Hagerty, Inc. (NYSE: HGTY) has signed a definitive agreement to acquire Bennetts, a transaction that would install the Traverse City, Michigan-based driving-enthusiast company as the second-largest specialty motorcycle insurance broker in the United Kingdom. The deal marks a significant geographic expansion for Hagerty, which has built its business around insurance, buying and selling platforms, publishing, and events for vehicle enthusiasts.
Deal Mechanics and Market Position
The acquisition of Bennetts gives Hagerty an immediate ranked position in the UK specialty motorcycle insurance segment — second place among specialist brokers in that market. The source does not disclose a transaction price, closing timeline, or Bennetts' current premium volume, so no financial terms can be reported at this stage.
Hagerty framed the move as consistent with its broader mission of making it "easier and more enjoyable to be a driving enthusiast." Motorcycles represent a natural adjacency to the collector-car and enthusiast-vehicle insurance lines that anchor Hagerty's existing book.
Hagerty's Business Mix
Hagerty operates across four principal verticals: insurance underwriting and brokerage, vehicle buying and selling platforms, enthusiast publishing, and live events. The company trades on the New York Stock Exchange under the ticker HGTY and is headquartered in Traverse City, Michigan.
Adding a dedicated UK motorcycle broker expands both the insurance and community dimensions of that model into a new geography and a distinct vehicle class. Motorcycle insurance in the UK is a specialist segment with its own underwriting characteristics — seasonality, displacement-based risk tiering, and a significant classic and vintage sub-segment — making Bennetts a category-specific rather than a generalist acquisition.
Strategic Signal
The Bennetts transaction is the clearest signal yet that Hagerty is building toward a multi-market, multi-vehicle-class platform rather than remaining a single-country, car-focused insurer. Reaching the No. 2 broker rank in the UK motorcycle segment on entry — through acquisition rather than organic growth — compresses what would otherwise be years of distribution and brand-building in an unfamiliar regulatory environment.