Hagerty names Diana Chafey as new Chief Legal Officer, announces General Counsel Barbara Matthews' retirement from Hagerty

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08/02/2023 - 01:00 PM

TRAVERSE CITY, Mich., Aug. 2, 2023 /PRNewswire/ -- Hagerty, Inc., (NYSE: HGTY) an automotive lifestyle brand and a leading specialty insurance provider, announced today that it has named Diana M. Chafey as its Chief Legal Officer and Corporate Secretary. She will succeed Barbara Matthews who is retiring from Hagerty. Matthews has served as Hagerty's General Counsel and Senior Vice President of Legal since 2007 and will remain with the company in a senior advisor role through the end of 2023 to help ensure a seamless transition.

"On behalf of the Board of Directors and leadership team, we are incredibly grateful for Barbara's work throughout her tenure at Hagerty," said McKeel Hagerty, CEO of Hagerty. "From the many complex partnerships we forged over the years with the nation's largest insurance companies to helping us establish an independent Board of Directors and shepherding us through the complicated process of becoming a publicly traded company, Barbara has always been a steady and trusted advisor."

Matthews said, "I am proud of the role I have played in helping Hagerty grow and flourish as a company. We had big dreams when I started here in 2007 and it has been gratifying to see them come to fruition. I want to thank the Hagerty family, the Board of Directors and everyone that I have had the honor to work with over the years. It has truly been a rewarding experience."

In her new role, Chafey will serve as a member of Hagerty's senior leadership team and participate in all strategic, management and policy decisions affecting the company's operations and development. She will be responsible for all legal, compliance, governmental and regulatory affairs, and provide advice and counsel to the CEO, leadership team and Board.

"Based on Diana's deep knowledge of the insurance industry, global experience and expertise working with complex regulatory and compliance matters, she is a valuable asset to Hagerty's future growth and profitability," Hagerty continued. "I am confident she will provide excellent strategic guidance to our organization as we enter a new phase of our growth arc."

Chafey is an accomplished legal executive with over 25 years of broad in-house and large law firm success in advising senior executives and boards of directors on complex legal, compliance and risk management matters in highly regulated industries, including insurance industry experience representing domestic and international insurers, reinsurers, intermediaries and service providers in transactional and regulatory matters.

Most recently, Chafey served as Chief Legal Officer and Corporate Secretary for ATI Physical Therapy, a publicly traded nationally recognized rehabilitation provider specializing in physical therapy, workers' compensation, rehab and employer worksite solutions. Prior to ATI, she was the Executive Vice President, Chief Legal Counsel and Corporate Secretary for The Warranty Group (TWG Holdings Limited) where she provided strategic counsel for all global legal and compliance matters and served as Vice President, General Counsel and Corporate Secretary for Interstate Insurance Group and Jefferson Insurance Group. Chafey was also a partner at the law firm DLA Piper USA LLP, where she worked for a decade representing a broad range of domestic and international clients ranging from insurance to reinsurance, financial services and private equity sectors.

Chafey said, "I have admired Hagerty and its passion to cultivate and preserve the collector car ecosystem for many years. I look forward to joining Hagerty and supporting the company's business and growth objectives to create value for stakeholders while enhancing and protecting shareholder value."

About Hagerty, Inc. (NYSE: HGTY)

Hagerty is an automotive lifestyle brand committed to saving driving and fueling car culture for future generations. The company is a leading provider of specialty vehicle insurance, expert car valuation data and insights, live and digital car auction services, immersive events and automotive entertainment custom made for the 67 million Americans who self-describe as car enthusiasts. Hagerty also operates in Canada and the UK and is home to Hagerty Drivers Club, a community of nearly 800,000 who can't get enough of cars. As a purpose-driven organization, Hagerty Impact aims to be a catalyst for positive change across the issues that matter most to our teams, our members, the broader automotive community, our shareholders and the planet at large. For more information, please visit www.hagerty.com or connect with us on Facebook, Instagram, Twitter and LinkedIn.

Investor Contact: Jay Koval, investor@hagerty.com
Media Contact: Andrew Heller, aheller@hagerty.com

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect our current intentions, expectations, or beliefs regarding the business. Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties that are difficult to predict and may be outside of our control. Some of the factors that may cause our actual results to differ materially from those contemplated by our forward-looking statements include: (i) our ability to recognize the anticipated benefits of the subject of this press release; (ii) our ability to compete effectively within our industry and attract and retain members; and (iii) the other risks and uncertainties listed in our Form 10-K filed with the U.S. Securities and Exchange Commission ("SEC") on March 24, 2022. This press release should be read in conjunction with the information included in our other press releases, reports, and other filings with the SEC. Understanding the information contained in those filings is important in order to fully understand our reported financial results and our business outlook for future periods. We do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law.