Hagerty Announces LOI for New Fronting Arrangement with Markel; Hagerty Re to Assume 100% of the Premium

Hagerty Announces LOI for New Fronting Arrangement with Markel; Hagerty Re to Assume 100% of the Premium

TRAVERSE CITY, Mich., July 24, 2025 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), an automotive enthusiast brand and a leading specialty vehicle insurance provider, today announced that the company has entered into a non-binding letter of intent with Markel. Upon effectiveness…

Hagerty announces new fronting arrangement with Markel

Hagerty, a specialty automotive insurer, has entered into a non-binding letter of intent (LOI) for a new fronting arrangement with Markel, marking a significant evolution in its successful partnership. Hagerty provides specialty vehicle insurance, expert car valuation data and insights, live and digital car auction services, immersive events, and automotive entertainment. Under the current model, Hagerty earns 42% total commissions as an MGA and…