Hagerty swings to $15mn Q1 net loss as LR remains flat at 41%
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Hagerty swings to $15mn Q1 net loss as LR remains flat at 41%

Kyoung-son Song
May 09, 2023
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Hagerty logo Traverse City Michigan.jpg

Classic car MGA Hagerty swung to a $15mn net loss in the first quarter of 2023, as the underwriter’s loss ratio remained largely unchanged at 41.3%.

The company’s loss ratio stood flat despite challenging trends in the auto market, which is seeing higher frequency and severity as inflation picks up.

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Kyoung-son Song
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