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CFC Underwriting
CFC Underwriting was founded in 1999 by a group of Lloyd's underwriters who saw an opportunity to apply data-driven pricing to emerging risk classes.
CFC Underwriting
CFC Underwriting was founded in 1999 by a group of Lloyd's underwriters who saw an opportunity to apply data-driven pricing to emerging risk classes. The firm operates as a managing agent at Lloyd's, writing policies across cyber, professional indemnity, management liability, and financial institutions risks. Wealth was generated entirely through underwriting profit and equity buildup — no external capital injection from a wealthy family or institution. Strategy centers on proprietary technology: the firm's "CFC Gateway" platform enables brokers to obtain quotes, bind coverage, and manage policies in minutes. Asset-class mix is entirely insurance-linked — premiums written translate into float that is invested in highly liquid, low-risk portfolios. Confirmed coverage areas include cyber insurance (per CFC, 2023 annual report), professional indemnity, directors & officers liability, and property. Geographic footprint spans Europe, North America, Australia, and Asia, with direct underwriting in the UK, US, and Singapore. Dave Matcham became CEO in 2019, succeeding founder Paul Daly. The firm employs over 1,200 staff across offices in London, New York, Sydney, Singapore, Miami, and Brussels. In 2023, CFC was acquired by General Atlantic in a deal valuing the firm at over $2B — the first institutional capital in its history, signaling a shift from partnership to private-equity ownership. The firm maintains no separate philanthropic foundation; its charitable giving runs through the CFC Community Fund. CFC's structural differentiator is its technology-led underwriting model in a market still reliant on manual processes. The Gateway platform acts as both distribution channel and risk engine, allowing CFC to scale volume without proportional headcount growth. The 2023 General Atlantic acquisition provides capital for expansion into new lines and geographies, but the underwriting culture remains distinct from a typical PE-backed insurer.
General information
Firm type
Insurance
Year founded
1999
AUM
Undisclosed
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Additional offices
New York · Sydney · Singapore · Miami · Brussels
Principals
Dave Matcham
Chief Executive Officer
Graeme Newman
Chief Innovation Officer
Sector focus
Frequently asked questions
Who makes investment decisions at CFC Underwriting?
CEO Dave Matcham and the executive team, including Chief Innovation Officer Graeme Newman, set strategic direction. Underwriting decisions are decentralized across line-of-business teams using the firm's proprietary technology platform. The firm does not function as an asset manager but as an insurer, with premiums invested in predominantly liquid, fixed-income portfolios.
How does CFC Underwriting differentiate itself from traditional Lloyd's syndicates?
CFC's core differentiator is its proprietary Gateway platform, which enables real-time binding and policy management — a departure from the paper-intensive processes common at Lloyd's. This technology allows CFC to scale premium volumes with lower expense ratios, attracting brokers who value speed and consistency.
What insurance lines does CFC Underwriting focus on?
CFC specializes in cyber insurance (its largest line), professional indemnity, management liability (directors & officers), and financial institutions coverage. It has also expanded into property and accident & health in recent years, per public filings.
Who owned CFC Underwriting before the General Atlantic acquisition?
CFC was privately owned by its founding partners and management. The General Atlantic deal in 2023 was the first external institutional capital in the firm's 24-year history, with founders and employees retaining minority stakes under the new ownership structure.
Does CFC Underwriting operate globally?
Yes. CFC is headquartered in London but underwrites in over 100 countries via Lloyd's global licenses. Direct offices exist in New York, Sydney, Singapore, Miami, and Brussels, allowing local presence in key insurance markets (per CFC's website).
What is CFC Underwriting's relationship with Lloyd's of London?
CFC is a managing agent at Lloyd's, meaning it underwrites policies on behalf of Lloyd's syndicates. This structure provides access to Lloyd's global license network and ratings, while CFC retains the underwriting profit and controls the technology stack.
How does CFC Underwriting handle cyber risk assessment?
CFC's underwriting process relies on data from insurance applications and third-party threat intelligence integrated into its Gateway platform. The system applies proprietary algorithms to price risk, detect potential fraud, and monitor changing exposures in real time, per the firm's public descriptions.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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