Hagerty Inc Class A (HGTY) has released an update.
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Hagerty Insurance Holdings, Inc. has agreed to purchase all capital stock of Consolidated National Insurance Company from Everspan for $18.4 million, a move set to expand Hagerty’s direct underwriting capabilities and enhance value for customers. Expected to close in Q2 2024, subject to regulatory approvals, this acquisition is part of Hagerty’s strategy to grow its unique brokerage platform, introduce new products, and tap into the underpenetrated classic vehicle insurance market.
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