MS Amlin partners with Folgate for 2019 UK re-launch
UK-based Folgate Insurance Company has partnered with re/insurer MS Amlin to underwrite its business for 2019.
Folgate will re-start underwriting business in January 2019 after having received approval from the Prudential Regulation Authority (PRA) for writing primary insurance and reinsurance business.
All the business written through Folgate will be underwritten by managing agent APC Underwriting, in a similar setup to a Lloyd’s syndicate. Folgate was acquired by APC in 2014 after the UK insurer was put into run-off by its former owner Towergate in 2002.
Together, the companies will be writing property, liability, professional indemnity and other lines of business throughout the UK from next year.
“We are absolutely delighted to re-launch Folgate into the UK market with a partner as strong as MS Amlin," said Ian Russell, chief underwriting officer of Folgate. "This is the start of moving Folgate back to where it once was. There have been recent signs that the market is turning, especially in London, therefore this new partnership could be valuable for a lot of brokers and MGA’s in the UK during 2019.”
Richard Coxon, head of underwriting – P&C UK at MS Amlin, added: “Partnering with a UK Insurer established in 1877 was an attractive offering to say the least and we are very much looking to being part of the Folgate launch. If you combine the Underwriting expertise, strength and knowledge of the UK from APC, MS Amlin and Folgate, you have a very strong offering to the UK broker market.”
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