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US insurer Hadron enters UK market with Folgate takeover
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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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