CFC Underwriting, the London-based specialist managing general agent, announced that Chief Innovation Office Graeme Newman has been appointed as the company’s new CEO. Founder and current CEO, Dave Walsh, will assume the role of group CEO effective immediately, subject to regulatory approval.

As CEO, Newman will lead all aspects of CFC’s underwriting business based in London, including the company’s growing data, technology and operations functions. As group CEO, Walsh will oversee operations for CFC’s global offices.

“Over the past 13 years, Graeme has been the driving force behind one of our core product lines – cyber – and has overseen the expansion of our cutting-edge technology platform, among his many other valuable contributions,” commented Walsh. “This appointment is a natural progression for both Graeme and for CFC and we couldn’t be more excited about the future of the business under his leadership.”

CFC has more than doubled its headcount over the last three years through the growth of its existing teams as well as acquisitions in the UK, United States and Australia. The business employs more than 500 staff across five global offices and supports over 100,000 customers in 90 countries. CFC also launched its own Lloyd’s syndicate, Syndicate 1988, in April of this year.

“It is an incredibly exciting time at CFC as we embark on an ambitious, technology-driven roadmap,” said Newman. “It’s a privilege to continue serving CFC as its new CEO, and I look forward to working closely with the team to achieve our goals.”

The company in May announced the creation of a new senior underwriting team to support the company’s growth plans.

The five new appointments were:

• Tim Boyce, head of Professions and Healthcare
• Michael Brunero, head of Tech, Media & Intellectual Property
• James Burns, head of Cyber
• Kate Lyes, head of Specialty Lines
• Gus Marshall, head of Transaction Liability

Wayne Harrington, who joined CFC as head of Property and Casualty three years ago, also is part of this new senior underwriting management team.

Source: CFC Underwriting

*This story ran previously in our sister publication Insurance Journal