Hagerty Agrees to Acquire Bennetts to Become #2 Specialty Motorcycle Insurance Broker in the United Kingdom

Hagerty, Inc. (NYSE: HGTY), a business that makes it easier and more enjoyable to be a driving enthusiast through insurance, buying and selling platforms, publishing and events, today announced that it has entered into a definitive agreement to acquire Bennetts, the United Kingdom's #2 specialty motorcycle insurance broker, from Lucida Group for £34 million ($43 million USD). The transaction is expected to be immediately accretive, and close during the third quarter of 2026, subject to regulatory approval. The acquisition increases Hagerty's international scale, augmenting the ongoing investment into Hagerty's Broad Arrow business outside of the United States.

Founded more than 90 years ago, Bennetts brings 15% UK motorcycle insurance market share and a 65 Net Promoter Score through a member-centric approach similar to Hagerty's model in the enthusiast car space. "Bennetts is a brand built the same way Hagerty was built – by genuine enthusiasts, for genuine enthusiasts," said McKeel Hagerty, Chief Executive Officer and Chairman of Hagerty. "Their 100,000 community members from Bennetts' 'Bike Social' platform, decades of trust in the UK motorcycle market and disciplined, low-frequency book make this a natural extension of everything we stand for as we look to seed our international growth in a deliberate way." Mark Roper, Hagerty's UK Managing Director added, "We are excited to welcome the Bennetts team into the Hagerty family. Bennetts has built something special — a brand riders trust, a community they love and a business with momentum. Our commitment is simple: keep what makes Bennetts great, and bring the best of Hagerty alongside it, building something stronger than either of us could on our own." Tripling Hagerty's UK Footprint The acquisition is also expected to triple Hagerty's UK re...