CFC
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This publication revealed in April that Evercore had been retained to run a process for the cyber-focused MGA.
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The new CEO identified cyber reinsurance as an area where the carrier could look to grow in a core class.
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The management change follows a period of major expansion for the business, which has launched its own syndicate.
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The Canadian pension fund and the ILS fund provide Funds at Lloyd’s capital alongside traditional reinsurers.
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With ILS and pension fund money now confirmed for Syndicate 1988, there are further observations for the vehicle launch.
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The London MGA is launching a Lloyd’s vehicle to take on a share of the business that it writes.
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Through five promotions, the carrier has introduced a new layer of management to support its growth plans.
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Aon-Willis, CFC's new Lloyd's syndicate, Talbot's contingency retreat and more.
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The launch marks the next logical move for the MGA, but has wider ramifications for Lloyd’s and the MGA market.
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The MGA will put some of its own capital behind the new syndicate, which will assume 20% of the risk from across its portfolio.
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The MGA aims to improve its cyber claims and incident response abilities through the deal.
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Ben Atkins heads for the Catlin-Brand start-up, while terrorism underwriter Harry Salmon joins IGI.
