WORDS: ELLIOTT HUGHES | PHOTOGRAPHY: HAGERTY
Michigan-based automotive lifestyle and specialist insurance company Hagerty has announced the next phase of its growth strategy almost exactly one month after CEO McKeel Hagerty rang the bell at the New York Stock Exchange, which signified the initial public offering (IPO) of his company on Wall Street.
The new strategy is spearheaded by a new Hagerty Marketplace business, designed to “both expand and centralise Hagerty’s portfolio of automotive-focused offerings”. Marketplace is intended to offer new services that streamline the buying and selling of collector cars, the details of which will be revealed later this year.
“Our recent IPO has allowed for an accelerated investment in ongoing projects related to our technological infrastructure as well as our member services,” said McKeel. “Providing high-trust platforms to buy and sell collectable cars benefits our members and further enhances Hagerty’s marketplace. It’s these on-ramps to enthusiasm that will help our ecosystem thrive.”
Hagerty has also announced significant investment into the recently formed Broad Arrow Group co-founded by a team of high-profile former RM Sotheby’s experts: Ken Ahn, Alain Squindo, Ian Kelleher and Mike Mortorano, along with former Twin Spark Finance MD Karsten Le Blanc. Broad Arrow Group president Ken Ahn has subsequently also been named Hagerty Marketplace president.
“With its longstanding history, stellar reputation and a vision to continue to expand Hagerty Drivers Club membership and its offerings in the collector car industry, partnering with Hagerty represents an incredibly unique opportunity for Broad Arrow Group,” said Ahn.
“Our goal is to continue to build a team made up of the collector car industry’s finest and by adding Ken, Alain, Ian and Mike, we’ve done just that,” added McKeel Hagerty. “We are always looking for ways to innovate and more broadly serve our members. The experience and vision that these four leaders bring to the table is invaluable as we explore new opportunities for Marketplace.”
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