Folgate Underwriting Agency Limited (FUAL) has completed a new capacity agreement led by International General Insurance Company (UK) Ltd (IGI), securing dedicated primary and excess capacity for its professional indemnity (PI) portfolio.
The arrangement strengthens FUAL's underwriting platform and supports its ambition to expand selectively in a PI market shaped by claims inflation, regulatory scrutiny and emerging professional exposures.
Chief executive Ian Russell said the agreement with IGI provides the scale and stability needed to accelerate growth. He added that the partnership supports FUAL’s service-led proposition for brokers, underpinned by consistent capacity and sustainable outcomes.
"This agreement represents a major milestone for FUAL. This partnership reinforces FUAL's commitment to innovation, scale and excellence in the underwriting market," Russell said.
Pursuing measured growth
According to FUAL, the agreement will position it to balance expansion ambitions with underwriting fundamentals and highlights the increasing importance of capacity partnerships in supporting specialist insurance propositions.
FUAL’s strengthened capacity follows key internal appointments, including Debbie Farman as head of PI renewals and Mathew Harvey as head of PI. Both bring extensive experience across the UK PI market and will be pivotal in managing renewal performance, developing underwriting strategy, and ensuring the portfolio aligns with current market conditions.
For managing general agents, access to consistent and flexible capacity is increasingly critical, as brokers demand continuity and certainty for clients with complex or high-value exposures. This is particularly relevant in sectors such as IT, media, and professional services, where liability can arise from emerging risks like cyber incidents, regulatory fines, or errors in advice.
A highly competitive market
Insurers are now seeing moderation in some PI lines following sustained rate increases in sectors such as construction, financial services and technology. However, claims frequency and severity continue to drive cautious underwriting. Regulatory developments, including the Financial Conduct Authority's Consumer Duty, have heightened focus on risk management and claims handling, particularly in advice and professional service sectors.
For managing general agents, access to consistent and flexible capacity is critical, as brokers seek continuity for clients with complex or high-value exposures.
