MGA targets PI expansion as new long-term capacity deal agreed

Folgate Underwriting Agency has secured new long-term primary and excess capacity led by International General Insurance Company UK.

The capacity will support the firm’s professional indemnity (PI) book and marks a further step in the MGA’s strategic expansion in the class.

Folgate Underwriting Agency said the arrangement will provide dedicated capacity across both primary and excess layers, giving it greater stability as it looks to grow its PI portfolio in a competitive UK market.

The move follows recent senior hires at the MGA, including Debbie Farman as head of renewals and Mathew Harvey as head of PI.

Ian Russell, chief executive at Folgate Underwriting Agency, said: “This agreement represents a major milestone for Folgate.

”The support from IGI provides the scale and stability we need to accelerate our planned underwriting growth while maintaining firm underwriting discipline and delivering consistent, sustainable value to brokers and their clients.

“This partnership reinforces Folgate’s commitment to innovation, scale and excellence in the underwriting market.”

Broker support

The MGA has operated in the UK market since 1993 and underwrites commercial lines business for brokers. Its portfolio includes property, general liability, professional liability and excess of loss classes.

Folgate said the IGI-led partnership would also support its ability to offer brokers long-term certainty while maintaining underwriting discipline as it develops its PI offering.