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CFC branches out with Solution Underwriting deal

Cyber specialist CFC is expanding its reach in Australia with the acquisition of Melbourne-based Solution Underwriting.

CFC says Solution has more than 14 years’ experience in the local market, a broad broker distribution network and a long history of serving small and mid-sized businesses across the country.

“Australia is a fast-growing, dynamic market and we’re excited for the opportunity to continue investing in the region,” CFC Group CEO Louise O’Shea said. 

“The team at Solution are a great fit for CFC. They bring an established footprint and an entrepreneurial, innovative culture similar to our own. We look forward to working with them to accelerate our combined Australian business.” 

London-based CFC, which has been trading in Australia for more than two decades, will have five offices and nearly 100 staff locally following the Solution Underwriting deal, expected to be completed by the end of the month.

Solution also has offices in Sydney, Brisbane and Perth. The specialist agency focuses largely on financial lines products.

MD Rhys Mills says joining CFC will give Solution customers access to a suite of specialist insurance solutions backed by cutting-edge technology and a global team of experts.