CFC, the global specialist cyber insurance provider, has appointed Louise O’Shea as its new Chief Executive Officer, subject to FCA approval.
The news follows the completion of an investigation by Lloyd’s into allegations of non-financial misconduct at the company, concluding with the leaving of David Walsh (Group CEO) in January 2024.
Graeme Newman will also step down as CEO of CFC Underwriting and leave the business in April 2024.
Prior to this, O’Shea was an Independent Non-Executive Director at CFC and was CEO of Confused.com until March 2023.
Andy Holmes will be promoted to the role of CEO of CFC Underwriting, subject to FCA approval, from his previous position of Chief Underwriting Officer.
Holmes has served in the business for over 20 years and will be supported by Dan Trueman, who joins CFC as CUO on 1 January 2024 after previously serving as Global Head of Cyber at AXIS Insurance.
CFC stated that it acknowledges there have been failings and is taking a number of steps to strengthen its policies and procedures and further invest in its culture and people.
The company will also be appointing a new Chief People Officer.
