Hadron acquires London-based insurer

Hadron Specialty Insurance Co. said Thursday it has expanded into the U.K. market with the acquisition of Folgate Insurance Co. Ltd.

Terms of the transaction were not disclosed.

Established in 1887, London-based Folgate offers property, general liability and professional liability coverage.

Alpharetta, Georgia-based Hadron launched last year backed by $250 million in capital from Altamont Capital Management LP and other investors. It provides capacity and fronting services to managing general underwriters.