Hadron, a leading US and international hybrid fronting carrier empowering specialty insurance underwriters, announced that AM Best granted its Group A- (Excellent) rating for Hadron's operating subsidiaries today, including Folgate Insurance Company Ltd. This A- rating falls within AM Best's Financial Size Category VIII, which includes companies with $100 $250 million in adjusted policyholders' surplus.
Founded in November 2023 with over $250 million in capital support from Altamont Capital Partners, Hadron efficiently expanded into the UK market earlier this year by acquiring Folgate Insurance Company Ltd (FICL). The company has quickly established itself as a gateway to elite services and robust risk capital for Managing General Agents (MGAs), Managing General Underwriters (MGUs), and Program Administrators, targeting small and medium-sized enterprises (SMEs) and lower middle-market commercial insureds across a broad range of monoline and packaged products. Hadron's model addresses the current challenges in the MGA market with unparalleled efficiency and best-in-class support, backed by highly rated reinsurance counterparties and high-quality capital partners.
"We are delighted with the early momentum we have achieved and the high-quality talent we have attracted to our platform," said Sam Reeder, CEO. "Hadron is well capitalized and committed to serving the needs of specialty MGAs and our reinsurance partners, providing them the data integrity, efficiency, and underwriting acumen they are looking for."
Hadron currently consists of its core insurance subsidiaries, Hadron Specialty Insurance Company (HSIC), a 50-state eligible E&S carrier domiciled in Arkansas, and Folgate Insurance Company Limited (FICL), based in the UK.
The recent ratings actions from AM Best reflect Hadron's strength and strategic direction. Folgate Insurance Company Limited has seen its Financial Strength Rating (FSR) upgraded to A- (Excellent) from B (Fair) and its Long-Term Issuer Credit Rating (Long-Term ICR) upgraded to "a-" (Excellent) from "bb+" (Fair), both with a stable outlook. Concurrently, Hadron Specialty Insurance Company (Little Rock, AR) had its FSR and Long-Term ICR affirmed at A- (Excellent), with a stable outlook.
These ratings will continue to drive the momentum of Hadron's differentiated and diverse portfolio of insurance partners across the US and UK, enabling insurance specialists to provide innovative products and transact efficiently in the marketplace.
About Hadron Insurance
Hadron is comprised of Hadron Specialty Insurance Company, an Arkansas-domiciled E&S carrier, and Folgate Insurance Company Limited (to be renamed Hadron UK Insurance Company Limited), which is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority with Firm Reference Number 202146.? The entities are rated A- (Excellent) from AM Best in Financial Size VIII. These insurance carriers provide insurance capacity to select MGUs to source specialty insurance coverage. The business model has been designed to improve the efficiency of the value chain and address the significant challenges facing MGUs, facilitating their success. For more information, please visit www.hadroninsurance.com.
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Contacts:
Chelsea Allison
chelsea@cmand.co
CMAND for Hadron Insurance
