Private equity firms EQT and Vitruvian Partners are exploring strategic options for their investment in cyber insurer CFC, including a potential sale or initial public offering, according to a report by Bloomberg citing people familiar with the matter.
The owners have reportedly appointed Evercore and Goldman Sachs to advise on the process. A transaction could value London-based CFC at around £5bn, with London and New York both under consideration as possible listing venues. No final decision has been taken and there is no certainty that a deal will proceed.
The move comes amid increased deal activity in the UK insurance sector. Cyber-focused peers have attracted heightened interest from strategic and financial buyers, underscoring the sector’s resilience and growth prospects. Earlier this year, Beazley agreed to be acquired by Zurich Insurance Group, while specialty insurer Inigo was bought by Radian Group.
CFC was founded in 1999 an provides specialist insurance products including cybercrime, data breach, transaction liability and product recall cover, operating across multiple markets including Lloyd’s of London. EQT made a significant investment in CFC in 2022 alongside Vitruvian and the company’s management.
