Folgate Insurance Company Assigned BB+ A.M. Best Credit Rating
Recently, Folgate Insurance Company Limited were assigned a Long-Term Issuer Credit Rating (ICR) of BB+ and a Financial Strength Rating (FSR) of B (fair) from A.M Best, with outlook Stable.
This news follows Folgate’s recent announcement that, following its launch in December 2018, it will be co-insuring with A rated MS Amlin Lloyd’s syndicate.
Chief Executive Officer of Folgate, Brian Russell, said, “We are delighted to announce this important milestone, It has long been the ambition of the board to bring this 140 year established UK London based rated Insurer back to where it belongs and are looking forward to the future of Folgate Insurance Company.
“Now that this news has been announced, we can focus on our broker community by creating a stable offering based on their needs, and will look to further strengthen our rating over the next 24 months.”
Folgate Insurance Company Ltd went live this month and will be writing business from 1st January 2019.
About Folgate Insurance Company Ltd
Folgate Insurance Company Limited opened its doors for business in 1877. During its 140 years of trade the insurer wrote some major personal and commercial lines and occupied offices across the UK.
Folgate gives brokers access to classes such as Property, General & Professional Liability, Directors & Officers and Warranty.
Folgate also underwrites binding authorities through MGAs, independent brokers, and Lloyd’s coverholders.
The company currently operates from two UK locations and the Company’s head office is in the City of London.
Folgate is a UK Insurance Company regulated by the Prudential Regulation Authority (PRA) and authorised by the Financial Conduct Authority (FCA).
To find out more about Folgate Insurance Company Limited, please visit www.folgateltd.com