Hagerty to become a publicly traded company

Hagerty to become a publicly-traded company via a merger with SPAC company Aldel Financial. It expects to be listed on the New York Stock Exchange under the ticker HGTY.

Hagerty is a specialty insurance provider for classic and enthusiast vehicles – with more than 2 million vehicles insured globally and partnerships with nine of the top 10 US automotive insurers; including State Farm and Essentia Insurance. It invested in an omnichannel distribution model that enables the organization to scale through national insurance partners, local agents and brokers, and direct distribution.

Its portfolio includes Hagerty Drivers Club, over 2,500 annual automotive events (including the recently acquired Amelia Island Concours d’Elegance), an expanding automotive media content platform, and its proprietary valuation tools.