2022 Q4 Form 10-K Financial Statement

#000184077623000021 Filed on March 14, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021 Q4
Revenue $822.3M $787.6M $154.4M
YoY Change 432.65% 27.22% 27.12%
Cost Of Revenue $182.4M
YoY Change 49.41%
Gross Profit $605.2M
YoY Change 21.77%
Gross Profit Margin 76.84%
Selling, General & Admin $620.5M $229.8M $134.1M
YoY Change 362.77% 33.6% 30.66%
% of Gross Profit 37.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.550M $33.89M $6.862M
YoY Change 39.17% 53.03% 90.4%
% of Gross Profit 5.6%
Operating Expenses $836.8M $229.8M $175.4M
YoY Change 377.12% 33.6% 33.36%
Operating Profit -$67.57M -$21.01M
YoY Change 570.96% 108.52%
Interest Expense $43.93M $43.93M -$44.53M
YoY Change -198.64% -198.64%
% of Operating Profit
Other Income/Expense, Net $4.000M $2.028M $1.041M
YoY Change 284.11% -201.76% -324.95%
Pretax Income $11.10M $11.10M -$64.50M
YoY Change -117.2% -120.32% 512.07%
Income Tax $7.017M $7.017M $1.961M
% Of Pretax Income 63.24% 63.24%
Net Earnings $32.08M $32.08M -$66.50M
YoY Change -148.24% -169.2% 472.63%
Net Earnings / Revenue 3.9% 4.07% -43.07%
Basic Earnings Per Share $0.39
Diluted Earnings Per Share $0.10 $0.10 -$155.0K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $95.17M $95.17M $275.3M
Short-Term Investments
Other Short-Term Assets $45.65M $37.08M $30.57M
YoY Change 49.36% 21.32%
Inventory $2.074M
Prepaid Expenses
Receivables $58.26M $46.73M
Other Receivables
Total Short-Term Assets $936.8M $97.23M $895.3M
YoY Change 4.64% 10.29% 74.4%
LONG-TERM ASSETS
Property, Plant & Equipment $25.26M $107.7M $28.36M
YoY Change -10.95% 279.56% 9.84%
Goodwill $115.0M $11.49M
YoY Change 901.4% 142.11%
Intangibles $104.0M $76.17M
YoY Change 36.57% 63.4%
Long-Term Investments $0.00
YoY Change
Other Assets $375.7M $444.0M $118.2M
YoY Change 217.82% 35.11% 65.28%
Total Long-Term Assets $375.7M $1.215B $146.6M
YoY Change 156.32% 27.43% 50.58%
TOTAL ASSETS
Total Short-Term Assets $936.8M $97.23M $895.3M
Total Long-Term Assets $375.7M $1.215B $146.6M
Total Assets $1.313B $1.313B $1.042B
YoY Change 25.98% 25.98% 70.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.28M $16.28M $9.084M
YoY Change 79.24% 79.24% -21.32%
Accrued Expenses $149.5M $149.5M $46.07M
YoY Change 224.46% 152.35% 27.03%
Deferred Revenue $25.26M $21.72M
YoY Change 16.27% 11.17%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $1.000M
YoY Change -100.0% 0.0%
Total Short-Term Liabilities $667.4M $285.2M $495.8M
YoY Change 34.6% 73.35% 28.87%
LONG-TERM LIABILITIES
Long-Term Debt $108.3M $108.3M $135.5M
YoY Change -20.09% -20.09% 96.38%
Other Long-Term Liabilities $3.210M $123.5M $7.043M
YoY Change -54.42% 4.66% 37.67%
Total Long-Term Liabilities $277.8M $231.7M $275.3M
YoY Change 0.92% -8.57% 153.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $667.4M $285.2M $495.8M
Total Long-Term Liabilities $277.8M $231.7M $275.3M
Total Liabilities $945.1M $1.253B $771.1M
YoY Change 22.58% -8.23% 56.28%
SHAREHOLDERS EQUITY
Retained Earnings -$489.6M -$482.3M
YoY Change 1.52% -948.6%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $59.25M $59.25M -$323.8M
YoY Change
Total Liabilities & Shareholders Equity $1.313B $1.313B $1.042B
YoY Change 25.98% 25.98% 70.6%

Cashflow Statement

Concept 2022 Q4 2022 2021 Q4
OPERATING ACTIVITIES
Net Income $32.08M $32.08M -$66.50M
YoY Change -148.24% -169.2% 472.63%
Depreciation, Depletion And Amortization $9.550M $33.89M $6.862M
YoY Change 39.17% 53.03% 90.4%
Cash From Operating Activities -$38.24M $55.33M -$43.08M
YoY Change -11.24% 30.86% -895.18%
INVESTING ACTIVITIES
Capital Expenditures $10.95M $44.38M -$12.21M
YoY Change -189.67% -202.32% -12.4%
Acquisitions $15.40M
YoY Change 5.44%
Other Investing Activities -$896.0K $721.0K -$3.026M
YoY Change -70.39% -1602.08% 4.51%
Cash From Investing Activities -$11.84M -$91.52M -$15.23M
YoY Change -22.26% 32.65% -9.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $122.5M
YoY Change 188.24%
Cash From Financing Activities -28.58M -$28.08M 287.1M
YoY Change -109.96% -108.46% 1223.31%
NET CHANGE
Cash From Operating Activities -38.24M $55.33M -43.08M
Cash From Investing Activities -11.84M -$91.52M -15.23M
Cash From Financing Activities -28.58M -$28.08M 287.1M
Net Change In Cash -78.66M -$64.78M 228.8M
YoY Change -134.38% -121.25% 2124.89%
FREE CASH FLOW
Cash From Operating Activities -$38.24M $55.33M -$43.08M
Capital Expenditures $10.95M $44.38M -$12.21M
Free Cash Flow -$49.18M $10.95M -$30.87M
YoY Change 59.31% -87.21% -259.51%

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CY2021Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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CY2022Q4 us-gaap Preferred Stock Value
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CY2021Q4 us-gaap Preferred Stock Value
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CY2022Q4 us-gaap Additional Paid In Capital
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CY2021Q4 us-gaap Additional Paid In Capital
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CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q4 us-gaap Minority Interest
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CY2021Q4 us-gaap Minority Interest
MinorityInterest
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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
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CY2021 hgty Net Income Loss Including Portion Attributable To Noncontrolling Interest Before Business Combination
NetIncomeLossIncludingPortionAttributableToNoncontrollingInterestBeforeBusinessCombination
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CY2021 hgty Other Comprehensive Income Loss Net Of Tax Before Transaction
OtherComprehensiveIncomeLossNetOfTaxBeforeTransaction
248000 usd
CY2021 us-gaap Distribution Made To Limited Liability Company Llc Member Cash Distributions Declared
DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsDeclared
4056000 usd
CY2021 us-gaap Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
1580000 usd
CY2021 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
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CY2021 hgty Temporary Equity Value Acquisitions
TemporaryEquityValueAcquisitions
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CY2021 hgty Net Income Loss Including Portion Attributable To Noncontrolling Interest After Business Combination
NetIncomeLossIncludingPortionAttributableToNoncontrollingInterestAfterBusinessCombination
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CY2021 us-gaap Temporary Equity Net Income
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CY2021 hgty Other Comprehensive Income Loss Net Of Tax After Transaction
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CY2021 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
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CY2021 us-gaap Temporary Equity Accretion To Redemption Value
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366522000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-322476000 usd
CY2021Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
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593277000 usd
CY2022 hgty Net Income Loss Including Portion Attributable To Noncontrolling Interest Before Business Combination
NetIncomeLossIncludingPortionAttributableToNoncontrollingInterestBeforeBusinessCombination
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CY2022 us-gaap Temporary Equity Net Income
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CY2022 hgty Other Comprehensive Income Loss Net Of Tax Before Transaction
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1657000 usd
CY2022 us-gaap Minority Interest Change In Redemption Value
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CY2022 us-gaap Temporary Equity Accretion To Redemption Value
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1560418000 usd
CY2022 hgty Noncontrolling Interest Removal Of Redeemable Feature
NoncontrollingInterestRemovalOfRedeemableFeature
2142490000 usd
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 usd
CY2022 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
34735000 usd
CY2021 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
0 usd
CY2022 hgty Temporary Equity Noncontrolling Interest Removal Of Redeemable Feature
TemporaryEquityNoncontrollingInterestRemovalOfRedeemableFeature
-2142490000 usd
CY2022 hgty Net Income Loss Including Portion Attributable To Noncontrolling Interest After Business Combination
NetIncomeLossIncludingPortionAttributableToNoncontrollingInterestAfterBusinessCombination
17459000 usd
CY2022 hgty Other Comprehensive Income Loss Net Of Tax After Transaction
OtherComprehensiveIncomeLossNetOfTaxAfterTransaction
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CY2022 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
1906000 usd
CY2022 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
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0 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12129000 usd
CY2022 us-gaap Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
1700000 usd
CY2022 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
73253000 usd
CY2022 hgty Reallocation Between Controlling And Non Controlling Interest
ReallocationBetweenControllingAndNonControllingInterest
0 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
367369000 usd
CY2022Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
0 usd
CY2022 us-gaap Profit Loss
ProfitLoss
2403000 usd
CY2021 us-gaap Profit Loss
ProfitLoss
-61354000 usd
CY2022 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-41899000 usd
CY2021 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
42540000 usd
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1676000 usd
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
4698000 usd
CY2021 us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
22669000 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
2574000 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
3005000 usd
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
33887000 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
22144000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2973000 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3038000 usd
CY2022 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-4316000 usd
CY2021 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-2425000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
12129000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
0 usd
CY2022 hgty Non Cash Lease Expense
NonCashLeaseExpense
10875000 usd
CY2021 hgty Non Cash Lease Expense
NonCashLeaseExpense
0 usd
CY2022 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-533000 usd
CY2021 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-155000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
24059000 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
13449000 usd
CY2022 us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
25403000 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
12021000 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
18523000 usd
CY2022 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
25807000 usd
CY2021 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
22963000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
10834000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2890000 usd
CY2022 us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
21034000 usd
CY2021 us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
12502000 usd
CY2022 us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
36872000 usd
CY2021 us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
19882000 usd
CY2022 us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
60263000 usd
CY2021 us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
50491000 usd
CY2022 hgty Increase Decrease In Commissions Payable
IncreaseDecreaseInCommissionsPayable
16472000 usd
CY2021 hgty Increase Decrease In Commissions Payable
IncreaseDecreaseInCommissionsPayable
16805000 usd
CY2022 hgty Increase Decrease In Ceded Premiums Payable
IncreaseDecreaseInCededPremiumsPayable
10427000 usd
CY2021 hgty Increase Decrease In Ceded Premiums Payable
IncreaseDecreaseInCededPremiumsPayable
8883000 usd
CY2022 hgty Increase Decrease In Advanced Premiums
IncreaseDecreaseInAdvancedPremiums
3259000 usd
CY2021 hgty Increase Decrease In Advanced Premiums
IncreaseDecreaseInAdvancedPremiums
124000 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-2285000 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
2049000 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-9779000 usd
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
0 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1239000 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
6096000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
55328000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
42281000 usd
CY2022 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
44375000 usd
CY2021 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
43370000 usd
CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
15404000 usd
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
14609000 usd
CY2022 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
15250000 usd
CY2021 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 usd
CY2022 hgty Payments To Fund Notes Receivable Previously Held Equity Investment
PaymentsToFundNotesReceivablePreviouslyHeldEquityInvestment
7000000 usd
CY2021 hgty Payments To Fund Notes Receivable Previously Held Equity Investment
PaymentsToFundNotesReceivablePreviouslyHeldEquityInvestment
0 usd
CY2022 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
6123000 usd
CY2021 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
0 usd
CY2022 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
370000 usd
CY2021 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 usd
CY2022 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
4234000 usd
CY2021 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
12246000 usd
CY2022 us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
1216000 usd
CY2021 us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
1183000 usd
CY2022 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
721000 usd
CY2021 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-48000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-91521000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-68994000 usd
CY2022 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
122500000 usd
CY2021 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
42500000 usd
CY2022 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
94367000 usd
CY2021 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
109000000 usd
CY2022 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
1700000 usd
CY2021 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
1580000 usd
CY2022 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
0 usd
CY2021 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
4056000 usd
CY2022 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 usd
CY2021 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
962000 usd
CY2022 hgty Proceeds From Business Combination Gross
ProceedsFromBusinessCombinationGross
0 usd
CY2021 hgty Proceeds From Business Combination Gross
ProceedsFromBusinessCombinationGross
789661000 usd
CY2022 hgty Payments For Cash Consideration To Shareholders In Business Combination
PaymentsForCashConsiderationToShareholdersInBusinessCombination
0 usd
CY2021 hgty Payments For Cash Consideration To Shareholders In Business Combination
PaymentsForCashConsiderationToShareholdersInBusinessCombination
489661000 usd
CY2022 us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
1651000 usd
CY2021 us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
30991000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-28084000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
332071000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-504000 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-464000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-64781000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
304894000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
603972000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
299078000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
539191000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
603972000 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1592000 usd
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4668000 usd
CY2022 hgty Warrant Liabilities Assumed In Business Combination
WarrantLiabilitiesAssumedInBusinessCombination
0 usd
CY2021 hgty Warrant Liabilities Assumed In Business Combination
WarrantLiabilitiesAssumedInBusinessCombination
46826000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
4868000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
2502000 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
5253000 usd
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
2160000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
95172000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
275332000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
444019000 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
328640000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
539191000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
603972000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Use of Estimates — </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">The preparation of the Company's Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenue and expenses during the reporting period. Although the estimates are considered reasonable, actual results could materially differ from those estimates.</span>Significant estimates made by management include, but are not limited to: (1) the provision for unpaid losses and loss adjustment expenses, including incurred but not reported ("IBNR") claims; (2) the change in fair value of warrant liabilities; (3) the liability associated with the payments due under the Tax Receivable Agreement ("TRA"); (4) the purchase price allocation and related estimates and assumptions in business combinations; (5) the fair values of the reporting units used in assessing the recoverability of goodwill; and (6) the useful lives of intangible assets. Although some variability is inherent in these estimates, the Company believes that the current estimates are reasonable in all material respects. These estimates are reviewed regularly and adjusted as necessary. Adjustments related to changes in estimates are reflected in the Company’s results of operations in the period for which those estimates changed.
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
4700000 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2022 hgty Revenue From Contract With Customer Membership Period
RevenueFromContractWithCustomerMembershipPeriod
P1Y
CY2022 us-gaap Advertising Expense
AdvertisingExpense
27800000 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
24100000 usd
CY2021Q4 hgty Tax Receivable Agreement Tax Benefit Distributions To Noncontrolling Interest Holders Percent
TaxReceivableAgreementTaxBenefitDistributionsToNoncontrollingInterestHoldersPercent
0.85
CY2021Q4 hgty Tax Receivable Agreement Tax Benefit Retained By Parent Percent
TaxReceivableAgreementTaxBenefitRetainedByParentPercent
0.15
CY2021Q4 hgty Tax Receivable Agreement Tax Benefit Distributions To Noncontrolling Interest Holders Percent
TaxReceivableAgreementTaxBenefitDistributionsToNoncontrollingInterestHoldersPercent
0.85
CY2021Q4 hgty Tax Receivable Agreement Tax Benefit Retained By Parent Percent
TaxReceivableAgreementTaxBenefitRetainedByParentPercent
0.15
CY2022 hgty Insurance Annual Exposure Limit
InsuranceAnnualExposureLimit
11400000 usd
CY2021 hgty Insurance Annual Exposure Limit
InsuranceAnnualExposureLimit
10800000 usd
CY2022Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
1200000 usd
CY2021Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
900000 usd
CY2022 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.040
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
6200000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
4900000 usd
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
72800000 usd
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
72800000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
384527000 usd
CY2022 us-gaap Premiums Earned Net
PremiumsEarnedNet
403061000 usd
CY2022 us-gaap Revenues
Revenues
787588000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
323255000 usd
CY2021 us-gaap Premiums Earned Net
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295824000 usd
CY2021 us-gaap Revenues
Revenues
619079000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
384527000 usd
CY2022 us-gaap Premiums Earned Net
PremiumsEarnedNet
403061000 usd
CY2022 us-gaap Revenues
Revenues
787588000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
323255000 usd
CY2021 us-gaap Premiums Earned Net
PremiumsEarnedNet
295824000 usd
CY2021 us-gaap Revenues
Revenues
619079000 usd
CY2022 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
474293000 usd
CY2021 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
353925000 usd
CY2022 us-gaap Ceded Premiums Written
CededPremiumsWritten
10749000 usd
CY2021 us-gaap Ceded Premiums Written
CededPremiumsWritten
7920000 usd
CY2022 us-gaap Premiums Written Net
PremiumsWrittenNet
463544000 usd
CY2021 us-gaap Premiums Written Net
PremiumsWrittenNet
346005000 usd
CY2022 us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
-60263000 usd
CY2021 us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
-50491000 usd
CY2022 hgty Increase Decrease In Deferred Reinsurance Premiums Net
IncreaseDecreaseInDeferredReinsurancePremiumsNet
-220000 usd
CY2021 hgty Increase Decrease In Deferred Reinsurance Premiums Net
IncreaseDecreaseInDeferredReinsurancePremiumsNet
310000 usd
CY2022 us-gaap Premiums Earned Net
PremiumsEarnedNet
403061000 usd
CY2021 us-gaap Premiums Earned Net
PremiumsEarnedNet
295824000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
60151000 usd
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
57596000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
44426000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
41390000 usd
CY2022 hgty Contract With Customer Asset Recognized
ContractWithCustomerAssetRecognized
59800000 usd
CY2022 hgty Contract With Customer Asset Received
ContractWithCustomerAssetReceived
-57200000 usd
CY2022 us-gaap Deferred Policy Acquisition Costs Text Block1
DeferredPolicyAcquisitionCostsTextBlock1
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">3 — Deferred Acquisition Costs</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">The following table presents a reconciliation of the changes in deferred acquisition costs for the periods specified below:</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:68.622%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.761%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.355%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.762%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2021</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:100%">in thousands</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Deferred acquisition costs as of January 1,</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">81,535 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">58,572 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Acquisition costs deferred</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">216,957 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">163,946 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Amortization charged to income</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(191,150)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(140,983)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Deferred acquisition costs as of December 31,</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">107,342 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">81,535 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>
CY2021Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
81535000 usd
CY2020Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
58572000 usd
CY2022 us-gaap Deferred Policy Acquisition Costs Additions
DeferredPolicyAcquisitionCostsAdditions
216957000 usd
CY2021 us-gaap Deferred Policy Acquisition Costs Additions
DeferredPolicyAcquisitionCostsAdditions
163946000 usd
CY2022 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
191150000 usd
CY2021 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
140983000 usd
CY2022Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
107342000 usd
CY2021Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
81535000 usd
CY2022Q4 hgty Prepaid Selling General And Administrative Expense
PrepaidSellingGeneralAndAdministrativeExpense
24234000 usd
CY2021Q4 hgty Prepaid Selling General And Administrative Expense
PrepaidSellingGeneralAndAdministrativeExpense
18004000 usd
CY2022 hgty Loan To Value Ratio
LoanToValueRatio
0.65
CY2022Q4 hgty Prepaid Software Implementation Costs
PrepaidSoftwareImplementationCosts
18501000 usd
CY2021Q4 hgty Prepaid Software Implementation Costs
PrepaidSoftwareImplementationCosts
16318000 usd
CY2022Q4 us-gaap Debt Securities Held To Maturity Amortized Cost After Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAmortizedCostAfterAllowanceForCreditLoss
12986000 usd
CY2021Q4 us-gaap Debt Securities Held To Maturity Amortized Cost After Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAmortizedCostAfterAllowanceForCreditLoss
10785000 usd
CY2022Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
6576000 usd
CY2021Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
4160000 usd
CY2022Q4 hgty Media Content Assets
MediaContentAssets
5580000 usd
CY2021Q4 hgty Media Content Assets
MediaContentAssets
3335000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
14856000 usd
CY2021Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
8118000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
82733000 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
60720000 usd
CY2022Q4 us-gaap Other Investments
OtherInvestments
4000000 usd
CY2022Q4 hgty Derivative Asset Other
DerivativeAssetOther
3300000 usd
CY2022Q4 hgty Collector Vehicles
CollectorVehicles
2500000 usd
CY2022Q4 hgty Deferred Financing Costs Other
DeferredFinancingCostsOther
1400000 usd
CY2022Q4 us-gaap Reinsurance Recoverables Gross
ReinsuranceRecoverablesGross
1400000 usd
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
37400000 usd
CY2022Q4 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
25500000 usd
CY2022Q4 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
11900000 usd
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
37427000 usd
CY2022Q4 hgty Loans And Leases Receivable Collateral For Secured Borrowings1
LoansAndLeasesReceivableCollateralForSecuredBorrowings1
75802000 usd
CY2022Q4 hgty Aggregate Loan To Value Ratio
AggregateLoanToValueRatio
0.494
CY2022Q4 hgty Aggregate Loan To Value Ratio
AggregateLoanToValueRatio
0.494
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
47112000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
49251000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
21856000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
20888000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
25256000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
28363000 usd
CY2022 us-gaap Depreciation
Depreciation
6600000 usd
CY2021 us-gaap Depreciation
Depreciation
6400000 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
10737000 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
187000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
3943000 usd
CY2022 us-gaap Sublease Income
SubleaseIncome
156000 usd
CY2022 us-gaap Lease Cost
LeaseCost
14711000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
82398000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7556000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
80772000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
88328000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
82398000 usd
CY2021 us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
4314000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y2M23D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.055
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
72800000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
12129000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
12206000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
11765000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
11176000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
10984000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
58530000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
116790000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
28462000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
88328000 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
9068000 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
8783000 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
8587000 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
8451000 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
7936000 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Rolling After Year Five
OperatingLeasesFutureMinimumPaymentsDueInRollingAfterYearFive
53940000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
96765000 usd
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
7400000 usd
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
4700000 usd
CY2021Q4 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
70385000 shares
CY2021Q4 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
703900000 usd
CY2021Q4 hgty Business Combination Cash Paid To Shareholders
BusinessCombinationCashPaidToShareholders
489700000 usd
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20005550 shares
CY2021Q4 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
41900000 usd
CY2021Q4 hgty Tax Receivable Agreement Tax Benefit Distributions To Noncontrolling Interest Holders Percent
TaxReceivableAgreementTaxBenefitDistributionsToNoncontrollingInterestHoldersPercent
0.85
CY2021Q4 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
85811000 usd
CY2021Q4 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
703850000 usd
CY2021Q4 hgty Payments For Acquisition Related Costs
PaymentsForAcquisitionRelatedCosts
41859000 usd
CY2021Q4 hgty Business Combination Cash Paid To Shareholders
BusinessCombinationCashPaidToShareholders
489661000 usd
CY2021Q4 hgty Proceeds From Business Combination Net
ProceedsFromBusinessCombinationNet
258141000 usd
CY2022 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
7000000 usd
CY2021 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
15400000 usd
CY2022 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
6100000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
11488000 usd
CY2020Q4 us-gaap Goodwill
Goodwill
4745000 usd
CY2022 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
103553000 usd
CY2021 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
6743000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
115041000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
11488000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
154911000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
106542000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
50887000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
30371000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
104024000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
76171000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
21800000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12800000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
29663000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
26714000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
17746000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
8671000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
3742000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
17488000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
104024000 usd
CY2022 us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">The following table presents the provision for unpaid losses and loss adjustment expenses at December 31, 2022 and 2021:</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:76.191%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.045%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.216%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.048%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2022</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2021</span></td></tr><tr style="height:3pt"><td colspan="3" style="border-top:0.75pt solid #ffffff;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:100%">in thousands</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Outstanding losses reported</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">65,981 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">38,207 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">IBNR</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">44,917 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">36,662 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:0.75pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Net reserves for unpaid losses and loss adjustment expenses</span></td><td style="background-color:#cceeff;border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:0.25pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">110,898 </span></td><td style="background-color:#cceeff;border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;border-top:0.25pt solid #000;padding:0 1pt"/><td style="background-color:#cceeff;border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:0.25pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">74,869 </span></td><td style="background-color:#cceeff;border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Reinsurance recoverables</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">843 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Gross reserves for unpaid losses and loss adjustment expenses</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">111,741 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">74,869 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">The following table presents a reconciliation of beginning and ending provision for unpaid losses and loss adjustment expenses, net of amounts recoverable from reinsurers:</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:32.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:42.858%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.045%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.216%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.048%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2022</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2021</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:100%">in thousands</span></td></tr><tr><td colspan="6" style="background-color:#cceeff;padding:2px 1pt;text-align:left;text-indent:-0.01pt;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Gross unpaid losses and loss adjustment expenses, beginning of year</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">74,869 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">54,988 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-0.01pt;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Less: Reinsurance recoverable</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:-0.01pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Net unpaid losses and loss adjustment expenses, beginning of the year </span></div></td><td style="background-color:#cceeff;border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:0.25pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">74,869 </span></td><td style="background-color:#cceeff;border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:0.25pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">54,988 </span></td><td style="background-color:#cceeff;border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Incurred losses and loss adjustment expenses:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="6" style="background-color:#cceeff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Current accident year</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">186,478 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">132,481 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Prior accident year </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:100%;position:relative;top:-3.85pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(4,076)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(10,401)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Total incurred losses and loss adjustment expenses</span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">182,402 </span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">122,080 </span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Payments:</span></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"/></tr><tr><td colspan="6" style="background-color:#cceeff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Current accident year</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">109,555 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">76,559 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Prior accident year</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">36,803 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">25,656 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Total payments</span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">146,358 </span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">102,215 </span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Effect of foreign currency rate changes</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(15)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">16 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-indent:-10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Net reserves for losses and loss adjustment expenses, end of year</span></div></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">110,898 </span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">74,869 </span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Reinsurance recoverables</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">843 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Gross reserves for losses and loss adjustment expenses, end of year</span></div></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">111,741 </span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">74,869 </span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:6pt"><td colspan="3" style="background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 17pt;text-indent:-10pt"/><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"/></tr></table></div><div style="padding-left:9pt;text-indent:-9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:100%;position:relative;top:-3.85pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">In both years presented, prior accident year development reflects lower than originally estimated incurred claims related to frequency and severity in accident years 2017 to 2021.</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">The following table presents a summary of total gross reserves for losses and loss adjustment expenses by line of business for the periods specified below:</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:76.191%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.045%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.216%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.048%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">December 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2022</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2021</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:100%">in thousands</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Auto</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">111,575 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">74,573 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Marine</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">166 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">296 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:0.75pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Total gross reserves for losses and loss adjustment expenses </span></div></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">111,741 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">74,869 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>
CY2022Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Reported Claims Amount
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseReportedClaimsAmount
65981000 usd
CY2021Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Reported Claims Amount
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseReportedClaimsAmount
38207000 usd
CY2022Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred But Not Reported Ibnr Claims Amount
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredButNotReportedIBNRClaimsAmount
44917000 usd
CY2021Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred But Not Reported Ibnr Claims Amount
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredButNotReportedIBNRClaimsAmount
36662000 usd
CY2022Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
110898000 usd
CY2021Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
74869000 usd
CY2022Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
843000 usd
CY2021Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
0 usd
CY2022Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
111741000 usd
CY2021Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
74869000 usd
CY2021Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
74869000 usd
CY2020Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
54988000 usd
CY2021Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
0 usd
CY2020Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
0 usd
CY2021Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
74869000 usd
CY2020Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
54988000 usd
CY2022 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
186478000 usd
CY2021 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
132481000 usd
CY2022 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-4076000 usd
CY2021 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-10401000 usd
CY2022 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
182402000 usd
CY2021 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
122080000 usd
CY2022 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
109555000 usd
CY2021 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
76559000 usd
CY2022 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
36803000 usd
CY2021 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
25656000 usd
CY2022 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
146358000 usd
CY2021 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
102215000 usd
CY2022 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Foreign Currency Translation Gain Loss
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseForeignCurrencyTranslationGainLoss
-15000 usd
CY2021 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Foreign Currency Translation Gain Loss
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseForeignCurrencyTranslationGainLoss
16000 usd
CY2022Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
110898000 usd
CY2021Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
74869000 usd
CY2022Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
843000 usd
CY2021Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
0 usd
CY2022Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
111741000 usd
CY2021Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
74869000 usd
CY2022Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
111741000 usd
CY2021Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
74869000 usd
CY2022 us-gaap Reinsurance Retention Excess Retention Amount Reinsured Per Event
ReinsuranceRetentionExcessRetentionAmountReinsuredPerEvent
21000000 usd
CY2022 hgty Reinsurance Retained Top And Aggregate Cover Percentage
ReinsuranceRetainedTopAndAggregateCoverPercentage
0.25
CY2022 hgty Reinsurance Retention Policy Total Insured Amount
ReinsuranceRetentionPolicyTotalInsuredAmount
5000000 usd
CY2022 us-gaap Reinsurance Retention Excess Retention Amount Reinsured Per Event
ReinsuranceRetentionExcessRetentionAmountReinsuredPerEvent
30000000 usd
CY2022 us-gaap Reinsurance Retention Amount Retained Per Event
ReinsuranceRetentionAmountRetainedPerEvent
9000000 usd
CY2022Q4 hgty Reinsurance Retention Policy Number Of Coverage Layers
ReinsuranceRetentionPolicyNumberOfCoverageLayers
1 letter_of_credit
CY2022 us-gaap Reinsurance Retention Amount Retained Per Event
ReinsuranceRetentionAmountRetainedPerEvent
9000000 usd
CY2022Q4 us-gaap Statutory Accounting Practices Statutory Amount Available For Dividend Payments Without Regulatory Approval
StatutoryAccountingPracticesStatutoryAmountAvailableForDividendPaymentsWithoutRegulatoryApproval
32900000 usd
CY2022Q4 us-gaap Statutory Accounting Practices Statutory Capital And Surplus Balance
StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance
131700000 usd
CY2021Q4 us-gaap Statutory Accounting Practices Statutory Capital And Surplus Balance
StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance
107300000 usd
CY2022 us-gaap Statutory Accounting Practices Statutory Net Income Amount
StatutoryAccountingPracticesStatutoryNetIncomeAmount
24400000 usd
CY2021 us-gaap Statutory Accounting Practices Statutory Net Income Amount
StatutoryAccountingPracticesStatutoryNetIncomeAmount
25200000 usd
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
4700000 usd
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1500000 usd
CY2022 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
12200000 usd
CY2021Q4 us-gaap Restructuring Reserve
RestructuringReserve
0 usd
CY2022 us-gaap Restructuring Charges
RestructuringCharges
18324000 usd
CY2022 us-gaap Payments For Restructuring
PaymentsForRestructuring
8854000 usd
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
9470000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
108280000 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
136500000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 usd
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