APC’s Russell hails Folgate’s market return

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APC Underwriting CEO Brian Russell has revealed that it was always the intention to revive Folgate as an active insurer.

“It has been the plan since we bought Folgate to get authorised as a primary insurer.”

APC, which is an MGA, bought Folgate from Towergate in 2014 in a deal valued at £1.9m. Folgate had been in run-off since 2002.

It was announced today (27 June) that the move to reactivate Folgate as a live insurer was approved by the Prudential Regulation Authority last month.

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