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Hagerty HGTY Insurance — Policy acquisition costs, net

Other segment segments

Marketplace
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Other financials

Income statement

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Revenue$311.8M-5.0%
Operating income$34.3M+240%
Net income-$12.7M-147%
EPS (diluted)-$0.06-186%

Balance sheet

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Cash & equivalents$366.7M+28.1%
Total debt$272.5M+50.3%
Total equity$218.7M+34.2%
Total assets$2.0B+11.5%

Cash flow

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Operating cash flow$16.3M-62.9%
CapEx$7.7M+43.1%
Free cash flow$8.5M-77.8%

Valuation

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Market cap$1.17B+30.8%
Enterprise value$1.07B+36.3%
P/E10.7×+1.5×
P/S0.8×+0.1×

Profitability

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Operating margin8.1%
Net margin7.5%0.0pp
FCF margin11.4%

Returns & leverage

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Return on equity57.2%-18.7pp
Debt / equity1.2×+0.1×
Current ratio0.0×

Where this comes from

Reported directly by Hagerty in its filing.

Tagged under the XBRL concept hgty:PolicyAcquisitionCostsNet.

The official record: Hagerty’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Hagerty's insurance — policy acquisition costs, net?
Hagerty (HGTY) reported insurance — policy acquisition costs, net of $101.92M in Q1 2026.
What does insurance — policy acquisition costs, net mean?
Expenses directly related to the acquisition of new insurance policies, such as commissions paid to agents and brokers, net of any ceding commissions received. It measures the efficiency and cost-effectiveness of the company's distribution and sales channels.