Hagerty, Inc. · NYSE:HGTY
Hagerty — Merger or Acquisition (February 2024)
7 slides from Hagerty's merger presentation, Feb 13, 2024
Slide 1: Hagerty Investor Update: CNIC Acquisition
1 Hagerty Investor Update CNIC Acquisition February 12, 2024 EXHIBIT 99.1
Slide 2: Forward Looking Statements / Non-GAAP Financial Measures
2 Forward Looking Statements / Non-GAAP Financial Measures
Slide 3: Hagerty: The world's leading brand for auto enthusiasts
Hagerty: The world’s leading brand for auto enthusiasts to protect, buy, sell and enjoy their special cars
Slide 4: Evolution to Capture Commissions Plus Underwriting Profits Working Closely with our Partner Markel
4 Evolution to Capture Commissions Plus Underwriting Profits Working Closely with our Partner Markel Markel acquired Essentia in 2012 to exclusively underwrite Hagerty US business, Markel acquired 25% of Hagerty in 2019 Hagerty will cease quota share in the UK commencing in 2024
Slide 5: Decades of Underwriting Drives Predictably Low Loss Ratios
Decades of Underwriting Drives Predictably Low Loss Ratios Hagerty MGA delivers consistent commission growth powered by written premium growth 5 ◦ Superior value proposition and innovative partnerships ◦ Engaging, seamless member experience and cross-selling Multi-dimensional first-party data advant
Slide 6: CNIC acquisition – Hagerty's New Carrier Platform
CNIC acquisition – Hagerty’s New Carrier Platform • Estimated $18.4 million price for CNIC (Consolidated National Insurance Company) ◦ ~$10.4 million for the 38 approved state licenses and ~$8 million for expected capital and surplus • Continue the evolution of Hagerty ecosystem to incorporate a dir
Slide 7: Post 1980 vehicles becoming more impactful for growth
Post 1980 vehicles becoming more impactful for growth Significant opportunity given <2% penetration today 7 7% an nual g rowth in pr e 198 0s 18% a nnual grow th in p ost 19 80s Type Total Market (cars, mm) Hagerty Penetration Pre-1981 Classics 11.2 13.3% Post 1980 Collectibles 35.2 1.7% Total ~46.3