Thu, 02 Jul 2026 | BUSINESS SALE
New York Stock Exchange-listed insurance group Hagerty is set to acquire motorcycle insurance broker Bennetts from Lucida Group. The £34 million deal, which is subject to regulatory approval and is expected to complete in the third quarter of the year, is forecast to triple the group’s UK revenues to approximately £25 million.
Founded in Coventry close to 100 years ago and now headquartered in Peterborough, Bennetts provides specialist motorcycle cover to more than 200,000 UK customers - reported to represent a 15 per cent share of the UK motorcycle insurance market.
According to industry reports, Bennetts’ book is 92 per cent composed of enthusiast riders, a profile mirroring Hagerty’s own classic and enthusiast car portfolio, with the combination seen as creating strong cross-sell potential.
Bennetts’ strong brand engagement is also described as an attractive feature of the deal, with the broker’s Bike Social community platform having approximately 100,000 members, in addition to its 250,000 YouTube subscribers and 41 million social media interactions annually.
McKeel Hagerty, Chief Executive and Chairman of Hagerty, said: "Bennetts is a brand built the same way Hagerty was built – by genuine enthusiasts, for genuine enthusiasts”
“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, said: "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."
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