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Hagerty, Inc. (NYSE: HGTY) is a globally recognized automotive enthusiast brand, deeply rooted in the car culture with a mission to save driving for future generations. Established initially as a niche insurance agency focusing on collector cars, Hagerty has grown into the world’s largest membership organization for car lovers. The company's offerings include specialty automotive insurance, car valuation data and insights, live and digital car auction services, and a suite of immersive events catering to car enthusiasts.
Hagerty's core business revolves around providing specialty automotive insurance, underwriting, selling, and servicing policies for classic cars and enthusiast vehicles. The majority of its revenue comes from commissions and fees, and it serves customers in Europe, Canada, and the United States.
Key to Hagerty’s appeal is its Hagerty Drivers Club, which boasts over 800,000 members globally. The club offers integrated membership products and unique programs that create engaging experiences for car lovers. Events like the Greenwich Concours d’Elegance and the California Mille, alongside media and valuation services, further cement Hagerty's position in the automotive community.
Hagerty is also notable for its extensive media presence, providing automotive content through various channels including the recently launched Hagerty Media on Samsung TV Plus, reaching millions of viewers with original programming.
Financially, Hagerty has demonstrated robust growth, achieving over $1 billion in revenue in 2023, with expectations of continued strong performance in 2024. The company’s strategic focus on efficiency and expanding its product offerings has resulted in significant profitability improvements. Hagerty is also actively involved in community and environmental initiatives, embodying a purpose-driven approach to its business operations.
Hagerty, a leading automotive lifestyle brand and specialty insurance provider, will report its fourth quarter and full year 2021 financial results on March 24, 2022. The call starts at 5:00 PM Eastern Time, with dial-in options available for participants. The results will be discussed in a conference call that includes a video and slide presentation available on Hagerty's investor relations website. A replay of the webcast will be accessible for 90 days post-call. Visit www.hagerty.com for more information.
Hagerty has appointed Prakash Ranjan as vice president of marketing technology, tasked with leading the company's digital transformation efforts. Ranjan brings extensive experience, having previously held leadership roles at MGM Resorts International and several Fortune 50 companies. His expertise includes AI, cloud computing, and digital strategy. According to Kelly Smith, Hagerty's chief digital officer, Ranjan's knowledge will be essential in engaging the automotive enthusiast community as the company evolves. Hagerty aims to preserve car culture and enhance its global business.
Hagerty has announced its 2022 Allstar Advantage Agents, recognizing top-performing agents within its automotive insurance platform. CEO McKeel Hagerty praised these agents for their vital role in preserving car culture. This elite group includes 15 agencies, which benefit from co-op marketing funds, dedicated account executives, and enhanced visibility on Hagerty's social media. Hagerty aims to save driving and foster car culture for future generations by offering integrated membership products and specialty insurance.
Hagerty, a prominent automotive enthusiast brand and specialty car insurer, has revealed its Top Gear Agents for 2022, recognizing their exceptional performance. CEO McKeel Hagerty praised these agents for their expertise, which is essential for the company's mission to preserve car culture for future generations. This year's list includes 17 elite agencies, such as Gingerbread Insurance Agency LLC and CoVerica. These agencies will benefit from marketing support and enhanced visibility through Hagerty's platforms.
Hagerty, Inc. (NYSE: HGTY) has signed a licensing agreement to produce the Concours d'Lemons motoring festival, celebrating the quirky side of automotive culture. This event will expand Hagerty's portfolio, which includes prestigious shows like The Amelia Concours d'Elegance. The Concours d'Lemons showcases unconventional vehicles and awards humorous prizes, appealing to automotive enthusiasts. The inaugural event under Hagerty’s management is scheduled for March 5, 2022, at The Amelia, emphasizing community and humor in car culture while supporting local charities.
Hagerty, Inc. (NYSE: HGTY) has unveiled a redesigned Valuation Tools website, enhancing user experience with better navigation and more frequent price updates. The platform now provides current and historical pricing for over 40,000 collectible vehicles. Key changes include a quarterly pricing update and tiered access levels. Additionally, Hagerty predicts $211 million in auction sales for the upcoming Arizona Auction week, a 14% decline from 2020, due to fewer auctions and reduced lots. The company aims to preserve car culture and serve the 69 million U.S. car enthusiasts.
Hagerty has launched its new clubhouse and car storage facility, Hagerty Garage + Social Seattle, on December 20, 2021. Located in Redmond, WA, the facility offers storage for over 160 classic and exotic cars along with unique amenities like driving tours and events to engage the local car enthusiast community. This location marks a significant expansion, following previous openings in Chicago, New York, Toronto, and Delray Beach. The clubhouse is open seven days a week and allows 24/7 access for members.
Hagerty has released its fifth annual Bull Market list, showcasing ten vehicles predicted to appreciate in value over the next year. The list emphasizes classic cars from 1963 to 2012, appealing to automotive enthusiasts interested in buying and enjoying their dream cars rather than investing for quick profits. Notable mentions include the 1965-70 Cadillac DeVille ($28,800) and the 1969-74 Ferrari 246 Dino ($365,800). Hagerty aims to guide enthusiasts on timely vehicle purchases in a competitive market, leveraging extensive valuation data to inform these predictions.
Hagerty, an automotive lifestyle brand and specialty insurance provider, celebrated its public listing on the NYSE under ticker symbols HGTY and HGTY.WS on December 6, 2021. CEO McKeel Hagerty emphasized the company's commitment to preserving car culture and enhancing the experience for automotive enthusiasts. With 2 million cars insured globally and an impressive 84 Net Promoter Score, Hagerty aims to leverage its unique business model and substantial member base to drive future growth and shareholder value. Their strategy includes enhancing digital experiences and expanding car-focused services.
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