Hagerty Raises Full-Year Guidance Following Strong Q3 Earnings and Member Growth
Hagerty (HGTY) raised its full-year earnings guidance following a strong third quarter, reporting $257 million in adjusted EBITDA for the first nine months of 2026. The specialty insurer saw significant growth by adding 402,000 new members and benefiting from a demographic shift where Gen X, Millennials, and Gen Z now account for over 60% of new insurance quotes. The company's operational efficiency improved through internal claims expansion and workflow automation, resulting in lower loss rates. Additionally, Hagerty is leveraging high-margin distribution partnerships, including a significant rollout with State Farm, to drive low-cost policy growth across its expanding member base.
Tickers: $HGTY
Topics: demographic shifts earnings report EBITDA growth guidance raise insurance industry