Specialist insurance provider CFC has acquired managing general agent (MGA) Solution Underwriting to expand its presence in Australia.
Based in Melbourne, Solution is a specialist insurance underwriter that focuses on financial lines insurance products.
The company has a broad broker distribution network and specialises in serving small and midsize businesses.
With more than 20 years of trading experience in Australia, CFC established its first office in the country in 2021 with the acquisition of Insane Technologies.
Following this latest move, CFC will have five local offices and nearly 100 staff in Australia.
Louise O’Shea, CFC Group CEO, comments: “Australia is a fast-growing, dynamic market, and we’re excited for the opportunity to continue investing in the region.
“The team at Solution is a great fit for CFC – they bring an established footprint and an entrepreneurial, innovative culture similar to our own.”
Rhys Mills, managing director of Solution Underwriting, says: “CFC is an innovative insurance business with a strong reputation in Australia and abroad.
[We expect] to deliver our customers access to a broad suite of specialist insurance solutions backed by cutting-edge technology and a global team of experts.”
