (a non-GAAP measure) increased 32% to $160 million, compared to $121 million in the prior year period First half 2026 Cash Flow from Operating Activities increased 91% to $186 million Increased 2026 Outlook — Written Premium growth of 16% to 17%, Net Income of $18 to $30 million, and Adjusted EBITDA of $270 to $280 million TRAVERSE CITY, Mich., Aug. 5, 2026 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY) makes it easier and more enjoyable for car enthusiasts to drive and celebrate the vehicles they love — through specialty vehicle insurance, live and digital auctions, engaging media and events, and the Hagerty Drivers Club, the world's largest membership community of car lovers. Today the company announced financial results for the three and six months ended June 30, 2026. "The first half of 2026 has been the best in Hagerty's history, and our results give us the confidence to significantly increase our full year outlook. We delivered year-to-date written premium growth of 19% and Adjusted EBITDA gains of 32%, reflecting the compounding power of our model as we now control 100% of the economics on our U.S. book. This is what forty years of building trust — one member, one partner, one car at a time — looks like when the flywheel hits its stride," said McKeel Hagerty, Chief Executive Officer and Chairman of Hagerty. "Our momentum is showing up across every part of the Hagerty ecosystem, including crossing three million insured vehicles. Broad Arrow delivered first half revenue growth of 17%, with a 91% auction sell-through rate and demand from buyers on multiple continents. And in the third quarter, we will welcome the team and members of Bennetts, the United Kingdom's second largest specialty motorcycle insurance broker to the Hagerty family, tripling our scale in that market," added Mr. Hagerty. SECOND QUARTER 2026 FINANCIAL HIGHLIGHTS Second quarter 2026 Written Premium increased 19% year-over-year to $425 million, and year-to-date 2026 Written Premium increased 19% year-over-year to $713 million Second quarter 2026 Hagerty Re Earned Premium increased 42% year-over-year to $252 million, and year-to-date 2026 Earned Premium increased 42% year-over-year to $492 million Second quarter 2026 MGA+ reporting unit Commission and fee revenue increased 17% to $167 million, and year-to-date 2026 MGA+ reporting unit Commission and fee revenue increased 18% year-over-year to $287 million, reflecting organic growth in the Essentia and State Farm books of business Second quarter 2026 Marketplace revenue increased 48% year-over-year to $40 million, and year-to-date 2026 Marketplace revenue increased 17% year-over-year to $65 million Second quarter 2026 Membership and other revenue increased 3% year-over-year to $21 million, and year-to-date 2026 Membership and other revenue increased 5% year-over-year to $43 million Second quarter 2026 Net investment income increased 17% year-over-year to $11 million, and year-to-date 2026 Net investment income increased 15% year-over-year to $21 million Second quarter 2026 Total Revenue decreased 6% year-over-year to $355 million, and year-to-date 2026 Total Revenue decreased 6% year-over-year to $667 million, reflecting the transition to the Markel Fronting Arrangement Second quarter 2026 Hagerty Re Loss Ratio was 42.7% compared to 42.3% in the prior year period, and year-to-date 2026 Hagerty Re Loss Ratio was 40.6% compared to 42.2% in the prior year period Second quarter 2026 Policy acquisition costs, net increased 1% to $84 million, and year-to-date 2026 Policy acquisition costs, net increased 16% to $186 million. The year-to-date increase is primarily due to the transition of our business under the Markel Fronting Arrangement, which resulted in incremental ceding commission expense for in-force policies written in 2025 and assumed at 100% on January 1, 2026, as well as an increase in earned premium The transition to the Markel Fronting Arrangement and adoption of Article 7 reporting standards for insurance companies reclassified certain costs among expense captions on the Condensed Consolidated Statements of Operations, reducing period-over-period comparability of individual captions without affecting total expenses. Beginning in 2026, following our assumption of control over the Essentia book of business, operating costs incurred by our U.S. MGA subsidiary in support of risk-taking activities are classified within Underwriting and other insurance expenses, versus Selling, general, and administrative expenses Second quarter 2026 Income before taxes of $2 million, including $64 million of Markel Fronting Arrangement transitional costs, and year-to-date 2026 Loss before taxes of $19 million, including $153 million of Markel Fronting Arrangement transitional costs Second quarter 2026 Net Income of $8 million, including $64 million of pre-tax Markel Fronting Arrangement transitional costs, compared to Net Income of $47 million in the prior year period, and year-to-date 2026 Net Loss of $5 million, compared to Net Income of $74 million in the prior year period, including $153 million of pre-tax Markel Fronting Arrangement transitional costs Second quarter 2026 Adjusted EBITDA (a non-GAAP measure) increased 3% year-over-year to $75 million, compared to $73 million in the prior year period, and year-to-date 2026 Adjusted EBITDA increased 32% year-over-year to $160 million, compared to $121 million in the prior year period Second quarter 2026 Basic and Diluted Loss Per Share were $(0.02), and year-to-date 2026 Basic and Diluted Loss Per Share were $(0.08) Second quarter 2026 Adjusted Diluted Loss Per Share (a non-GAAP measure) was $(0.02), and year-to-date 2026 Adjusted Diluted Loss Per Share was $(0.05) First half 2026 Cash Flow from Operating Activities increased 91% to $186 million The Company had $298 million of unrestricted cash and $216 million of total debt, $88 million of which was back leverage for Broad Arrow Capital's portfolio of loans collateralized by collector cars The definitions and reconciliations of non-GAAP financial measures are provided under the heading Key Performance Indicators and Non-GAAP Financial Measures at the end of this press release. INCREASED 2026 OUTLOOK - COMPOUNDING GROWTH We believe 2026 is on track to be another great year of underlying profit growth for Hagerty as our team executes on our long-term plan to deliver compounding premium growth through investing in our long-term competitive advantages with our member-centric approach. As of January 1, 2026, we moved to a 100% quota share arrangement with our long-term partner, Markel, where we retain 100% of the premium and risk from our high-quality, historically low volatility underwriting. We also remain focused on delivering this growth more efficiently through the benefits of scale, continued cost discipline, and investments in our technology platform. For full year 2026, Hagerty anticipates: Conference Call Details Hagerty will hold a conference call to discuss the financial results on Wednesday, August 5, 2026 10:00 am Eastern Time. A webcast of the conference call, including its Investor Presentation highlighting second quarter 2026 financial results, will be available on Hagerty's investor relations website at investor.hagerty.com. The dial-in for the conference call is (877) 423-9813 (toll-free) or (201) 689-8573 (international). Please dial the number 10 minutes prior to the scheduled start time. A webcast replay of the call will be available at investor.hagerty.com following the call. Forward-Looking Statements This press release contains statements that constitute "forward-looking statements" within the meaning of the federal securities laws. All statements we provide, other than statements of historical fact, are forward-looking statements, including those regarding Hagerty's future operating results and financial position, Hagerty's business strategy and plans, products, services, and technology implementations, market conditions, growth and trends, expansion plans and opportunities, and Hagerty's objectives for future operations. The words "anticipate," "believe," "envision," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," "ongoing," "contemplate," and similar expressions, and the negatives of these expressions, are intended to identify forward-looking statements. Hagerty has based these forward-looking statements largely on current expectations about future events, which may not materialize. Actual results could differ materially and adversely from those anticipated or implied in forward-looking statements. These factors include, among other things, Hagerty's ability to: (i) compete effectively within Hagerty's industry and attract and retain insurance policyholders and paid Hagerty Drivers Club ("HDC") subscribers; (ii) maintain key strategic relationships with Hagerty's insurance distribution and underwriting carrier partners; (iii) prevent, monitor, and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages, or other issues with Hagerty's technology platforms or use of third-party services; (v) accelerate the adoption of Hagerty's membership and marketplace products and services, as well as any new insurance programs and products offered; (vi) successfully implement the fronting arrangement consummated with Markel and realize the anticipated benefits while also managing the increased exposure to underwriting volatility, catastrophes, reinsurance counterparty risk, and legal, compliance, and regulatory risks resulting from the shift to Hagerty Re assuming 100% of the risk for policies written through this arrangement; (vii) underwrite and price new products, including Enthusiast+, consistent with expected loss ratios and risk tolerances; (viii) execute Broad Arrow's private sale, auction, and financing strategies; (ix) complete the acquisition of Bennetts Motorcycling Services Limited ("Bennetts") on the expected terms or timeline, or at all, or realize the anticipated benefits of the Bennetts acquisition, including expected earnings enhancements and synergies; (x) achieve Hagerty's investment objectives and avoid losses in the investment portfolio; (xi) manage the cyclical nature of the insurance business and broader macroeconomic conditions, including inflation, interest rates, and potential recessionary pressures; (xii) address unexpected increases in the frequency or severity of claims, including catastrophe losses; and (xiii) comply with numerous laws and regulations applicable to Hagerty's business, including without limitation state, federal, and foreign laws relating to insurance and rate increases, privacy and cybersecurity, marketing and advertising, digital services, accounting matters, tax, anti-money laundering, and economic sanctions. The forward-looking statements in this release represent Hagerty's views as of the date hereof. You should not rely on forward-looking statements as predictions of future events. We operate in a very competitive and rapidly changing environment and new risks emerge from time to time. This presentation should be read in conjunction with the information included in filings with the SEC and press releases. Understanding the information contained in these filings is important in order to fully understand Hagerty's reported financial results and business outlook for future periods. In addition, this press release contains certain "non-GAAP financial measures". The non-GAAP measures are presented for supplemental informational purposes only. These financial measures are not recognized measures under GAAP and should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Reconciliations to the most directly comparable financial measure calculated and presented in accordance with GAAP are provided in the appendix to this press release. About Hagerty, Inc. (NYSE: HGTY) Hagerty is a company built by drivers for drivers, protecting 3.0 million vehicles in the United States, Canada and the UK. We make it easier and more enjoyable for car enthusiasts to drive and celebrate the vehicles they love through innovative vehicle insurance products, live and digital auctions, engaging media and events, and the Hagerty Drivers Club, the world's largest membership community of car lovers. For more information, please visit www.hagerty.com or www.newsroom.hagerty.com. Never Stop Driving®. Category: Financial Source: Hagerty Key Performance Indicators and Non-GAAP Financial Measures Key Performance Indicators The tables below present a summary of our Key Performance Indicators, which include important operational metrics, as well as certain financial measures prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and non-GAAP financial measures. We use these Key Performance Indicators to evaluate our business, measure our performance, identify trends against planned initiatives, prepare financial projections, and make strategic decisions. We believe these Key Performance Indicators are useful in evaluating our performance when read together with our Condensed Consolidated Financial Statements prepared in accordance with GAAP. Adjusted EBITDA We define EBITDA as consolidated Net income (loss), excluding Interest expense and other, net, Income tax expense (benefit), and Depreciation and amortization. We define Adjusted EBITDA as EBITDA, further adjusted to (i) exclude net investment gains and losses; (ii) deduct interest expense related to the State Farm Term Loan; (iii) exclude share-based compensation expense; and when applicable, exclude (iv) restructuring, impairment and related charges; (v) gains, losses and impairments related to divestitures; and (vi) certain other unusual items, such as Markel Fronting Arrangement transitional costs during the three and six months ended June 30, 2026. How This Measure is Useful When used in conjunction with GAAP financial measures, Adjusted EBITDA is a supplemental measure of operating performance that we believe is a useful measure to evaluate our performance period over period and relative to our competitors and peers. Management uses Adjusted EBITDA to evaluate our operating performance on a consistent basis, as it removes the impact of items not directly resulting from our core operations. We believe the presentation of Adjusted EBITDA provides securities analysts, investors, and other interested parties with a supplemental view of our operating performance that enhances their understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives. Limitations of the Usefulness of This Measure Adjusted EBITDA may differ from similarly titled measures used by other companies due to different methods of calculation, which could reduce the usefulness of this non-GAAP financial measure when comparing our performance to that of other companies. Presentation of Adjusted EBITDA should not be considered in isolation or a substitute for, or superior to, the financial information prepared in accordance with GAAP. A reconciliation of Adjusted EBITDA to Net income (loss), the most directly comparable GAAP measure, is presented below. As a result of our transition to Article 7 reporting standards, Net investment income is reported as a component of revenue and is no longer an adjustment in our reconciliation from Net income (loss) to Adjusted EBITDA. In addition, interest expense related to the State Farm Term Loan is now deducted from Adjusted EBITDA as it is directly attributable to Hagerty Re, which generates a significant portion of our net investment income. The following table presents a reconciliation of Adjusted EBITDA as presented in the prior period in accordance with Article 5, to the current presentation in accordance with Article 7: The following table reconciles Adjusted EBITDA for the year ended December 31, 2026 Outlook to the most directly comparable GAAP measure, which is Net income: Adjusted Net Income (Loss) and Adjusted Diluted EPS Adjusted Net Income (Loss) represents Net income (loss) attributable to Class A Common Stockholders, assuming the full exchange of all outstanding THG units and Series A Convertible Preferred Stock for shares of Class A Common Stock, adjusted to exclude (i) net investment gains and losses; and when applicable, (ii) changes in the TRA Liability; (iii) gains and losses related to divestitures; and (iv) certain other unusual items. Adjusted Diluted EPS is calculated by dividing Adjusted Net Income (Loss) by the weighted average shares of Class A Common Stock outstanding, assuming the full exchange of all outstanding THG units, Series A Convertible Preferred Stock, and unvested share-based compensation awards. How These Measures Are Useful When used in conjunction with GAAP financial measures, Adjusted Net Income (Loss) and Adjusted Diluted EPS are supplemental measures of operating performance that we believe are useful measures to evaluate our performance period over period and relative to our competitors and peers. Management uses Adjusted Net Income (Loss) and Adjusted Diluted EPS to evaluate our operating performance on a consistent basis, as it removes the impact of items not directly resulting from our core operations. We believe these measures provide securities analysts, investors, and other interested parties with a supplemental view of our operating performance that enhances their understanding of our business and results of operations that may not otherwise be apparent when relying solely on GAAP measures. By assuming the full exchange of all outstanding THG units and Series A Convertible Preferred Stock, we believe these measures facilitate comparisons with other companies that have different organizational and tax structures, as well as comparisons period over period because it eliminates the effect of any changes in Net income (loss) attributable to Class A Common Stockholders driven by increases in Hagerty, Inc.'s ownership in THG, which is unrelated to our operating performance, and excludes items that are unusual or may not be indicative of our ongoing performance. Limitations of the Usefulness of These Measures Adjusted Net Income (Loss) and Adjusted Diluted EPS may differ from similarly titled measures used by other companies due to different methods of calculation, which could reduce the usefulness of this non-GAAP financial measure when comparing our performance to that of other companies. Presentation of Adjusted Net Income (Loss) and Adjusted Diluted EPS should not be considered in isolation or a substitute for, or superior to, the financial information prepared in accordance with GAAP. While these measures are useful in evaluating our performance, they assume the full exchange of all outstanding THG units and Series A Convertible Preferred Stock for shares of Class A Common Stock, which has not occurred and may not occur. Further, the adjustments made to arrive at Adjusted Net Income (Loss) exclude certain expenses and income that may recur in the future. Adjusted Net Income (Loss) and Adjusted Diluted EPS should be evaluated in conjunction with our GAAP financial results. A reconciliation of Adjusted Net Income (Loss) to Net income (loss) attributable to Class A Common Stockholders, the most directly comparable GAAP measure, and the computation of Adjusted Diluted EPS are presented below. Comparability Bridge Due to the expanded underwriting and claims authority granted to us under the Markel Fronting Arrangement, we now control the Essentia book of business. While our U.S. MGA subsidiary and Hagerty Re continue to operate in the same manner they have historically, beginning on January 1, 2026, the benefit of our MGA services is being received by Hagerty Re and not Essentia. As a result, effective in the first quarter of 2026, we are no longer recognizing commission revenue or the associated ceding commission expense for Essentia-originated policies in our Condensed Consolidated Financial Statements. However, ceding commission expense associated with Essentia policies issued in 2025 will continue to be recognized ratably over the remaining term of those policies throughout 2026. In addition, policy acquisition costs incurred by our U.S. MGA subsidiary for Essentia policies issued in 2026 are being deferred and amortized over the policy term. Accordingly, our entry into the Markel Fronting Arrangement has reduced the period‑to‑period comparability of our Condensed Consolidated Financial Statements. The following table provides a reconciliation of the standalone results of operations for our Hagerty Re and MGA+ reporting units for the three months ended June 30, 2026, which reflect the continuing operations of those businesses, to total insurance segment results of operations included in our Condensed Consolidated Statements of Operations: The following table provides a reconciliation of the standalone results of operations for our Hagerty Re and MGA+ reporting units for the six months ended June 30, 2026, which reflect the continuing operations of those businesses, to our Condensed Consolidated Statements of Operations. This table is presented solely to improve the year-over-year comparability of our financial statements and should not be viewed on a standalone basis. It should be read together with our Condensed Consolidated Statements of Operations and the accompanying notes. 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NMI Holdings (NMIH) came out with quarterly earnings of $1.38 per share, beating the Zacks Consensus Estimate of $1.28 per share. This compares to earnings of $1.22 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +7.81%. A quarter ago, it was expected that this mortgage insurance company would post earnings of $1.22 per share when it actually produced earnings of $1.28, delivering a surprise of +4.92%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. NMI Holdings, which belongs to the Zacks Insurance - Property and Casualty industry, posted revenues of $187.89 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.73%. This compares to year-ago revenues of $173.78 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. NMI Holdings shares have added about 8.7% since the beginning of the year versus the S&P 500's gain of 6.9%. While NMI Holdings has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for NMI Holdings was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.33 on $186.14 million in revenues for the coming quarter and $5.11 on $741.71 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Property and Casualty is currently in the bottom 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Hagerty, Inc. (HGTY), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5. This company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of -161.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Hagerty, Inc.'s revenues are expected to be $321.01 million, down 12.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NMI Holdings Inc (NMIH) : Free Stock Analysis Report Hagerty, Inc. (HGTY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Selective Insurance (SIGI) came out with quarterly earnings of $1.95 per share, beating the Zacks Consensus Estimate of $1.72 per share. This compares to earnings of $1.31 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +13.37%. A quarter ago, it was expected that this insurance holding company would post earnings of $1.73 per share when it actually produced earnings of $1.69, delivering a surprise of -2.31%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Selective Insurance, which belongs to the Zacks Insurance - Property and Casualty industry, posted revenues of $1.38 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.96%. This compares to year-ago revenues of $1.32 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Selective Insurance shares have added about 14.8% since the beginning of the year versus the S&P 500's gain of 9.6%. While Selective Insurance has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Selective Insurance was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.83 on $1.38 billion in revenues for the coming quarter and $7.84 on $5.5 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Property and Casualty is currently in the bottom 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Hagerty, Inc. (HGTY), has yet to report results for the quarter ended June 2026. This company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of -161.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Hagerty, Inc.'s revenues are expected to be $321.01 million, down 12.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Selective Insurance Group, Inc. (SIGI) : Free Stock Analysis Report Hagerty, Inc. (HGTY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Hagerty, Inc.? Here are five stocks we like better. Hagerty posted its strongest first quarter to date, with written premiums up 18% to $289 million, policies in force up 15%, and adjusted EBITDA rising 77% to $85 million. Management said growth was driven by new business and record policy additions rather than rate increases. GAAP results were pressured by accounting changes tied to Hagerty’s new Markel reinsurance/fronting structure, which caused reported revenue to fall 5% and led to a $13 million net loss. The company said the drag from deferred ceding commission amortization should wind down to zero by year-end 2026. Partnerships and auctions remain major growth engines, with State Farm conversion progress on track and Broad Arrow delivering record Amelia auction sales of $111 million. Hagerty reaffirmed full-year 2026 guidance and said results are trending toward the high end of its targets. MarketBeat Week in Review – 12/4 - 12/8 Hagerty (NYSE:HGTY) reported what executives described as its strongest first-quarter performance to date, citing record policy additions, accelerating premium growth and improved adjusted earnings, even as accounting changes tied to a new reinsurance structure weighed on GAAP results. On the company’s Q1 2026 earnings call, CEO and Chairman McKeel Hagerty said written premiums increased 18% year over year, ahead of the company’s full-year expectations. He said the quarter marked Hagerty’s 13th consecutive quarter of executing on its growth strategy. → Rocket Lab Posts Record Q1 Revenue, Raises Q2 Guidance Suddenly markets are betting on Hagerty, AutoZone after UAW “We are off to an excellent start to 2026,” McKeel Hagerty said, adding that the company added a record 112,000 policies during what is typically a seasonally lighter quarter. Chief Financial Officer Patrick McClymont said written premium totaled $289 million in the quarter, up 18% from the prior-year period. Earned premium rose 42% to $240 million, reflecting both premium growth and Hagerty Re assuming 100% of the underwriting risk on the company’s U.S. book of business beginning Jan. 1. → Beyond NVIDIA: Picks-and-Shovels AI Plays with Strong Momentum The company reported 15% growth in policies in force, while retention remained at 89%, a level management characterized as industry-leading. McKeel Hagerty said growth has been driven by new business count rather than rate increases, distinguishing the company from broader trends in standard auto insurance. McClymont said Hagerty Re’s combined ratio was approximately 87% in the quarter, with a 38% loss ratio. The company also reduced reserves by $6 million due to favorable prior-year development. During the question-and-answer session, McClymont said the reserve reduction was approximately $6.5 million and was predominantly related to the 2025 accident year. → MarketBeat Week in Review – 05/04 - 05/08 Adjusted EBITDA increased 77% to $85 million. McClymont said adjusted EBITDA is the metric management believes best reflects the company’s operating momentum, given the current year’s accounting complexity. Despite the premium growth, Hagerty reported a 5% decline in GAAP revenue and a net loss of $13 million for the quarter. Executives attributed the divergence between underlying business performance and GAAP results to the company’s new fronting arrangement with Markel. McClymont said that under the new structure, MGA commission revenue and associated ceding commission expense that previously appeared gross on the income statement now eliminate in consolidation. He said this explains why reported revenue declined even as written premiums rose. The quarter also included $89 million of costs from the amortization of deferred ceding commissions tied to policies written before 2026. McKeel Hagerty described the charge as “settling the tab on the old structure,” noting that the costs are expected to wind down to zero by year-end 2026. Hagerty reported a Q1 loss before taxes of $21 million, a net loss attributable to Class A common shareholders of $7 million, and GAAP basic and diluted loss per share of $0.06, based on 101 million weighted average Class A shares outstanding. Adjusted diluted loss per share was $0.04, based on 361 million fully diluted shares. Management highlighted Hagerty’s partnership with State Farm as a major contributor to policy growth. McKeel Hagerty said the State Farm Classic+ program is expected to have 19,000 agents selling new business in 40 states by year-end. He also said the conversion of State Farm’s existing 525,000 collector car policies to Hagerty’s platform remains on pace, with most expected to be converted by the end of 2027. In response to an analyst question, McClymont said State Farm conversions are not seasonal and are based on the rollout schedule with State Farm. He said Hagerty expects to be selling in almost all states by the end of 2027, though some states could stretch beyond that due to regulatory complexity. Executives also pointed to Hagerty’s independent agency channel, which includes 50,000 agents, as an area with significant potential. McKeel Hagerty said the company is investing in tools such as straight-through processing and automated systems to help agents identify enthusiast vehicles already in their books of business. Hagerty’s marketplace business was another focus of the call. McKeel Hagerty said Broad Arrow Auctions generated $111 million in total sales during a two-day sale at Amelia Car Week in Jacksonville, Florida, 50% higher than any prior Amelia auction. The event had a 92% sell-through rate and set 12 pricing records. The top sale was a 2003 Ferrari Enzo that sold for more than $15 million. McKeel Hagerty said the auction results show the strength of demand for modern enthusiast vehicles and support Hagerty’s broader business model. “Every car that trades hands at a Broad Arrow auction is a potential Hagerty insurance policy,” he said. Marketplace revenue was $26 million in the quarter, down 12%. McClymont said the decline reflected lower inventory sales compared with the prior year’s one-time sale at the Academy of Art University, despite record auction results at Amelia. Management also said Broad Arrow’s Porsche Air|Water auction in April saw sales rise 30% year over year with an 84% sell-through rate. In May, Broad Arrow is scheduled to return as the official auction partner of the Concorso d’Eleganza Villa d’Este with BMW Group on Lake Como, Italy. Hagerty reaffirmed its full-year 2026 guidance, which calls for written premium growth of 15% to 16%, adjusted EBITDA of $236 million to $247 million, and a GAAP net loss of $41 million to $51 million. McClymont said the company is trending toward the high end of those ranges but will revisit its outlook after the second quarter, consistent with its prior practice. McClymont cautioned analysts against annualizing the first-quarter adjusted EBITDA result, noting that the business remains seasonal and that expenses are expected to ramp through the year as Hagerty invests in headcount, technology, claims capabilities, B2B distribution, Broad Arrow, its digital marketplace and other initiatives. For 2027, McClymont said Hagerty expects a more normalized income statement after the 2026 accounting transition, with revenue growth more closely tracking written premium growth. He also said the company anticipates another year of mid-teens written premium growth, while continuing to invest for long-term member growth. Hagerty ended the quarter with $212 million in unrestricted cash, more than $1.1 billion in total investments and $229 million in total debt, including $110 million of leverage tied to Broad Arrow’s loan portfolio. Hagerty is a specialized automotive lifestyle and insurance company that caters primarily to collectible car enthusiasts. Its core business centers on offering classic vehicle insurance policies designed to protect antique, vintage and specialty automobiles, motorcycles and boats. These policies typically feature agreed-value coverage, flexible usage options and access to restoration services, aligning with the unique needs of collectors and hobbyists. Beyond insurance, Hagerty operates a comprehensive suite of community and content services under its automotive lifestyle brand. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Hagerty Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.