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Hagerty (HGTY) guidance and outlook

Hagerty's 10-Q filed Nov 3, 2026 makes 22 forward-looking statements.

Guidance and outlook

Forward-looking statements, 10-Q filed Nov 3, 2026

• We expect these changes to result in increased profitability and additional control, allowing for enhanced operational efficiencies.
• Although we expect the Markel Fronting Arrangement to result in increased future profitability, throughout 2026, our reported commission revenue and ceding commission expense will be lower than in prior periods, reflecting the new contractual terms governing our relationship with Markel.
• We will account for the acquisition as a business combination and report Bennetts within our Insurance segment.
• This acquisition expands our international insurance distribution and, together with Broad Arrow's growing European presence, is expected to create cross-selling opportunities across our specialty insurance and Marketplace offerings, as well as create community engagement across motorcycle and enthusiast car owners in the U.K.
• During the third quarter of 2026, management approved a plan to sell the primary assets and liabilities of a single Hagerty Garage + Social location.
• In addition, the comparison to the prior year is favorably impacted by a $26.0 million reduction to our estimate of losses and loss adjustment expenses for the current accident year recorded in the third quarter of 2026 to reflect continued favorable trends in auto physical damage losses and better-than expected experience in auto liability losses.
• These increases are largely offset by a $26.0 million reduction to our estimate of losses and loss adjustment expenses for the current accident year to reflect continued favorable trends in auto physical damage losses and better-than expected experience in auto liability losses.
• In the third quarter of 2025, we updated our assessment of forecasted future taxable income.
• We also remeasured the TRA Liability to reflect updated estimates of future payments under the TRA based on forecasted taxable income.
• In the third quarter of 2025, our continued assessment of the realizability of our deferred tax assets concluded that sufficient sources of future taxable income will be generated to realize a portion of the deferred tax assets related to the outside basis in Hagerty, Inc.'s investment in THG and other tax attributes of the Hagerty, Inc. filing entity.
• In assessing the realizability of these deferred tax assets, we considered all sources of positive and negative evidence, including (i) that we achieved cumulative three-year profitability during the quarter; (ii) that our forecasts indicated continued profitability; and (iii) other positive business factors.
• In addition, the comparison to the prior year is favorably impacted by ( i) a $5.7 million reduction in our estimate of ultimate losses for the 2025 accident year, reflecting the continued emergence of lower physical damage losses; and (ii) a $26.0 million reduction to our estimate of losses and loss adjustment expenses for the current accident year to reflect continued favorable trends in auto physical damage…

Hagerty's latest quarter

Questions

What does Hagerty expect?

We expect these changes to result in increased profitability and additional control, allowing for enhanced operational efficiencies. Although we expect the Markel Fronting Arrangement to result in increased future profitability, throughout 2026, our reported commission revenue and ceding commission expense will be lower than in prior periods, reflecting the new contractual terms governing our relationship with Markel. We will account for the acquisition as a business combination and report Bennetts within our Insurance segment.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.