Former Towergate-owned Folgate returns to underwriting
Run-off insurance company to open for business again following purchase by APC Underwriting last year.
Folgate Insurance Company has returned to active underwriting in the UK a year after being purchased by APC Underwriting.
Towergate sold Folgate to managing general agent (MGA) APC for £1.9m in August 2014. The run-off insurance company had ceased writing business on 30 June 2002.
According to APC, the Financial Conduct Authority has granted approval for Folgate to begin underwriting on a quota share basis in conjunction with a Lloyd's syndicate and its combined £30m of capacity will support APC
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