Hagerty will acquire Bennetts, the UK's second‐largest specialty motorcycle insurer, for £34 million ($43 million), adding a 15% UK market share and tripling its UK revenue to about £25 million. The deal is immediately accretive, set to close in Q3 2026 and expands Hagerty's international scale and cross-sell potential via its Broad Arrow platform.
Hagerty has agreed to acquire Bennetts, the UK's #2 specialty motorcycle insurance broker, from Lucida Group for £34 million ($43 million). The transaction is subject to regulatory approval and is scheduled to close in the third quarter of 2026.
The purchase will triple Hagerty's UK insurance revenue to roughly £25 million and bring a 15% share of the UK motorcycle insurance market. Hagerty expects the deal to be immediately accretive, even before realizing identified synergies.
This deal augments Hagerty's Broad Arrow platform outside the US by adding specialty motorcycle insurance alongside its enthusiast car insurance and auction services. The combined network aims to leverage cross-selling between Hagerty’s insured base and Bennetts' motorcycle community.
Founded in 1930, Bennetts holds a 65 Net Promoter Score and a 4.7/5 Trustpilot rating, reflecting high customer loyalty. With 92% of its book comprising enthusiast riders and robust digital engagement, Bennetts aligns closely with Hagerty’s enthusiast-centric business model.
