Specialist insurer CFC, backed by private equity giants EQT and Vitruvian Partners, is reportedly considering a UK initial public offering that could value the business north of £5bn ($6.7bn), according to a report by Reuters.
Sources familiar with the discussions say that CFC is also weighing alternative routes, including a potential US listing or a full sale. However, talks remain at an early stage, with any transaction unlikely before H2 2026.
CFC declined to comment on the speculation.
The London-headquartered insurer, founded in 1999 initially as a cyber insurance provider, now covers over 20 specialist insurance segments and employs more than 950 staff across nine global offices, servicing some 150,000 clients.
Private equity backers EQT and Vitruvian made a substantial investment in CFC in 2021, valuing the company at over £2.5bn at that time.
A CFC listing could provide a much-needed boost to London’s IPO landscape, which has seen a number of high-profile delistings and listings abroad in recent years – fast-fashion giant Shein being the latest to abandon the UK market.
The UK government has sought to revitalise London as a capital raising hub, implementing significant reforms to listing rules in 2024 aimed at attracting more companies to float on domestic markets.
