Hagerty to Acquire UK Motorcycle Insurer Bennetts Founded in 1930
HGTY•Hagerty agreed to buy UK motorcycle insurer Bennetts, founded in 1930, to establish a foothold in Britain’s two-wheeler insurance market. The acquisition, which adds Bennetts’ historical brand and customer base to Hagerty’s specialty insurance offerings, aims to drive European growth.
1. Acquisition Overview
Hagerty announced it will acquire Bennetts to expand into the UK motorcycle insurance sector. Terms of the transaction were not disclosed and the deal is expected to close later this year subject to standard approvals.
2. Strategic Rationale
The purchase aligns with Hagerty’s strategy to diversify its specialty insurance portfolio and strengthen its presence in the European market. Bennetts’ established brand and distribution channels will provide immediate scale in two-wheeler coverage.
3. Company Background
Founded in 1930, Bennetts is one of the UK’s oldest motorcycle insurers, serving recreational and commuter riders with a range of policy options. Its integration offers Hagerty access to a loyal customer base and deep market expertise.
