CFC announces major PE investment

CFC has today announced a major investment from European private equity firms, EQT and Vitruvian Partners.

Founded in 1999, CFC now writes 50 products across 20 different classes of specialist insurance serving more than 100,000 businesses in over 90 countries. The underwriter has an annual premium run rate in excess of £750m and delivered an EBITDA CAGR of 35% over the last five years.

Dave Walsh (pictured), CFC founder and group CEO, said: “We’re delighted to welcome EQT as an investor alongside Vitruvian. Both EQT and Vitruvian’s focus on high-growth technology companies and commitment to creating a positive impact through their portfolios is a natural fit with CFC and our ethos as an independent, employee-owned business. EQT’s investment, and Vitruvian’s reinvestment, is testament to CFC’s track record of delivering strong, profitable growth underpinned by the expertise of our people and our history of market-leading technology innovation.

“As we look ahead, we see a risk landscape that is rapidly shifting, with ever-expanding cyber threats, new insurance challenges presented by intangible assets and evolving risks in rapid growth sectors. CFC has a key role to play in helping our growing customer base address these challenges, while the pioneering technology we’ve built over the last two decades is enabling us to deliver at increasing scale. We look forward to partnering with EQT and thank Vitruvian for their continued partnership. It has never been a more exciting time to be at CFC.”

Robert Maclean, partner at EQT, added: “CFC is a truly innovative insurance business with technology at its core and a track record of growth and profitability which surpasses even the most mature fintech businesses we’ve seen. The accelerating pace of investment in its core platform aligns perfectly with EQT’s approach of future-proofing companies.”

Following regulatory approval, CFC will nearly double its employee shareholders from 175 to over 300. Employees will remain the largest shareholding block in CFC.

    Share Story:

Recent Stories


Cyber physical risks
Property damage as a consequence of cyber attack is often excluded from standard property policies, but as the industrial internet of things expands, so too do the risks. This podcast examines the evolving threat landscape. Published October 2021

Financial institutions were early adopters of cyber security and insurance. Are they still on top of the game?
Managing huge amounts of sensitive data online makes financial institutions a prime target for hackers. As such, the sector was an early cohort for insurers in creating cyber cover. Since then, the market has evolved almost beyond recognition. It continues to challenge itself to this day, complying with rigorous regulatory demands and implementing avant-garde enhancements to keep abreast of the ever-changing risks. Published June 2021

Advertisement