Folgate assigned rating ahead of relaunch

ratings87

Folgate, which will relaunch as an insurer next month, was assigned a financial strength rating of B from AM Best.

The business, which will partner with A-rated Amlin to write a £35m book in its first year, also received a long-term issuer credit rating of BB+ and an outlook of stable.

It follows the acquisition of Folgate from Towergate in 2014, by APC Underwriting. The relaunch will see Folgate become the risk bearing-entity for the business written by APC.

Folgate CEO Brian Russell said the rating was a “milestone” for the company.     

He added: “It has long been the ambition of the board to bring this 140 year established UK London-based insurer back to where it belongs.

“Now that this news has been announced, we can focus on our broker community by creating a stable offering based on their needs. We will look to further strengthen our rating over the next 24 months.”

Folgate Insurance Company Ltd will be going live in December and writing business from 1 January 2019.

  • LinkedIn  
  • Save this article
  • Print this page  

You need to sign in to use this feature. If you don’t have an Insurance Post account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: