Folgate to start writing business again
The Folgate business will be underwritten by its owner APC Underwriting.
Folgate has received approval from the Prudential Regulation Authority (PRA) to start writing primary insurance again.
The insurer, bought by APC Underwriting for £1.9m from Towergate in 2014, had been in run-off since 2002 but gained approval last month to activate for new business.
Much of the business APC currently does will move to Folgate over the course of the next two years.
APC will remain as an managing general agent (MGA) and continue to offer its services as a Lloyd’s broker
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