Hagerty names Arjun H. Chowdri as Senior Vice President of Membership & Retention

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Jan 18, 2024, 09:00 ET

TRAVERSE CITY, Mich., Jan. 18, 2024 /PRNewswire/ -- Hagerty, Inc., (NYSE: HGTY) an automotive enthusiast brand and leading specialty vehicle insurance provider, has named Arjun H. Chowdri as its new Senior Vice President of Membership and Retention. Arjun will lead the company's global membership programs, including the Hagerty Driver's Club, the world's largest paid car club with more than 800,000 members. Additionally, Arjun will lead Hagerty's Garage and Social business, a portfolio of five premium car storage and clubhouse locations across the US and Canada. Prior to joining Hagerty, Arjun was Chief Administrative and Innovation Officer for the PGA of America.

"Hagerty's membership program creates unique opportunities to engage with our passionate customers and create top tier brand loyalty," said Paul Rehrig, President of Hagerty Media, Marketing and Membership. "Arjun's impressive experience and track record, most recently at the PGA of America, make him the ideal executive to lead our membership programs and retention marketing efforts."

Chowdri's wealth of experience was cultivated through two decades of experience with lifestyle brands. As Chief Administrative and Innovation Officer for the PGA, he oversaw the planning, execution and measurement of success throughout the organization. He also identified new growth areas and opportunities across the organization; guided the development of new initiatives and services; led international expansion; and directed PGA investments. Prior to joining the PGA, Chowdri led the sports and entertainment marketing efforts behind Coca-Cola's Glaceau brands that included POWERADE, vitaminwater and NOS Energy.

Chowdri said, "Hagerty has a leadership position as an authentic community-focused brand, delivering high value products and services through a team-based culture. I'm honored to have the opportunity to join Hagerty at this time in the company's journey and look forward to working across the organization to deepen our member's enthusiasm for classic and collectible cars."

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. These forward-looking statements reflect Hagerty's current expectations and projections with respect to its expected future business and financial performance, including, among other things: (i) expected operating results, such as revenue growth and increases in earned premium; (ii) changes in the market for Hagerty's products and services, (iii) Hagerty's plans to expand market share, including planned investments and partnerships; (iv) anticipated business objectives; and (v) the strength of Hagerty's business model. These statements may be preceded by, followed by or include the words "aim," "anticipate," "believe," "estimate," "expect," "forecast," "future," "goal," "intend," "likely," "outlook," "plan," "potential," "project," "seek," "target," "can," "could," "may," "should," "would," "will," the negatives thereof and other words and terms of similar meaning.

A number of factors could cause actual results or outcomes to differ materially from those indicated by these forward-looking statements. These factors include, among other things, Hagerty's ability to: (i) compete effectively within its industry and attract and retain members; (ii) maintain key strategic relationships with its insurance distribution and underwriting carrier partners; (iii) prevent, monitor and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages with its technology platforms or third-party services; (v) accelerate the adoption of Hagerty's membership products as well as any new insurance programs and products; (vi) manage the cyclical nature of the insurance business including through any periods of recession, economic downturn or inflation; (vii) address unexpected increases in the frequency or severity of claims; (vii) comply with the numerous laws and regulations applicable to Hagerty's business, including state, federal and foreign laws relating to insurance and rate increases, privacy, the internet and accounting matters; (ix) manage risks associated with being a controlled company; and (x) other risks and uncertainties indicated from time to time in documents filed or to be filed with the Securities and Exchange Commission (the "SEC") by Hagerty.

The forward-looking statements herein represent the judgment of Hagerty as of the date of this release and Hagerty disclaims any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This press release should be read in conjunction with the information included in the Company's other press releases, reports and other filings with the SEC. Understanding the information contained in these filings is important in order to fully understand Hagerty's reported financial results and our business outlook for future periods.

About Hagerty, Inc. (NYSE: HGTY)

Hagerty is an automotive enthusiast brand committed to saving driving and fueling car culture for future generations. The company is a leading provider of specialty vehicle insurance, expert car valuation data and insights, live and digital car auction services, immersive events and automotive entertainment custom made for the 67 million Americans who self-describe as car enthusiasts. Hagerty also operates in Canada and the U.K. and is home to Hagerty Drivers Club, a community of over 800,000 who can't get enough of cars. As a purpose-driven organization, Hagerty Impact aims to be a catalyst for positive change across the issues that matter most to our teams, our members, the broader automotive community, our shareholders and the planet at large. For more information, please visit www.hagerty.com or connect with us on Facebook, Instagram, Twitter and LinkedIn. More information can be found at newsroom.hagerty.com.

Category: Financial Source: Hagerty

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