Hagerty Agrees to Acquire Bennetts to Become #2 Specialty Motorcycle Insurance Broker in the United Kingdom

Hagerty, Inc. has agreed to acquire Bennetts to expand its position as the UK’s second-largest specialist motorcycle insurance broker. The Traverse City, Michigan-based company will buy Bennetts from Lucida Group for £34 million (about $43 million), with the deal expected to close in the third quarter of 2026, subject to regulatory approval. Hagerty says the transaction is expected to be immediately accretive. Bennetts holds a 15% share of the UK motorcycle insurance market and reports a 65 Net Promoter Score, supported by its member-centric “Bike Social” community. The acquisition is expected to triple Hagerty’s UK revenue to approximately £25 million and strengthen international growth tied to its Broad Arrow business. Bennetts’ portfolio is 92% enthusiast riders and has a risk profile aligned with Hagerty’s enthusiast car insurance.