Hagerty Inc. (HGTY) is a leading international insurance company specialising in classic cars and speciality vehicles. Founded in 1984 by parents of Frank and Louise Hagerty, the firm has grown tremendously due to its commitment to providing unmatched services to car enthusiasts. The firm is headquartered in Traverse City, Michigan, US, but it operates globally with offices in the UK, Germany, and Canada.
The company's primary product is offerings insurance plans that offer guaranteed value coverage. As a leader in the classic car insurance industry, Hagerty's policies are underwritten by some of the most successful insurance companies globally, ensuring that their clients receive reliable coverage that matches and often exceeds their expectations.
Apart from just offering insurance policies, Hagerty Inc. also prides itself on its deep understanding of classic cars and their community. The company has positioned itself in this niche by offering services such as market valuation data, restoration support, and relevant, engaging content to its community of clients. Additionally, they run the Hagerty Drivers Club, a comprehensive service platform that provides lifestyle benefits and unique experiences for automotive enthusiasts.
Hagerty Inc. is also known for its significant initiatives in promoting car culture. Through its Hagerty Youth Program, it aims to educate young individuals on the industry's aspects, including preservation and restoration of vintage cars. This initiative reflects the company's commitment to ensuring that the passion for classic vehicles is sustained in future generations.
Despite its many years in operation, Hagerty Inc. remains a family-owned business, ensuring that its core values of care, integrity, innovation, agility, courage, and authenticity are upheld. Its main aim has always been to save driving and protect car culture for future generations. With its thorough knowledge of the cars, it insures and its commitment to its customers, it is clear why Hagerty Inc. continues to be a trusted name in the market.
The combination of Hagerty’s extent and depth of experience in the automotive industry, ensuring seamless customer service, continued passion, commitment to education, and credibility, has garnered immense success for the firm. This success has led to its widespread recognition and appreciation, making it a unique player in the insurance industry. For these reasons, Hagerty Inc. remains a preferred choice for car enthusiasts looking for comprehensive, reliable, and understanding coverage.
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Hagerty Holding Corp. (HHC) sold 10,637,500 Class A shares at $11.95 each on September 9, 2026, while retaining rights to 155,914,656 potential Class A shares. This strategy allows HHC to maintain approximately 66.1% of Hagerty's voting power. Additionally, Hagerty, Inc. issued 18,473,911 Class A shares through exchange transactions involving HHC and Markel Group, Inc.
Hagerty Holding Corp. (HHC) recently sold 10.6 million Class A shares at $11.95 each, while also issuing over 18 million Class A shares through exchange transactions. Despite this sale, HHC maintains a dominant ownership position, holding 56.5% of potential Class A shares and 66.1% of Hagerty's voting power. The company's annual exchange rights allow for conversion of up to 2% of fully diluted Class A shares, provided HHC retains a minimum of 55% voting power.
Hagerty Holding Corp. converted and sold over 10.6 million Paired Interests in Hagerty, Inc. Class A Common Stock for $11.472 per share across two transactions on September 9 and September 11, 2026. These transactions, executed under an existing exchange agreement, still leave Hagerty Holding Corp. with over 155 million Class V Common Stock units (Paired Interests). The holding company remains a 10% owner of Hagerty, Inc. following these sales.
Hagerty Inc. (HGTY) completed a secondary share offering on September 11, 2026, where 10,637,500 shares were sold at $11.95 per share by Hagerty Holding Corp. The proceeds from this sale went to Hagerty Holding Corp. to redeem shares for the Kim Hagerty Revocable Trust, not directly to Hagerty Inc. for its operations. Analysts currently rate HGTY as a Hold with a $14.00 price target, and TipRanks' AI Analyst identifies it as Neutral due to strong cash flow but notes concerns with revenue deceleration, balance sheet leverage, and valuation.
Hagerty, Inc. (NYSE: HGTY) announced a secondary public offering of 8,250,000 shares of its Class A Common Stock by Hagerty Holding Corp. (HHC). Hagerty will not receive any proceeds from this sale, as HHC intends to use the net proceeds to redeem a corresponding number of its shares for the benefit of the Kim Hagerty Revocable Trust. Wells Fargo Securities and J.P. Morgan are serving as lead bookrunning managers for the offering.