Towergate sells Folgate to MGA APC
APC Underwriting mulls underwriting return for Folgate after acquiring the run-off insurance company.
Towergate has sold Folgate Insurance Company to APC Underwriting for an undisclosed sum.
Folgate is a run-off insurance company that was established in 1877 and ceased writing business on 30 June 2002. Since then Towergate has administered the run-off of the business, principally household, motor, commercial (including employers' liability) and travel policies. The run-off will now be administered by APC.
APC said has also commenced discussions with the UK regulators with the aim of returning
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