| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 80.83 | 32.3% | 57.1% |
| Total Income | 80.83 | 32.3% | 57.1% |
| Expenditure | 78.59 | 4.2% | 44.2% |
| PBT | 2.23 | 110.7% | 95.8% |
| Net Profit | 8.04 | 163.1% | 83.0% |
| OPM | — | ||
| NPM | 9.95% | 30.81pp | 15.10pp |
| EPS | — |
Hagerty Reports Q2 2026 Results and Increases 2026 Growth Outlook
05 Aug 2026 · 5 Aug, 4:36 pm
Summary
Hagerty, Inc. reported strong underlying operational performance for the first half of 2026, with Written Premium growing 19% year-over-year to $713 million and a record 279,000 new members added. Earned Premium saw a significant 42% increase to $492 million, largely due to the transition to the Markel Fronting Arrangement. Adjusted EBITDA grew 32% to $160 million, demonstrating the compounding power of the company's model. Despite a 6% decrease in reported Total Revenue to $355 million for the second quarter due to accounting changes, the company has raised its full-year 2026 outlook, now expecting Written Premium growth of 16-17% and Adjusted EBITDA between $270 and $280 million.
Key Highlights
- 1
First half 2026 Written Premium grew 19% year-over-year to $713 million, reflecting strong underlying operational performance.
- 2
The company added a record 279,000 new members in the first half of 2026, resulting in policy in force growth of 19% year-over-year to 1.9 million members.
- 3
First half 2026 Earned Premium increased 42% to $492 million, driven by the transition to the Markel Fronting Arrangement.
- 4
Adjusted EBITDA (a non-GAAP measure) increased 32% to $160 million for the first half of 2026, compared to $121 million in the prior year period.
- 5
Second quarter 2026 Total Revenue decreased 6% year-over-year to $355 million, reflecting the accounting impact of the Markel Fronting Arrangement transition.
- 6
Hagerty has increased its 2026 outlook, projecting Written Premium growth of 16% to 17% and Adjusted EBITDA of $270 to $280 million.
Management Comments
McKeel Hagerty
The first half of 2026 has been the best in Hagerty's history, and our results give us the confidence to significantly increase our full year outlook. We delivered year-to-date written premium growth of 19% and Adjusted EBITDA gains of 32%, reflecting the compounding power of our model as we now control 100% of the economics on our U.S. book. This is what forty years of building trust — one member, one partner, one car at a time — looks like when the flywheel hits its stride. Our momentum is showing up across every part of the Hagerty ecosystem, including crossing three million insured vehicles. Broad Arrow delivered first half revenue growth of 17%, with a 91% auction sell-through rate and demand from buyers on multiple continents. And in the third quarter, we will welcome the team and members of Bennetts, the United Kingdom's second largest specialty motorcycle insurance broker to the Hagerty family, tripling our scale in that market.
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