Specialty insurer Hagerty lifts guidance following 42% jump in Q2 earned premiums to $252 million and record policy growth.
Hagerty reported stronger-than-expected second-quarter results, driven by a 42% increase in earned premiums to $252 million and a 19% rise in written premiums. The company now expects higher full-year performance, citing record policy growth and 279,000 new members added in the first half of 2026.
Policy growth accelerated from 14% a year earlier, supported by State Farm conversions and a new Markel fronting arrangement. The shift to 100% underwriting risk boosted underwriting profits by 25% but reduced GAAP revenue by 6% in the first half.
Shares gained as investors reacted to the improved outlook and expanding membership base, which surpassed 3 million insured vehicles in Q2.