HAGERTY INC

Company Overview

Hagerty Inc. is a specialty insurance and automotive lifestyle company focused on collector cars and enthusiast vehicles in the Financial Services sector and Insurance - Property & Casualty industry. Its core insurance business uses a “Guaranteed Value” model and is supported by valuation tools, member services, and a large enthusiast community that helps drive retention and cross-sell opportunities. The company also has a growing Marketplace segment that includes vehicle buying and selling, live auctions, private sales, and financing through Broad Arrow Capital. Recent filings show strong momentum in both insurance and marketplace activity, with revenue and profitability improving meaningfully in 2025.

Executive Compensation Practices

Executive compensation at Hagerty is likely tied closely to growth, underwriting performance, and platform expansion, given the company’s mix of insurance, membership, and marketplace businesses. The filings point to key metrics that could influence bonuses and incentive pay, including written premium growth, policy retention, new business growth, combined ratio, Adjusted EBITDA, and net income. Because insurance profitability improved through lower catastrophe losses and favorable reserve development, management may emphasize underwriting discipline, loss ratio control, and retention rather than pure top-line growth. The company also noted higher salaries and G&A from incentive compensation, headcount growth, software investments, and transaction-related fees, suggesting that pay may include both cash bonuses and equity-based incentives tied to strategic execution and long-term value creation.

Insider Trading Considerations

For insiders, Hagerty’s trading patterns may be influenced by the company’s strong seasonality, insurer-specific loss volatility, and regulatory developments. As a property and casualty insurer with a reinsurance-heavy model, results can be affected by catastrophe losses, reserve changes, investment income, and regulatory capital constraints, which may create periods where insiders have more or less visibility into future earnings. The business also has important strategic catalysts, including the Markel fronting arrangement, the rollout of Enthusiast+, and continued Marketplace expansion, any of which could affect insider confidence and trading activity. Because the company operates across North America and Europe and depends on carrier, reinsurance, and regulatory approvals, insiders may also face heightened blackout periods and trading restrictions around underwriting results, capital actions, and transaction milestones.