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TRAVERSE CITY, Mich. - Hagerty, Inc. (NYSE:HGTY), an automotive enthusiast brand and specialty vehicle insurance provider with a market capitalization of $3.5 billion and strong financial health metrics according to InvestingPro, announced Thursday the appointment of two executives to strengthen its insurance leadership team.
Adam Van Loon has been named Senior Vice President of Insurance Distribution, while Jesse McKendry will serve as Senior Vice President of Insurance Product.
Van Loon, who previously served as Chief Partnerships Officer at Plymouth Rock Assurance, will lead Hagerty’s insurance sales strategy across North America. His responsibilities include accelerating growth through broker networks, agent networks, and partnerships. His prior experience includes positions at Chubb, Signal Mutual, and Bain & Company.
McKendry will focus on product development, pricing, underwriting, reserving, and reinsurance. He brings over two decades of experience from companies including GEICO, Lemonade, Metromile, and Progressive.
"Adam and Jesse are accomplished leaders with impressive track records of success, and their expertise will be instrumental through our next phases of growth," said Jeff Briglia, President of Insurance at Hagerty, in a press release statement.
Hagerty describes itself as a leading provider of specialty vehicle insurance and other automotive-related services. The company operates in the United States, Canada, and the United Kingdom, and reports a membership of nearly 890,000 in its Hagerty Drivers Club. With annual revenue exceeding $1.2 billion and a robust gross profit margin of 57%, the company shows strong operational efficiency. For detailed analysis and additional insights, including 7 more exclusive ProTips, visit InvestingPro.
In other recent news, Hagerty Inc. reported its first-quarter 2025 earnings, which exceeded Wall Street’s expectations. The company achieved earnings per share of $0.08, doubling the forecasted $0.04, while revenue reached $319.6 million, surpassing the anticipated $259.17 million. Additionally, Hagerty announced the appointment of Marc Burns as Senior Vice President of Brand and Marketing, a newly created position aimed at enhancing brand strategies and marketing initiatives. These efforts align with the company’s goal to double its policies in force by 2030. In another development, Broad Arrow Auctions, a Hagerty company, will host its inaugural Las Vegas auction on October 31, 2025, at Wynn Las Vegas. The event will feature approximately 70 collector cars as part of the fourth annual Concours event. These recent developments reflect Hagerty’s ongoing efforts to strengthen its market presence and engage with automotive enthusiasts.
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