Hadron has announced its expansion into the UK market with the acquisition of Folgate Insurance Company Limited.

Sam Gaynor, managing director of Altamont Capital, Hadron’s equity sponsor, said: “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.”

The acquisition of Folgate expands Hadron’s footprint from 50 US states into the UK. Hadron works with MGU specialists and risk capital providers to offer flexible capacity and reinsurance services through what it describes as optimal, efficient structures that support both rapid paths to market and long-term stability.

Ian Russell, CEO and CUO at Folgate, said: “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.”

Hadron says its strategy aims to address what it sees as a number of deficiencies in the worldwide hybrid insurance model, such as poor service, substandard data and technological efficiency, limited value-add to its program partners, and slow speed to market.