Hadron Specialty enters the UK market

Hadron Insurance, a hybrid carrier offering capacity and fronting services, announced its expansion into the UK market with the acquisition of Folgate Insurance Company Limited.

Folgate, an insurer established in 1877, was placed into run-off in 2002.

Last year, Hadron announced its official launch with more than $250 million in capital support from Altamont and other institutional investors.

“Hadron’s entry into the UK is a testament to the impactful global approach Hadron has developed to enable the success of its specialty MGU partners. We are delighted to build on Folgate’s centuries-long history as we marry best-in-class underwriting and portfolio management technology with reliable, long-term insurance capacity to address the pain points of specialty underwriting firms.” – Sam Gaynor, managing director of Altamont Capital.

“Folgate was established in 1887 and has continuously stood out as a well-run and capitalized insurance entity. I couldn’t be more delighted about our bright future with Hadron and look forward to working with its team to serve the specialty MGU market in the UK.” – Ian Russell, CEO & chief underwriting officer of Folgate.