CFC

The appointment comes in the wake of a major private equity deal for CFC, and the launch of a Lloyd’s syndicate.

The new team now counts 15 underwriters working with 1,600 brokers across 80 countries to reach more than 6,000 clients.

The contingency book was skewed towards prize indemnity and over redemption, representing less than 1% of CFC’s business.

Claims data points to a lower average cost of claim per claimant for a systemic event compared with attritional or non-systemic claims, according to head of cyber James Burns.

In an interview, group CEO David Walsh and CEO Graeme Newman discussed securing growth, technology and the importance of capital optionality following CFC’s most recent PE buy in.

The new London Bridge framework is less useful to the bulk of specialist ILS asset managers than it is end investors.

The record-breaking deal valued CFC at more than £2.5bn, equivalent to in excess of 40x Ebitda.

CFC group CEO David Walsh has said his firm will not need to pursue inorganic growth via M&A with the additional firepower secured with the MGA’s buy-in deal with private equity houses EQT and Vitruvian.

Insurance Insider revealed yesterday the capital injection had valued the business at over £2.5bn ($3.5bn).

The valuation represents a sector-leading multiple of in excess of 40x Ebitda.

This publication revealed in April that Evercore had been retained to run a process for the cyber-focused MGA.

The new CEO identified cyber reinsurance as an area where the carrier could look to grow in a core class.