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

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 copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

April leaders on moving into UK with Lexham buy

Moving into the UK with the purchase of Lexham is part of a plan to build Europe’s premier two-wheels specialist broker, rather than the start of a buying frenzy as a new consolidator, April Group leaders have confirmed.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: