CFC bosses buy the business with new PE backer

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CFC's founder and chief executive David Walsh and the rest of the management team have agreed to buy the business with the support of Vitruvian Partners.

According to media reports the deal is worth £220m. 

The management team completed an MBO five years ago from Hyperion Insurance.

This latest deal sees a new private equity backer replace previous individual investors including Richard Corfield, ex-chairman of RK Harrison, Mike Rees, co-founder of Benfield and Hugh Willis, co-founder of BlueBay

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