Hagerty Agrees to Acquire Bennetts to Become #2 Speciality Motorcycle Insurance Broker in the United Kingdom.
Hagerty Agrees to Acquire Bennetts to Become #2 Speciality Motorcycle Insurance Broker in the United Kingdom.Hagerty, Inc. (NYSE: HGTY), a business that makes it easier and more enjoyable to be a driving enthusiast through insurance, buying and selling platforms, publishing and events, today announced that it has entered into a definitive agreement to acquire Bennetts, the United Kingdom’s #2 speciality motorcycle insurance broker, from Lucida Group for £34 million ($44.9 million USD). The transaction is expected to be immediately accretive and close during the third quarter of 2026, subject to regulatory approval. The acquisition increases Hagerty’s international scale, augmenting the ongoing investment into Hagerty’s Broad Arrow business outside of the United States.
Founded more than 90 years ago, Bennetts brings 15% UK motorcycle insurance market share and a 65 Net Promoter Score through a member-centric approach similar to Hagerty’s model in the enthusiast car space.
“Bennetts is a brand built the same way Hagerty was built – by genuine enthusiasts, for genuine enthusiasts,” said McKeel Hagerty, Chief Executive Officer and Chairman of Hagerty. “Their 100,000 community members from Bennetts’ ‘Bike Social’ platform, decades of trust in the UK motorcycle market and disciplined, low-frequency book make this a natural extension of everything we stand for as we look to seed our international growth in a deliberate way.”
Mark Roper, Hagerty’s UK Managing Director, added, “We are excited to welcome the Bennetts team into the Hagerty family. Bennetts has built something special — a brand riders trust, a community they love and a business with momentum. Our commitment is simple: keep what makes Bennetts great, and bring the best of Hagerty alongside it, building something stronger than either of us could on our own.”
Tripling Hagerty’s UK Footprint
The acquisition is also expected to triple Hagerty’s UK revenue to approximately £25 million, and to be financially accretive from day one, even before the realisation of identified synergies.
This acquisition builds on the international momentum Hagerty has established through Broad Arrow Auctions, which has expanded its European presence over the past year. Together, both brands can create a more integrated enthusiast platform in the United Kingdom – combining specialty insurance, live and digital auctions and community engagement across both motorcycles and enthusiast cars with meaningful cross-sell opportunities.
Bennetts’ book comprises 92% enthusiast riders and has a risk profile that closely mirrors Hagerty’s enthusiast car insurance portfolio. Bennetts’ 4.7/5.0 Trustpilot rating, 250,000 YouTube subscribers, and 41 million annual social media interactions reflects an exceptional level of authentic community engagement.
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or head to the official Bennetts UK website bennetts.co.uk
Who are Bennetts
Bennetts is a prominent UK-based specialist insurance broker founded in 1930, focusing primarily on motorcycle insurance, including for classic and modified bikes. They act as an intermediary to compare policies from various underwriters. Bennetts is well-known for offering Defaqto 5-star rated coverage and includes “BikeSocial” membership with policies.
Facebook: @bennettsbike
Instagram: @bennetts_bike
About Hagerty, Inc. (NYSE: HGTY)
Hagerty is a company built by drivers for drivers, protecting 2.9 million vehicles in the United States, Canada and the UK. We make it easier and more enjoyable for enthusiasts to drive and celebrate the machines they love through innovative insurance products, live and digital auctions, engaging media and events, as well as the Hagerty Drivers Club, the world’s largest community of car lovers.
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Original post on modernclassicbikes.co.uk and published by Frank Duggan. Frank is the Founder and Editor of Modern Classic Motorcycle News, an independent motorcycle publication covering modern classic motorcycles, roadsters, scramblers, cruisers, electric motorcycles and the wider motorcycle industry.
