Hagerty, Inc. (NYSE:HGTY) Q1 2024 Earnings Call Transcript

Operator: We’ve reached the end of question-and-answer session. I’ll turn the call over to the McKeel Hagerty for closing.

McKeel Hagerty: All right. Thank you, operator, and thanks to all of you for your continued support and interest in Hagerty. We have carefully built a highly differentiated business model over the last four decades, and that is just beginning to hit its stride as we help members protect buy-sell and enjoy their price vehicles. As I mentioned on our last call, our omnichannel distribution delivers high rates of commissionable revenue growth. Membership supports the profitability of our insurance business through excellent retention and net promoter scores from happy members. We are investing significant resources to build Hagerty marketplace into the trusted and preferred platform in this rapidly growing market and we also continue our multiyear evolution towards increasing our flexibility and control over our underwriting profits.

This allows us to maintain high rates of written premium growth as we further penetrate the 46 million collectible cars in the United States. We will be hosting an in-person event for investors on May 31, in Greenwich, Connecticut, where we will share more color on how we are positioning the Company for long-term growth and margin expansion. We hope to see there as the entire weekend of the Greenwich Concord Telecom should be a lot of fun for all. Until then never stop driving.

Operator: This will conclude today’s conference. You may disconnect your lines at this time. Thank you for your participation.