November 19, 2018
MS Amlin has entered into a co-insurance deal with Folgate Insurance Company as the UK insurer prepares to relaunch and underwrite live business once again.
As part of the partnership, the Lloyd’s carrier will provide paper for Folgate’s property, liability, professional indemnity and other lines of business throughout the UK from 1 January 2019.
Folgate’s managing agent, APC, will facilitate the underwriting to ensure its panel of supporting brokers continue to get the service they need.
Folgate is set to relaunch in December and begin writing business from 1 January 2019, after it received regulatory approval from the Prudential Regulation Authority to recommence writing primary insurance and reinsurance business in the UK earlier this year.
Folgate is owned by MGA APC Underwriting, which acquired the UK insurer in 2014 after it was put into run-off by its former owner, Towergate, in 2002. Folgate was originally established in 1877.
Once relaunched, the UK insurer will give brokers access to classes such as property, general and professional liability, directors & officers and warranty. It also underwrites binding authorities through managing general agents, independent brokers, and Lloyd’s coverholders.
Folgate chief underwriting officer Ian Russell said: “We are absolutely delighted to relaunch Folgate into the UK market with a partner as strong as MS Amlin. 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 MGAs in the UK during 2019.”
Richard Coxon, head of underwriting for UK P&C at MS Amlin, commented: “We are incredibly pleased to be partnering with a long-established insurer like Folgate Insurance Company and we are very proud to be a part of the launch.
“We believe that the combined experience and expertise of MS Amlin, Folgate and APC will result in a very strong offering for the broker market.”