Latest news with #CFC
Daily Mail
20 hours ago
- Business
- Daily Mail
Private equity-backed insurance firm CFC eyes City float
Private equity-backed insurer CFC is eyeing a £5billion London listing – lifting a market which has suffered a mass exodus. The firm, owned by EQT and Vitruvian Partners, is said to be in talks with bankers over options, which could include a sale or an initial public offering. There have been just nine listings in London this year. Three were on the main market and six on AIM. The listings raised just £182.8m – a 64 per cent drop from the same period a year ago, according to analysts. CFC, a cyber security insurance specialist, was bought by Swedish giant EQT and investment firm Vitruvian for £2.5billion in 2021. A London float is being considered, according to the Financial Times, with rival New York also on the table. Talks are in the early stages, say reports.
Zawya
a day ago
- Business
- Zawya
Insurer CFC mulls $6.5bln-plus London listing, FT reports
Specialist insurance provider CFC, backed by private equity firms EQT and Vitruvian Partners, is exploring a UK listing that could value the firm at more than 5 billion pounds ($6.71 billion), the Financial Times reported on Friday. The insurer is also considering other options, including a listing in the U.S. or even a sale, the report said, citing people familiar with the matter. Discussions are still in early stages, and any deal was unlikely before the second half of 2026, they added. CFC declined to comment on the report. The two European private equity firms made a "significant" investment in CFC in 2021, valuing the London-based firm at more than 2.5 billion pounds at the time. Founded in 1999 as a cyber insurance provider, CFC has since expanded into more than 20 specialist insurance classes, its website said. The firm operates nine offices globally, with more than 950 employees serving roughly 150,000 customers. CFC's listing could breathe fresh life into London's IPO market, which has been hit by a string of delistings and IPO departures in recent years, with fast-fashion major Shein being the latest to walk away. The UK has been trying to make London a more attractive destination for companies to list and raise funds, and has made major changes to its listing rules last year. ($1 = 0.7448 pounds) (Reporting by Kanjyik Ghosh in Bengaluru; Editing by Sumana Nandy and Rashmi Aich)
Reuters
a day ago
- Business
- Reuters
Insurer CFC mulls $6.5 billion-plus London listing, FT reports
July 18 (Reuters) - Specialist insurance provider CFC, backed by private equity firms EQT ( opens new tab and Vitruvian Partners, is exploring a UK listing that could value the firm at more than 5 billion pounds ($6.71 billion), the Financial Times reported on Friday. The insurer is also considering other options, including a listing in the U.S. or even a sale, the report said, citing people familiar with the matter. Discussions are still in early stages, and any deal was unlikely before the second half of 2026, they added. CFC did not immediately respond to a Reuters request for comment. The two European private equity firms made a "significant" investment in CFC in 2021, valuing the London-based firm at more than 2.5 billion pounds at the time. Founded in 1999 as a cyber insurance provider, CFC has since expanded into more than 20 specialist insurance classes, its website said. The firm operates nine offices globally, with more than 950 employees serving roughly 150,000 customers. CFC's listing could breathe fresh life into London's IPO market, which has been hit by a string of delistings and IPO departures in recent years, with fast-fashion major Shein being the latest to walk away. The UK has been trying to make London a more attractive destination for companies to list and raise funds, and has made major changes to its listing rules last year. ($1 = 0.7448 pounds)
Reuters
2 days ago
- Business
- Reuters
Insurer CFC weighs over $6.5 billion London listing, FT reports
July 18 (Reuters) - European private-equity firms EQT ( opens new tab and Vitruvian Partners-backed specialist insurance provider CFC is considering a UK listing that could value the firm at more than 5 billion pounds ($6.71 billion), the Financial Times reported on Friday. ($1 = 0.7448 pounds)
Time of India
2 days ago
- Sport
- Time of India
With ISL future in doldrums, Chennaiyin FC sack coach Owen Coyle
Owen Coyle CHENNAI: There is no clarity yet when the next edition of the Indian Super League will start, forcing two-time champions Chennaiyin FC to go into a cost-cutting mode. After letting go of quite a few prominent players, CFC have now terminated the contract of their highly-paid head coach Owen Coyle. Coyle, whose contract was extended by a year in October and was due to expire at the end of the upcoming season, was shown the door after he failed to replicate his ISL Season 6 heroics at the club. CFC agreed to pay a compensation fee – more than half of his per-season value – to Coyle since the Scotsman had a year left on his deal. 'Chennaiyin and Coyle decided to part ways after finding a middle ground,' a source told TOI on Thursday. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai The uncertainty surrounding the ISL played a part in CFC's decision. 'The club is unsure about what is going to happen to the league. Keeping that in mind, Chennaiyin did not want to have a high-value coach on their payroll,' said the source. CFC will begin their hunt for a new chief coach only when there is clarity over the upcoming ISL season. It has been learnt that the top brass decided to bite the bullet after taking into consideration the team's poor performances across competitions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This New AC Cooler Cools the Room In Seconds Coldeez Cooling Ace Undo Chennaiyin did not even come close to qualifying for the playoffs in the last ISL, finishing a lowly 11th with just 27 points from 24 matches. In the season-ending Super Cup, a knockout tournament that offered a continental spot, CFC crashed out in the first round following a 0-4 thrashing at the hands of a depleted Mumbai City FC side. Credited with developing young Indian players in the past, Coyle struggled to extract the best out of youngsters in his second spell at Chennaiyin. Despite being backed during the transfer windows with the signings of Kiyan Nassiri, Gurkirat Singh and Lalrinliana Hnamte among others, the Scottish coach did not inspire much. At the end of last season, Coyle was optimistic about staying at the club. 'Why would I not intend to be the coach when I have a contract? As far as I am led to believe, I will be the Chennaiyin coach next season,' Coyle said in a post-match interaction. In the 2023-24 season, Coyle had achieved the club's primary objective of making it to the ISL top-six. CFC play waiting game for next season: Like some of their ISL rivals, Chennaiyin are playing the waiting game. 'We do not know whether the ISL will happen or not. We would have had to spend approximately Rs 70 lakh if we had confirmed our participation in the Durand Cup. Even if we assemble a squad, what are we supposed to do with it? We do not even have a local league where we can engage our players,' said a CFC official.
