[Executive Summary and Business Outlook](index=1&type=section&id=Executive%20Summary%20and%20Business%20Outlook) This section provides an overview of the company's strong financial performance in the first half of 2025, including CEO commentary, detailed Q2 and YTD financial highlights, and an increased full-year 2025 outlook [CEO Commentary](index=1&type=section&id=CEO%20Commentary) McKeel Hagerty, CEO, highlighted solid first-half 2025 results with significant revenue, net income, and Adjusted EBITDA growth, alongside margin expansion and strategic investments. He also noted an increased 2025 outlook and the planned evolution of the Markel partnership for 2026 - Hagerty delivered solid results in the first half of 2025 with **revenue growth of 18%**, **net income gains of 46%**, and **Adjusted EBITDA gains of 28%**[3](index=3&type=chunk) - Strategic investments include rolling out State Farm Classic+, launching the Enthusiast+ product, building the European Marketplace team, and investing in technology for future margin expansion[3](index=3&type=chunk) - The company increased its 2025 revenue growth outlook to **13-14%** and net income growth to **43-53%**[4](index=4&type=chunk) - A non-binding LOI was announced for a new fronting arrangement with Markel, aiming for Hagerty to control **100% of the premium** as of January 1, 2026[4](index=4&type=chunk)[5](index=5&type=chunk) [Second Quarter and YTD 2025 Financial Highlights](index=1&type=section&id=SECOND%20QUARTER%20AND%20YTD%202025%20FINANCIAL%20HIGHLIGHTS) Hagerty reported strong financial and operational performance for Q2 and YTD 2025, with significant year-over-year growth across total revenue, written premium, and particularly in marketplace revenue. Profitability metrics like operating income, net income, and Adjusted EBITDA also saw substantial increases, while key operational metrics like policies in force retention remained stable and total insured vehicles grew Q2 2025 Financial Highlights (in millions) | Metric | Value (Q2 2025) | YoY Change | | :-------------------------------- | :-------------- | :--------- | | Total Revenue | $368.7 million | +18% | | Written Premium | $356.0 million | +11% | | Marketplace Revenue | $26.8 million | +327% | | Operating Income | $47.7 million | +25% | | Net Income | $47.2 million | +11% | | Adjusted EBITDA | $63.7 million | +20% | | Basic & Diluted EPS | $0.09 | 0% | YTD 2025 Financial Highlights (in millions) | Metric | Value (YTD 2025) | YoY Change | | :-------------------------------- | :-------------- | :--------- | | Total Revenue | $688.3 million | +18% | | Written Premium | $600.3 million | +11% | | Marketplace Revenue | $55.8 million | +232% | | Operating Income | $73.4 million | +46% | | Net Income | $74.5 million | +46% | | Adjusted EBITDA | $103.4 million | +28% | | Basic & Diluted EPS | $0.16 | 166.7% | - Policies in Force Retention was **88.7%** as of June 30, 2025, consistent with the prior year period, while total insured vehicles increased **6%** year-over-year to **2.7 million**[6](index=6&type=chunk) - Hagerty Drivers Club (HDC) paid members increased **6%** year-over-year to approximately **908,000**[6](index=6&type=chunk) - The Loss Ratio for Q2 2025 was **42.3%** (including **1.6%** from catastrophe losses), up from **41.1%** in the prior year period. YTD 2025 Loss Ratio was **42.2%** (including **4.1%** from catastrophe losses), also up from **41.1%**[6](index=6&type=chunk) - The company ended the quarter with **$140.3 million** of unrestricted cash and **$176.1 million** of total debt[9](index=9&type=chunk) [2025 Outlook - Sustained Revenue Growth and Margin Expansion](index=4&type=section&id=2025%20OUTLOOK%20-%20SUSTAINED%20REVENUE%20GROWTH%20AND%20MARGIN%20EXPANSION) Hagerty has increased its full-year 2025 outlook for revenue and profit growth, anticipating continued strong performance. The revised outlook incorporates $20 million in elevated technology investments and a $10 million pre-tax impact from Southern California wildfires Revised Full Year 2025 Outlook (in thousands) | Metric | Prior 2025 Outlook (Low-High) | Revised 2025 Outlook (Low-High) | | :---------------- | :------------------------------ | :------------------------------ | | Total Written Premium | $1,180,000 - $1,191,000 | $1,180,000 - $1,191,000 | | Total Revenue | $1,344,000 - $1,356,000 | $1,356,000 - $1,368,000 | | Net Income | $102,000 - $110,000 | $112,000 - $120,000 | | Adjusted EBITDA | $150,000 - $160,000 | $162,000 - $172,000 | - For full year 2025, Hagerty anticipates Written Premium growth of **13-14%**, Total Revenue growth of **13-14%**, Net Income growth of **43-53%**, and Adjusted EBITDA growth of **30-38%**[13](index=13&type=chunk) - Profit ranges for 2025 incorporate **$20 million** of elevated technology investments, primarily in the new Duck Creek platform, and approximately **$10 million** pre-tax impact from the Southern California wildfires[10](index=10&type=chunk)[12](index=12&type=chunk) [Condensed Consolidated Financial Statements](index=6&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents the unaudited condensed consolidated statements of operations, balance sheets, and cash flows, detailing the company's financial position and performance for Q2 and YTD 2025 [Condensed Consolidated Statements of Operations (Unaudited)](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20(Unaudited)) The condensed consolidated statements of operations show strong revenue growth for both the three and six months ended June 30, 2025, driven by increases across all revenue streams, particularly membership, marketplace, and other revenue. Operating income and net income also saw significant year-over-year improvements Three Months Ended June 30 (in thousands) | Metric | 2025 | 2024 | $ Change | % Change | | :-------------------------------- | :------- | :------- | :------- | :------- | | Commission and fee revenue | $143,287 | $128,816 | $14,471 | 11.2 % | | Earned premium | $177,785 | $157,612 | $20,173 | 12.8 % | | Membership, marketplace and other revenue | $47,627 | $26,797 | $20,830 | 77.7 % | | **Total revenue** | **$368,699** | **$313,225** | **$55,474** | **17.7 %** | | Total operating expenses | $321,000 | $275,158 | $45,842 | 16.7 % | | **OPERATING INCOME** | **$47,699** | **$38,067** | **$9,632** | **25.3 %** | | **NET INCOME** | **$47,202** | **$42,657** | **$4,545** | **10.7 %** | | Basic Earnings Per Share | $0.09 | $0.09 | $0 | 0 % | Six Months Ended June 30 (in thousands) | Metric | 2025 | 2024 | $ Change | % Change | | :-------------------------------- | :------- | :------- | :------- | :------- | | Commission and fee revenue | $243,574 | $217,656 | $25,918 | 11.9 % | | Earned premium | $347,140 | $309,231 | $37,909 | 12.3 % | | Membership, marketplace and other revenue | $97,578 | $58,046 | $39,532 | 68.1 % | | **Total revenue** | **$688,292** | **$584,933** | **$103,359** | **17.7 %** | | Total operating expenses | $614,865 | $534,642 | $80,223 | 15.0 % | | **OPERATING INCOME** | **$73,427** | **$50,291** | **$23,136** | **46.0 %** | | **NET INCOME** | **$74,495** | **$50,856** | **$23,639** | **46.5 %** | | Basic Earnings Per Share | $0.16 | $0.06 | $0.10 | 166.7 % | [Condensed Consolidated Balance Sheets (Unaudited)](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20(Unaudited)) The balance sheet as of June 30, 2025, shows an increase in total assets, primarily driven by higher cash and cash equivalents, restricted cash, investments, and various receivables. Total liabilities also increased, notably in accounts payable, advance premiums, and unearned premiums, while total equity grew Balance Sheet Highlights (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :-------------- | :---------------- | | Cash and cash equivalents | $140,300 | $104,784 | | Restricted cash and cash equivalents | $190,286 | $128,061 | | Investments | $119,326 | $73,957 | | Premiums receivable | $249,830 | $153,748 | | **Total current assets** | **$1,212,984** | **$858,405** | | **TOTAL ASSETS** | **$2,040,575** | **$1,709,338** | | Accounts payable, accrued expenses and other current liabilities | $138,349 | $73,383 | | Advance premiums and due to insurers | $188,403 | $108,352 | | Unearned premiums | $410,496 | $357,539 | | **Total current liabilities** | **$1,145,980** | **$915,446** | | Long-term debt, net | $153,383 | $104,968 | | **TOTAL LIABILITIES** | **$1,379,724** | **$1,101,169** | | Total equity | $578,038 | $523,506 | [Condensed Consolidated Statements of Cash Flows (Unaudited)](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20(Unaudited)) For the six months ended June 30, 2025, net cash provided by operating activities decreased compared to the prior year, while net cash used in investing activities significantly reduced. Net cash provided by financing activities turned positive, primarily due to higher proceeds from long-term debt Six Months Ended June 30 (in thousands) | Metric | 2025 | 2024 | | :-------------------------------- | :------- | :------- | | Net Cash Provided by Operating Activities | $97,714 | $122,255 | | Net Cash Used in Investing Activities | $(31,839) | $(479,937) | | Net Cash Provided by (Used in) Financing Activities | $29,480 | $(50,783) | | Change in cash and cash equivalents and restricted cash and cash equivalents | $97,741 | $(408,754) | | Ending cash and cash equivalents and restricted cash and cash equivalents | $330,586 | $315,522 | - Net cash provided by operating activities decreased primarily due to changes in accounts, premiums, and commissions receivable, partially offset by increases in advance premiums and unearned premiums[28](index=28&type=chunk) - Net cash used in investing activities significantly reduced from **$(479,937) thousand** in 2024 to **$(31,839) thousand** in 2025, mainly due to lower purchases of fixed maturity securities and higher proceeds from sales and maturities[28](index=28&type=chunk) - Net cash provided by financing activities turned positive, driven by a substantial increase in proceeds from long-term debt (**$192,339 thousand** in 2025 vs. **$25,482 thousand** in 2024)[28](index=28&type=chunk) [Key Performance Indicators and Non-GAAP Financial Measures](index=10&type=section&id=Key%20Performance%20Indicators%20and%20Certain%20Non-GAAP%20Financial%20Measures) This section outlines key operational and financial performance indicators, including detailed reconciliations for non-GAAP measures like Adjusted EBITDA and Adjusted EPS, providing insights into core business performance [Key Performance Indicators](index=10&type=section&id=Key%20Performance%20Indicators) Hagerty's Key Performance Indicators for Q2 and YTD 2025 demonstrate strong growth in Total Written Premium and Total Revenue, alongside improved profitability metrics like Operating Income, Net Income, and Adjusted EBITDA. Operational metrics show stable retention and growth in insured vehicles and paid members, despite a slight decrease in new business count Q2 2025 Key Performance Indicators (in thousands, except percentages) | Metric | 2025 | 2024 | Change | % Change | | :-------------------------- | :------- | :------- | :------- | :------- | | Total Written Premium | $355,985 | $321,173 | $34,812 | 10.8 % | | Hagerty Re Loss Ratio | 42.3 % | 41.1 % | 1.2 % | N/M | | Hagerty Re Combined Ratio | 89.6 % | 88.1 % | 1.5 % | N/M | | New Business Count — Insurance | 87,872 | 89,049 | (1,177) | (1.3)% | | Total Revenue | $368,699 | $313,225 | $55,474 | 17.7 % | | Operating Income | $47,699 | $38,067 | $9,632 | 25.3 % | | Net Income | $47,202 | $42,657 | $4,545 | 10.7 % | | Adjusted EBITDA | $63,744 | $53,113 | $10,631 | 20.0 % | YTD 2025 Key Performance Indicators (in thousands, except percentages) | Metric | 2025 | 2024 | Change | % Change | | :-------------------------- | :------- | :------- | :------- | :------- | | Total Written Premium | $600,312 | $539,459 | $60,853 | 11.3 % | | Hagerty Re Loss Ratio | 42.2 % | 41.1 % | 1.1 % | N/M | | Hagerty Re Combined Ratio | 89.1 % | 88.3 % | 0.8 % | N/M | | New Business Count — Insurance | 143,181 | 148,335 | (5,154) | (3.5)% | | Total Revenue | $688,292 | $584,933 | $103,359 | 17.7 % | | Operating Income | $73,427 | $50,291 | $23,136 | 46.0 % | | Net Income | $74,495 | $50,856 | $23,639 | 46.5 % | | Adjusted EBITDA | $103,352 | $80,440 | $22,912 | 28.5 % | Operational Metrics (as of June 30, 2025, except percentages) | Metric | 2025 | 2024 | Change | % Change | | :-------------------------- | :---------- | :---------- | :------- | :------- | | Policies in Force | 1,559,798 | 1,506,451 | 53,347 | 3.5 % | | Policies in Force Retention | 88.7 % | 89.0 % | (0.3)% | N/M | | Vehicles in Force | 2,664,611 | 2,576,700 | 87,911 | 3.4 % | | HDC Paid Member Count | 907,963 | 875,822 | 32,141 | 3.7 % | | Net Promoter Score (NPS) | 82 | 82 | — | 0 % | [Adjusted EBITDA](index=11&type=section&id=Adjusted%20EBITDA) Adjusted EBITDA is a non-GAAP financial measure used by Hagerty to assess core operating performance by excluding non-operating and non-cash items. For Q2 and YTD 2025, Adjusted EBITDA increased by 20% and 28.5% respectively, and the company projects a 30-38% growth for the full year 2025 - Adjusted EBITDA is defined as consolidated Net income, excluding net interest and other income (expense), income tax expense, and depreciation and amortization, further adjusted for warrant liabilities, share-based compensation, restructuring, divestiture-related items, and certain other unusual items[32](index=32&type=chunk) Adjusted EBITDA Reconciliation (in thousands) | Metric | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :-------------------------- | :------- | :------- | :------- | :------- | | Net income | $47,202 | $42,657 | $74,495 | $50,856 | | EBITDA | $56,532 | $46,140 | $91,748 | $62,784 | | Adjusted EBITDA | $63,744 | $53,113 | $103,352 | $80,440 | 2025 Outlook Adjusted EBITDA Reconciliation (in thousands) | Metric | 2025 Low | 2025 High | | :-------------------------- | :------- | :-------- | | Net income | $112,000 | $120,000 | | Adjusted EBITDA | $162,000 | $172,000 | [Adjusted EPS](index=12&type=section&id=Adjusted%20EPS) Adjusted EPS is a non-GAAP measure that provides insight into Hagerty's operating performance on a fully consolidated and diluted basis. For Q2 2025, Adjusted EPS was $0.13, and for YTD 2025, it was $0.21, showing an increase from the prior year periods - Adjusted EPS is defined as consolidated Net income, excluding net gains and losses related to warrant liabilities prior to the Warrant Exchange, divided by outstanding and total potentially dilutive securities[37](index=37&type=chunk) Adjusted EPS Reconciliation (in thousands, except per share amounts) | Metric | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :-------------------------- | :------- | :------- | :------- | :------- | | Consolidated net income | $47,202 | $42,657 | $74,495 | $50,856 | | Adjusted consolidated net income | $47,202 | $44,598 | $74,495 | $58,937 | | Basic EPS | $0.09 | $0.09 | $0.16 | $0.06 | | Adjusted EPS | $0.13 | $0.12 | $0.21 | $0.16 | [Corporate Information and Disclosures](index=5&type=section&id=Corporate%20Information%20and%20Disclosures) This section provides essential corporate information, including conference call details, forward-looking statements, and an overview of Hagerty, Inc.'s mission and business activities [Conference Call Details](index=5&type=section&id=Conference%20Call%20Details) Hagerty scheduled a conference call for August 4, 2025, at 10:00 am ET to discuss the second quarter 2025 financial results, with webcast and dial-in options available - A conference call to discuss financial results was scheduled for **August 4, 2025, at 10:00 am Eastern Time**[14](index=14&type=chunk) - A webcast of the conference call and Investor Presentation is available on Hagerty's investor relations website at **investor.hagerty.com**[14](index=14&type=chunk)[15](index=15&type=chunk) - Dial-in numbers for the conference call are **(877) 423-9813** (toll-free) or **(201) 689-8573** (international)[14](index=14&type=chunk) [Forward-Looking Statements](index=5&type=section&id=Forward-Looking%20Statements) This section contains a standard disclaimer that the press release includes forward-looking statements about Hagerty's future performance, strategy, and market conditions. It warns that actual results could differ materially due to various risks, including competition, strategic partnerships, technology issues, market adoption, the Markel arrangement, and regulatory compliance - The press release contains forward-looking statements regarding Hagerty's future operating results, financial position, business strategy, plans, products, services, technology implementations, market conditions, growth, trends, expansion plans, opportunities, and objectives[16](index=16&type=chunk) - Actual results could differ materially due to factors such as competition, ability to attract and retain policyholders, maintaining strategic relationships, preventing fraud, managing technology risks, accelerating product adoption, successfully implementing the Markel fronting arrangement, managing insurance business cyclicality, addressing claims, and complying with regulations[17](index=17&type=chunk) [About Hagerty, Inc.](index=5&type=section&id=About%20Hagerty,%20Inc.) Hagerty, Inc. is an automotive enthusiast brand dedicated to preserving car culture, serving as a leading provider of specialty vehicle insurance, valuation data, auction services, events, and entertainment. It operates globally and fosters a community through its Hagerty Drivers Club - Hagerty is an automotive enthusiast brand committed to saving driving and fueling car culture for future generations[19](index=19&type=chunk) - 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[19](index=19&type=chunk) - Hagerty operates in Canada and the U.K. and is home to Hagerty Drivers Club, a community of over **900,000 members**[19](index=19&type=chunk)

Core Insights - Hagerty, Inc. reported strong financial results for the first half of 2025, with revenue growth of 18%, net income growth of 46%, and Adjusted EBITDA growth of 28% [2][5][19] - The company has increased its 2025 revenue growth outlook to 13-14% and expects net income growth of 43-53% [3][5] Financial Performance - Total revenue for Q2 2025 increased 18% year-over-year to $368.7 million, with year-to-date revenue also up 18% to $688.3 million [5][6] - Written premium for Q2 2025 rose 11% year-over-year to $356.0 million, with year-to-date written premium increasing 11% to $600.3 million [5][6] - Marketplace revenue surged 327% year-over-year to $26.8 million in Q2 2025, and year-to-date marketplace revenue increased 232% to $55.8 million [5][6] - Operating income for Q2 2025 increased 25% year-over-year to $47.7 million, with year-to-date operating income up 46% to $73.4 million [5][6] - Net income for Q2 2025 rose 11% year-over-year to $47.2 million, while year-to-date net income increased 46% to $74.5 million [5][6] Key Metrics - The company maintained a Policies in Force Retention rate of 88.7% as of June 30, 2025, with total insured vehicles increasing 6% year-over-year to 2.7 million [6][24] - The Loss Ratio for Q2 2025 was 42.3%, compared to 41.1% in the prior year period [6][24] - Membership, marketplace, and other revenue increased 78% year-over-year to $47.6 million in Q2 2025 [6][24] Outlook - Hagerty anticipates continued revenue growth and margin expansion in 2025, with planned investments of $20 million primarily in technology [8][16] - The company is positioned for sustained profit growth through its focus on insurance, membership, and marketplace businesses [8][16]

McKendry is responsible for driving continuous and transformational improvement for Hagerty's insurance products. This includes product development and implementation, pricing, underwriting, reserving, and reinsurance. His focus will be on expanding and evolving Hagerty's offerings through data and customer driven insights. McKendry brings to his role at Hagerty more than two decades of experience from GEICO, Lemonade, Metromile, and Progressive. "Adam and Jesse are accomplished leaders with impressive trac ...

Core Viewpoint - Hagerty, Inc. (HGTY) is anticipated to report a year-over-year increase in earnings and revenues for the quarter ended June 2025, with the actual results having a significant impact on the stock price [1][2]. Earnings Expectations - The consensus estimate for Hagerty's quarterly earnings is $0.13 per share, reflecting an 8.3% increase year-over-year, while revenues are expected to reach $354.53 million, up 13.2% from the previous year [3]. - The consensus EPS estimate has been revised 6.45% higher in the last 30 days, indicating a positive reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows a positive Earnings ESP of +42.10% for Hagerty, suggesting analysts are optimistic about the company's earnings prospects [12]. - The stock holds a Zacks Rank of 1, indicating a strong likelihood of beating the consensus EPS estimate [12]. Historical Performance - In the last reported quarter, Hagerty exceeded the expected earnings of $0.02 per share by delivering $0.08, resulting in a surprise of +300.00% [13]. - Over the past four quarters, the company has beaten consensus EPS estimates three times [14]. Conclusion - Hagerty is positioned as a compelling candidate for an earnings beat, but investors should consider additional factors beyond earnings expectations when making investment decisions [17].

Core Insights - The Amelia has announced Dario Franchitti MBE as the honoree for the 2026 event, recognizing his significant contributions to motorsport and car culture [1][2][4] Event Details - The Amelia will take place from March 5-8, 2026, featuring a variety of activities including an evening event called Reverie, a two-day auction by Hagerty's Broad Arrow Auctions, and a concours showcasing 250 vehicles across 30 classes [2][5][8] - The event will also include the return of RADwood, celebrating the automotive lifestyle of the '80s and '90s, and an expanded Cars & Community event on Sunday [2][5] Auction Highlights - In 2025, Broad Arrow Auctions achieved $61.7 million in total sales with 88% of lots sold, including a notable sale of a 1959 Ferrari 250 GT LWB California Spider Competizione for $9.5 million [4][8] - The 2026 auction is expected to feature over 150 collector cars, building on the success of previous years [4][8] Honoree Background - Dario Franchitti is a four-time IndyCar Series Champion and three-time Indianapolis 500 winner, with a total of 31 career IndyCar victories and 89 podium finishes [6] - He is also recognized as a passionate collector and preservationist, and has been inducted into multiple motorsport halls of fame [6] Organizational Overview - The Amelia is a prestigious motoring event that blends motorsport heritage with contemporary car culture, having donated over $4 million to charitable organizations since its inception in 1996 [8] - Hagerty, the company behind The Amelia, is a leading provider of specialty vehicle insurance and automotive lifestyle services, catering to a community of nearly 890,000 car enthusiasts [9]

Core Viewpoint - Hagerty, Inc. (HGTY) is positioned as a strong investment opportunity due to significant upward revisions in earnings estimates, indicating a positive earnings outlook that may continue to drive stock price growth [1][2]. Earnings Estimate Revisions - Analysts have shown growing optimism regarding Hagerty's earnings prospects, reflected in the upward trend of earnings estimate revisions, which historically correlate with stock price movements [2]. - The current-quarter earnings estimate is $0.13 per share, representing an 8.3% increase from the previous year, with a 6.45% rise in the Zacks Consensus Estimate over the last 30 days, indicating no negative revisions [7]. - For the full year, the expected earnings are $0.35 per share, marking a 45.8% increase from the prior year, with a similar trend of one upward revision and no negative changes in estimates [8]. Zacks Rank and Performance - The positive revisions have led to Hagerty earning a Zacks Rank 1 (Strong Buy), which is associated with a strong historical performance, averaging a 25% annual return since 2008 for Zacks 1 ranked stocks [3][9]. - Stocks with Zacks Rank 1 and 2 are shown to significantly outperform the S&P 500, reinforcing the potential for Hagerty's stock to deliver strong returns [9]. Market Reaction - The stock has gained 5.6% over the past four weeks, driven by favorable estimate revisions, suggesting that investors are increasingly confident in Hagerty's earnings growth prospects [10].

Core Insights - Broad Arrow Auctions, a Hagerty company, is set to host its flagship Monterey Jet Center Auction on August 13-14, 2025, featuring a highly desirable 2005 Maserati MC12 Stradale, estimated between $4.8 million and $5.5 million [1][2][3] Auction Highlights - The auction will present 170 lots, showcasing a variety of collector cars across active market segments, including modern supercars, post-war classics, and rising JDM icons [4][5] - Notable supercar entries include the 2008 Koenigsegg CCXR (Estimate: $2.75 million - $3.5 million), 2018 Bugatti Chiron (Estimate: $3 million - $3.5 million), and 1991 Ferrari F40 (Estimate: $3.35 million - $3.5 million) [6][8] - The auction will also feature significant track-focused vehicles, such as the 1959 Porsche 718 RSK Spyder (Estimate: $3.5 million - $4 million) [10] Market Trends - The current collector car market is seeing younger buyers who prioritize performance and usability, seeking rare and high-quality vehicles [5] - The Japanese Domestic Market (JDM) segment is gaining traction, with a rare 1999 Nissan Skyline CRS GT-R V-Spec by NISMO leading the offerings (Estimate: $700,000 - $850,000) [13] - The post-war classic car segment remains a staple, highlighted by a 1967 Ferrari 275 GTB/4 (Estimate: $2.5 million - $3 million) [14] Company Background - Broad Arrow Auctions is recognized as a leading global collector car auction house, having rapidly expanded its presence since its founding in 2021 [18] - The company is known for its high-quality offerings and has established flagship events, including the Monterey Jet Center Auction and others in collaboration with prestigious automotive events [18]

Core Insights - Broad Arrow Auctions, a Hagerty company, is set to host its flagship Monterey Jet Center Auction on August 13-14, 2025, featuring a landmark 2005 Maserati MC12 Stradale with an estimated value of $4.8 million to $5.5 million [1][2] Auction Highlights - The auction will present 170 lots, showcasing a variety of highly desirable collector cars, including modern supercars, post-war classics, and JDM icons [4][5] - The Maserati MC12 Stradale is noted for its rarity, with only 50 units produced, and is based on the Ferrari Enzo, featuring a competition-purpose body and a powerful 6.0-liter V12 engine [2][3] Supercar Segment - Additional supercar highlights include: - 2008 Koenigsegg CCXR (Estimate: $2.75 million - $3.5 million) - 2018 Bugatti Chiron (Estimate: $3 million - $3.5 million) - 1991 Ferrari F40 (Estimate: $3.35 million - $3.5 million) - 1968 Lamborghini Miura P400 (Estimate: $2 million - $2.4 million) [6] Track Stars - The auction features notable racing cars, including a 1959 Porsche 718 RSK Spyder (Estimate: $3.5 million - $4 million), which has a rich racing history and is eligible for prestigious vintage racing events [7] JDM Icons - The auction highlights the growing market for Japanese Domestic Market collector cars, featuring a rare 1999 Nissan Skyline CRS GT-R V-Spec by NISMO (Estimate: $700,000 - $850,000) [8] Post-War Classics - Key post-war classic offerings include: - 1967 Ferrari 275 GTB/4 (Estimate: $2.5 million - $3 million) - 1965 Ferrari 275 GTB (Estimate: $2.5 million - $2.8 million) - 2009 Mercedes-Benz SLR McLaren Prototype "Stealth" (Estimate: $1 million - $1.25 million) [9][10] Event Details - The auction will take place at The Monterey Jet Center in California, coinciding with Motorlux, attracting thousands of collectors and enthusiasts [14]

Core Viewpoint - Hagerty, Inc. has entered into a non-binding letter of intent with Markel to assume 100% of the underwriting and investment economics, with an initial fronting fee of 2% to Markel, decreasing based on policy volume starting January 1, 2026 [1][2] Company Overview - Hagerty, Inc. is a leading specialty vehicle insurance provider and automotive enthusiast brand, committed to preserving driving culture for future generations [4] - The company serves approximately 67 million Americans who identify as car enthusiasts and operates in Canada and the U.K. [4] - Hagerty has a community of nearly 890,000 members in the Hagerty Drivers Club [4] Proposed Arrangement Details - The new fronting arrangement allows Hagerty to control 100% of the premium from its high-quality underwriting, enhancing profitability and operational control without disrupting policyholders [2] - The arrangement is subject to regulatory approval and the negotiation of definitive documentation [6]

AUGUST 13-14 AUCTION TO FEATURE EXTREMELY RARE ASTON MARTIN DB4 GT ZAGATO CONTINUATION AND DBS GT ZAGATO | JUST 19 PAIRINGS WERE BUILT AND SOLD TOGETHER IN 2019 | THE CARS CELEBRATE OVER SIXTY YEARS OF COLLABORATION BETWEEN ASTON MARTIN AND ZAGATO The extremely rare Aston Martin DBZ Centenary Collection pairing to be offered at Broad Arrow’s Monterey Jet Center Auction on August 13-14, 2025 Credit - Ryan Merrill / Courtesy of Broad Arrow Auctions DB4 GT Zagato Continuation to be offered from the DBZ Cen ...