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Mar 31, 2024
Hagerty Q1 2024 Earnings Report
Hagerty's business momentum from 2023 carried into 2024, with first quarter total revenue growth reported at 24%.
Key Takeaways
Hagerty reported a 24% increase in total revenue for the first quarter, driven by growth in new policies rather than rate increases. The company's focus on car culture and community building, through events and the Hagerty Drivers Club, contributes to high customer satisfaction and retention.
Hagerty experienced a 24% total revenue growth in Q1 2024.
Growth is primarily driven by new policies, highlighting the strength of the Hagerty brand.
Hagerty Drivers Club has over 830,000 members, with 190,000 new members added in the last year.
Hagerty underwrites 2.4 million collectible vehicles, representing approximately 5% of the total addressable market.
Revenue by Segment
Historical Earnings Impact
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Avg. Return Before/After Earnings
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