The MGA’s current chief executive Dave Walsh will become group chief executive in turn

Cyber-centric MGA CFC Underwriting has promoted its chief innovation officer Graeme Newman to chief executive, as current boss Dave Walsh moves into a group chief executive role, effective immediately.

In his new role, Newman will lead all aspects of CFC’s underwriting business based in London, including the company’s growing data, technology and operations functions.

Walsh, meanwhile, will take responsibility for operations across CFC’s global offices.

The positions are subject to regulatory approval.

Walsh described the announced appointments as “a natural progression”.

He continued: “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.

“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.’

Ambitious road map

Over the past three years, CFC has more than doubled its headcount – it now has more than 500 staff across five global offices, who support over 100,000 customers in 90 different countries.

This has been achieved through growing CFC’s existing teams, as well as through acquisitions in the UK, United States and Australia.

CFC also launched its own syndicate – Syndicate 1988 – in April 2021.

Newman said: “It is an incredibly exciting time at CFC as we embark on an ambitious, technology-driven road map.

“It’s a privilege to continue serving CFC as its new [chief executive] and I look forward to working closely with the team to achieve our goals.”