Hagerty adjusted Ebitda drops 35% after $25mn in Helene claims; ups FY revenue guidance
Hagerty’s adjusted Ebitda fell by 35 percent in the third quarter to $24.2mn, driven by $24.7mn in pre-tax losses from Hurricane Helene, which drove the classic car insurer’s loss ratio up by 18.9pts to 60.0 percent.
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