Folgate assigned BB+ rating by A.M. Best
Decision comes as the insurer gears up for UK market return in December.
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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