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]