Hagerty increased its full-year 2026 outlook, citing record first-half growth in members, written premium, and earned premium. First-half written premium rose 19% year-over-year to $713 million, while earned premium jumped 42% to $492 million, driven by the January 1 transition to a 100% quota share arrangement with Markel that gives Hagerty full control of the economics on its U.S. book. The company added a record 279,000 new members in the first half, pushing total policies in force up 19% to 1.9 million. Despite a reported net loss of $5 million that included $153 million in pre-tax transitional costs tied to the Markel fronting arrangement, adjusted EBITDA climbed 32% to $160 million, and cash flow from operating activities surged 91% to $186 million. Hagerty now expects full-year written premium growth of 16% to 17%, net income of $18 million to $30 million, and adjusted EBITDA of $270 million to $280 million.
Hagerty IncRaises 2026 outlook after record first-half growth in members and premiums.
Bank of America Corp
Markel CorporationMarkel's fronting arrangement with Hagerty contributes to Hagerty's growth, but Markel is not the focus.
