HGTY Hagerty (HGTY) Q2 FY26 earnings call
Hagerty delivered a record-breaking first half of 2026, driven by strong new member acquisition and the benefits of its new Markel fronting arrangement, which significantly boosted earned premium and adjusted EBITDA. Despite GAAP accounting noise related to the transition, the underlying business performance is robust, leading to a significant increase in full-year guidance for written premium, GAAP net income, and adjusted EBITDA. The company continues to expand its market reach through strategic partnerships and a focus on the growing 'Enthusiast Plus' demographic, while maintaining underwri
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HGTY operating KPIs by quarter
| KPI | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Policy retention rate | 89%Written premiums grew 19% due to robust new business count helped by ramping State Farm conversions and our 89% retention.Source: earnings call transcript | 89%PIF growth jumped 15% as our retention rate remained steady at an industry-leading 89%.Source: earnings call transcript | 88%Our high rates of PIF growth and industry-leading retention of 88% powers consistent compounding growth and provides us with excellent visibility into future revenue streams, particularly as we unlock our partnership opportunities by deepening existing relationships and adding new ones.Source: earnings call transcript | -1 pt |
| Combined ratio Hagerty Re | — | 87%Hagerty Re's combined ratio was 87%, and we took down our reserves by $6 million in the first quarter.Source: earnings call transcript | 90%Turning to profitability, shown on slides 7 and 8, Hagerty-Ree's combined ratio came in at 90% in the second quarter, despite inflationary pressures.Source: earnings call transcript | +3 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.