Folgate assigned BB+ rating by A.M. Best

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Folgate Insurance Company has been assigned a financial strength rating (FSR) of B (Fair) and a long-term issuer credit rating (long-term ICR) of “BB+” by A.M. Best.

The ratings service noted that the outlook assigned to the credit ratings is stable.

Earlier this week Folgate revealed it would launch in December and that it had entered a partnership with MS Amlin starting on 1 January 2019.

According to A.M. Best, the ratings reflect Folgate’s balance sheet strength, which it categorised as

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