US insurer Hadron enters UK market with Folgate takeover

Brexit US overlap

Hybrid carrier Hadron, which launched in 2023, has bought Folgate Insurance Company for an undisclosed sum.

Hadron was set up in the fourth quarter backed by over $250m (£197.5m) in capital from Altamont and other institutional investors. It provides capacity and reinsurance services to managing general underwriters of specialty insurance.

APC Underwriting bought Folgate for £1.9m in 2014 from Towergate, with the insurer having been in run-off since 2002.

In 2018, the Prudential Regulation Authority approved Folgate to start writing new business again. Its 2019 return to the market included teaming up

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