Hagerty Acquires Bennetts: Expanding into Motorcycle Insurance

Hagerty Inc. has announced plans to acquire Bennetts, a major player in the United Kingdom's specialty motorcycle insurance sector. Valued at £34 million (around $43 million), this transaction is a strategic move to expand Hagerty’s insurance platform internationally and enhance its presence in the UK market for enthusiast vehicles.

The acquisition is anticipated to finalize by the third quarter of 2026, pending regulatory approval. Once completed, Hagerty expects the acquisition to positively impact earnings and considerably broaden its UK operations. Bennetts, established in 1930, currently commands roughly 15% of the UK motorcycle insurance market. The company is well-regarded for its focus on motorcycle enthusiasts, offering a combination of specialty insurance and its community initiative, BikeSocial.

This acquisition marks a significant expansion of Hagerty’s enthusiast-focused approach, traditionally centered on classic and collector automobiles, into the motorcycle insurance space. The company projects the transaction will triple its UK revenue to about £25 million and create new avenues for customer interaction across its insurance, auctions, media, and enthusiast community platforms.

Community-Driven Models Align

McKeel Hagerty, Chairman and CEO of Hagerty, stated, “Bennetts is a brand built the same way Hagerty was built – by genuine enthusiasts, for genuine enthusiasts.” He emphasized the alignment between Bennetts’ community-driven model and Hagerty’s international growth ambitions. The deal is consistent with Hagerty’s broader strategy of international expansion, which recently saw growth in its Broad Arrow Auctions business across Europe.

Bennetts’ customer demographic closely aligns with Hagerty’s, with 92% of its policyholders identified as enthusiast riders, mirroring the risk profile of Hagerty’s existing client base. The UK broker also shows strong consumer engagement, demonstrated by high ratings and widespread social media activity.

Strategic Benefits of Acquisition

Mark Roper, Managing Director of Hagerty UK, expressed enthusiasm about the merger, noting plans to leverage Hagerty's broader capabilities while maintaining Bennetts' established brand, known for its community trust and business momentum. This acquisition not only enhances Hagerty’s footprint in the UK insurance market but also opens doors for cross-selling opportunities in the motorcycle and collector car enthusiast sectors.

Hagerty, based in Traverse City, Michigan, specializes in insurance for collector and enthusiast vehicles and manages automotive media, auctions, and the Hagerty Drivers Club. With a portfolio covering nearly 2.9 million vehicles across North America and the UK, Hagerty continues to grow its international reach and engage enthusiast vehicle communities with a multifaceted service platform.