Hagerty adjusted Ebitda drops 35% after $25mn in Helene claims; ups FY revenue guidance

Published: Thu 7 Nov 2024

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.