Folgate rating upgraded after Hadron deal
AM Best has upgraded the Financial Strength Rating of Folgate Insurance following its acquisition by US hybrid carrier Hadron.
The ratings agency boosted Folgate to A- (excellent) from B (fair) and the long-term issuer credit rating (long-term ICR) to ‘a-‘ (excellent) from ‘bb+’ (fair) in light of the deal announced in February.
It had placed the ratings under review with positive implications after the takeover.
The outlook assigned to these credit ratings is now ‘stable’, AM Best continued, adding: “The ratings reflect Hadron group’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Are new regional insurer offices the silver bullet to improve broker service?
- RSA expects new business “clunkiness” to ease from July as it continues NIG integration
- In Depth: Cyber risk and AI – friend or foe?