US insurer Hadron enters UK market with Folgate takeover
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
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Aviva to open branches in Chelmsford and Southampton
- Dual to open two UK offices as McGinn’s regional push gathers pace