Mission Statement, Vision, & Core Values of Hagerty, Inc. (HGTY)

You're looking at Hagerty, Inc. (HGTY) and wondering how a company whose mission is to save driving and car culture for future generations translates that passion into real financial performance. Well, the numbers for the 2025 fiscal year tell a clear story: purpose drives profit, with the company raising its full-year outlook to project Total Revenue between $1.368 billion and $1.380 billion and Net Income between $124 million and $129 million. How does a specialty insurer and enthusiast brand manage to deliver a projected Net Income growth of 58-65% while staying true to its core values like People Who Love Cars? We'll break down the foundational principles that are defintely fueling this growth, so you can see the direct line from their stated values to their bottom line.

Hagerty, Inc. (HGTY) Overview

Hagerty, Inc. is not just an insurance company; it is the world's largest provider of specialty insurance for classic vehicles and a comprehensive automotive enthusiast brand. The company's core mission is to save driving and car culture for future generations, which is why their business model wraps insurance, membership, and a marketplace into one ecosystem. You need to understand this blend of financial product and lifestyle brand to grasp their valuation.

The company started small in 1984 when Frank and Louise Hagerty, based in Traverse City, Michigan, could not find adequate insurance for their own wooden boats, so they created their own solution. They expanded into classic car insurance in 1991, which was a smart pivot that defined their future. Today, their offerings include Guaranteed Value® specialty vehicle insurance, the Hagerty Drivers Club (HDC) membership, the Hagerty Marketplace for buying and selling collector vehicles, and the industry-standard Hagerty Valuation Tool. As of the third quarter of 2025, their trailing twelve-month (TTM) revenue stood at approximately $1.36 billion, showing how effectively they've scaled their niche.

• Founded in 1984 for wooden boat insurance.
• Expanded to classic cars in 1991.
• Products span insurance, media, events, and a marketplace.
• TTM revenue is $1.36 billion as of Q3 2025.

Record-Breaking 2025 Financial Performance

The latest financial reports, covering the third quarter of 2025, confirm Hagerty's robust growth trajectory, demonstrating that their enthusiast-focused model is paying off handsomely. For the first nine months of 2025, the company's total revenue increased 18% year-over-year to a record $1.0683 billion. This isn't just top-line growth; profitability is accelerating even faster, which is what I look for. Year-to-date net income jumped 73% to $120.7 million.

Here's the quick math on their core segments: Written Premium, their main product sale, climbed 13% to $934.4 million in the first nine months of 2025. But the real story is the Marketplace revenue, which surged by an incredible 135% year-to-date to reach $89.9 million, showing their diversification strategy is working. Plus, their operating income for Q3 2025 rose 240% to $34.3 million, a clear signal of margin expansion. They are defintely translating revenue into profit efficiently.

This strong performance led Hagerty to raise its full-year 2025 outlook for the second time, now projecting Total Revenue growth of 14% to 15% and Net Income growth between 58% and 65%. This kind of consistent, high-rate growth in a specialty niche is rare.

A Clear Industry Leader in Enthusiast Vehicles

Hagerty is firmly established as the leader in the enthusiast vehicle space, a position they've cemented by building a community, not just selling a policy. They are the world's largest provider of specialty insurance for classic vehicles, and their strategy extends far beyond traditional underwriting. Their niche focus gives them a significant advantage over general property and casualty (P&C) insurers.

For example, in recent quarters, major P&C peers like Travelers and AIG reported combined ratios of around 92% and 86.8%, respectively, but Hagerty's loss ratio improved to a remarkably low 42.1% for the first nine months of 2025. This low loss ratio highlights the advantage of insuring a dedicated, enthusiast clientele who generally take better care of their cherished assets. With approximately 908,000 paid members in the Hagerty Drivers Club as of mid-2025, the membership model creates a sticky customer base and a powerful distribution channel. This integrated approach is why they are not just surviving, but thriving. To understand the makeup of their shareholder base and what drives their stock, you should look into Exploring Hagerty, Inc. (HGTY) Investor Profile: Who's Buying and Why?

Hagerty, Inc. (HGTY) Mission Statement

You're looking for the bedrock of a company, the core thesis that drives its financial and operational strategy. For Hagerty, Inc. (HGTY), the mission is simple but profound: to be the essential organization for automotive enthusiasts. This isn't just a marketing slogan; it's the strategic blueprint that guides their capital allocation and product development, directly translating into their strong financial performance in 2025.

The company's overarching purpose is to save driving and to fuel car culture for future generations. Their mission, which is the operational roadmap to fund that purpose, is three-fold: to build a global business, create a space where team members thrive, and drive positive impact in the world. This integrated approach is why Hagerty's Total Revenue for the first nine months of 2025 hit $1,068.3 million, an 18% year-over-year increase, showing the mission isn't just about passion, but about profitable growth.

Component 1: Saving Driving and Car Culture

This is the soul of Hagerty, Inc., the core value proposition that differentiates them from a standard insurance carrier. They don't just insure assets; they protect a lifestyle. This component involves active preservation, engagement, and advocacy for the automotive community. It's what keeps their customers loyal.

The commitment to the enthusiast is defintely a key financial moat. The Hagerty Drivers Club (HDC) is the clearest example, acting as a high-retention membership ecosystem that feeds the insurance business. The company has insured over 2.6 million collector vehicles worldwide, and their HDC members boast an impressive 89% retention rate. That's a sticky customer base.

• Preservation: Providing specialized insurance and valuation tools.
• Engagement: Hosting and acquiring events like The Amelia and Motorlux.
• Advocacy: Championing the interests of car enthusiasts globally.

Here's the quick math: high engagement from the community drives membership, which in turn drives insurance policy sales. This is a powerful flywheel effect. The company is actively investing in this growth engine, targeting a goal to more than double their policy count to 3 million by 2030.

Component 2: Building a Global Business to Fund the Purpose

A mission is only sustainable if it's profitable. Hagerty, Inc. is clear that the global business is the engine funding their purpose. This means disciplined growth, margin expansion, and strategic investment in technology and market expansion. They are not just growing; they are growing efficiently.

The 2025 financial guidance shows this focus on translating revenue into higher profit rates. The company raised its full-year 2025 outlook for Net Income to a range of $112 million to $120 million, representing a 43% to 53% increase compared to 2024. That's a significant jump, and it's a direct result of scaling their platform and maintaining cost discipline.

A major action point for 2025 is the technology transformation, specifically the migration to the Duck Creek insurance platform, which is on schedule and within budget. This investment is designed to improve efficiency, which is critical for margin expansion. Also, the Marketplace revenue is accelerating, with a massive 135% year-to-date increase through Q3 2025, reaching $89.9 million. That's a clear sign of success in diversifying the business beyond just insurance. To delve deeper into Hagerty's strategic performance, you can read: Hagerty, Inc. (HGTY): History, Ownership, Mission, How It Works & Makes Money

Component 3: Creating a Thriving Team and Driving Positive Impact

The final component of the mission addresses the internal culture and external social responsibility, recognizing that a business is only as strong as its people and its reputation. This commitment is about integrity, excellence, and a long-term view that guides how they interact with their members, employees, and shareholders.

The focus here is on delivering high-quality products and services, which is reflected in their industry-leading Net Promoter Score (NPS) of 82. For a financial services company, that kind of customer advocacy is a massive competitive advantage. They believe in doing the right thing, which builds the trust necessary to maintain an 89% member retention rate.

Their commitment to positive impact includes the Hagerty Drivers Foundation, which works to preserve automotive heritage, and their focus on corporate governance, including having 25% female representation on their Board of Directors. This isn't just feel-good stuff; it's a risk mitigation strategy. A strong, ethical culture reduces operational risk and fosters the kind of innovation needed to deliver the 14-15% Total Revenue growth the company is projecting for the full year 2025.

Hagerty, Inc. (HGTY) Vision Statement

You're looking at Hagerty, Inc. (HGTY) not just as an insurance underwriter, but as a lifestyle brand, and that's exactly how their vision is structured. The core takeaway is that their mission-to save driving and car culture for future generations-is the engine driving their financial model, turning passion into predictable revenue streams.

Their vision is simple: to build the essential membership organization for automotive enthusiasts. This isn't corporate fluff; it's a clear, actionable strategy that connects their high-margin insurance business with their growing media, events, and marketplace segments. This alignment is why their latest outlook, as of November 2025, projects a Net Income growth of 58% to 65% for the full fiscal year, a powerful translation of brand loyalty into profit growth.

The Core Purpose: Saving Driving and Car Culture

Hagerty's mission is a genuine, empathetic commitment to 'save driving and car culture for future generations.' This is their moat (a sustainable competitive advantage), not just a slogan. They've realized that protecting a classic car is only half the business; you also have to protect the reason people own them. This focus is what allows them to command a premium and maintain an industry-leading Net Promoter Score (NPS), which is a key indicator of customer defintely loyalty.

This mission directly supports their insurance segment, which is expected to see Written Premium growth of 13% to 14% for the full year 2025, translating to an estimated $1.180 billion to $1.190 billion in Written Premium. This growth is fueled by their strategic partnerships, like the State Farm Classic Plus program, which expands their reach into over 25 states. They use media, events, and the Hagerty Drivers Club (HDC) to cultivate the culture, which then feeds back into the insurance business. It's a virtuous cycle. To learn more about how this model works, you can check out Hagerty, Inc. (HGTY): History, Ownership, Mission, How It Works & Makes Money.

Building the Essential Membership Organization

The vision of being the essential membership organization is executed primarily through the Hagerty Drivers Club (HDC) and their Marketplace. As of late 2025, the HDC community stands at nearly 890,000 paid members, a massive, engaged audience that provides a stable, recurring revenue base.

This membership base is crucial for cross-selling. For example, in the third quarter of 2025 alone, Marketplace revenue-which includes their auction house, Broad Arrow Auctions-surged by 58% year-over-year. This is how the vision pays off: a strong community means more transactions on their platform, diversifying revenue beyond just policies. Here's the quick math: if you have a loyal, captive audience of nearly a million enthusiasts, you don't have to spend as much on customer acquisition for your other services.

• Grow the HDC: Nearly 890,000 members as of mid-2025.
• Fuel Marketplace: Q3 2025 revenue up 58% YoY.
• Expand Events: Deepen community engagement and brand presence.

Core Values as a Financial Compass

Hagerty's five core values are the cultural guardrails that underpin their long-term financial strategy. These values-People Who Love Cars, We Are a Team, We Optimize for the Long-Term, We Innovate Every Day, and We Do the Right Thing-are what dictate capital allocation decisions.

The value 'We Optimize for the Long-Term' is particularly relevant for investors. It explains why they are making a significant, elevated investment of $20 million in technology platforms in 2025, primarily for their new Duck Creek system. This spending hits the bottom line now but is expected to drive margin expansion and efficiency for years to come. This long-term view is evident in their raised full-year 2025 outlook, which now anticipates Total Revenue of $1.368 billion to $1.380 billion, representing 14% to 15% growth.

What this estimate hides is the inherent risk of a discretionary spending slowdown, but their focus on the enthusiast community-People Who Love Cars-provides a buffer, as this segment has historically proven resilient. The commitment to Do the Right Thing is their insurance against reputational risk in a complex, high-value asset market. Finance: monitor the return on the $20 million technology investment against efficiency gains quarterly.

Hagerty, Inc. (HGTY) Core Values

You're looking for the foundational principles that drive Hagerty, Inc.'s impressive growth, and honestly, it all comes down to five core values. These aren't just posters on a wall; they are the operational guideposts that translate passion into profit, which is why the company's full-year 2025 revenue outlook was raised to between $1.368 billion and $1.380 billion. That kind of performance is defintely a result of clear, value-driven execution.

As a seasoned analyst, I see these values as the risk-mitigation and opportunity-capture framework for the business. They simplify complex strategic decisions. For more on the business model, you can check out Hagerty, Inc. (HGTY): History, Ownership, Mission, How It Works & Makes Money.

People Who Love Cars

This value is Hagerty's mission statement in action: to save driving and car culture for future generations. It's a commitment to the customer's passion, not just their policy premium. The company doesn't just insure vehicles; it builds a community for the estimated 67 million Americans who self-describe as car enthusiasts. That's a huge, engaged market.

The commitment shows up in the numbers, too. In the first nine months of 2025, Hagerty added 258,000 new members. Plus, the launch of the Enthusiast Plus program in 2025, which expands specialty insurance offerings to cover modern enthusiast vehicles, proves they are adapting to what the next generation of car lovers actually drives. They are focused on the entire lifecycle of car enthusiasm.

• Addressed 67 million enthusiast market.
• Grew membership by 258,000 in 2025 YTD.
• Launched Enthusiast Plus for modern cars.

We Are a Team

This value speaks to internal culture and external partnerships. You can't achieve industry-leading metrics without a cohesive team and strong alignment with partners. Hagerty's policy retention rate of 88.6% and its industry-leading Net Promoter Score (NPS) of 82 are direct evidence of this value working. High NPS means your customers are happy, and happy customers are often a reflection of happy, well-supported employees.

The major partnership with State Farm is another concrete example. The conversion of State Farm's over 525,000 Classic policies to their new Classic Plus program, powered by Hagerty, ramped up significantly in the third quarter of 2025. October 2025 alone delivered the highest Policy in Force (PIF) growth in the company's history, showing that the teams-both internal and external-are executing seamlessly. Here's the quick math: strong partnerships equal accelerating policy growth.

We Optimize for the Long-Term

Short-term gains are easy to chase, but sustainable value creation requires patience and strategic investment. This value guides Hagerty's capital allocation. In 2025, the company made an elevated investment of $20 million into its technology platforms, specifically the new Duck Creek system for insurance products. This is a forward-looking move, positioning them for improved efficiency and margin expansion in 2026 and beyond, even if it slightly dampens 2025 net income growth.

Another long-term play is the Liberty Mutual partnership, announced in late 2025. While the full rollout is set for 2026, it gives Hagerty access to a massive client base, opening new distribution channels that will shape the long-term growth narrative. They are trading immediate, maximum profit for enduring, scalable infrastructure.

We Innovate Every Day

Innovation is about finding new ways to serve the enthusiast. The third quarter of 2025 saw membership, marketplace, and other revenue jump by an exceptional 54% year-over-year. This surge was largely due to the expansion of their European auction business, Broad Arrow Auctions, and growth in inventory sales.

They are not resting on their insurance laurels. The launch of the 'Global Icons' online auction concept in November 2025, set for January 2026, is a further innovation to expand their footprint across the UK and Europe. That's how you turn a niche insurance provider into a full-spectrum automotive enthusiast brand-by constantly evolving the offering.

We Do the Right Thing

In the financial world, doing the right thing often means responsible underwriting and ethical claims handling, which builds trust and lowers long-term risk. Hagerty's average loss ratio-the percentage of premium paid out in claims-is a remarkable 39%, which is significantly better than the industry average of 68%. This precision underwriting is a financial manifestation of 'doing the right thing' by accurately valuing and protecting enthusiast vehicles.

This commitment to fairness and expertise is what keeps the policy retention rate high and the Net Promoter Score at 82. When you treat the customer's passion with respect and handle claims responsibly, they stick around. It's a simple, but powerful, formula for their projected 2025 Net Income of up to $129 million.