CFC, the London-based specialist MGA, announced the appointment of Adam Winslow as group chief executive officer.
The current Group CEO Louise O’Shea, who has served for nearly six years, first as indepen
dent non-executive and latterly as CEO, will be stepping down but will remain a significant shareholder in the business.
Prior to joining CFC, Winslow was group CEO of Direct Line Group, where he improved profitability as well as led the company through its £3.7 billion combination
with Aviva, creating a major player in the UK insurance market.
Before Direct Line Group, Winslow was CEO of Aviva’s UK and Ireland General Insurance business, where he accelerated growth and strengthened financial go
vernance. His deep insurance expertise and strong execution focus will help CFC to accelerate its strategy, strengthen market leadership and capitalise on the next phase of growth.
Winslow succeeds Louise O’Shea, who stepped in at an important time for the business and under whose leadership the company has gone from strength to strength
, the company said, explaining that O’Shea “built a world-class senior leadership team, enhanced and deepened CFC’s unique culture, implemented a scalable global
operating model and delivered significant product innovation, all
while achieving exceptional financial performance.”
Winslow’s appointment follows a rigorous succession process overseen by the board and O’Shea and he will join the business during the summer, subject
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to regulatory approval. In the interim, Andy Holmes, group capacity director and a 23-year veteran of th
e business, will serve as acting CEO to facilitate a seamless transition.
“The appointment of Adam as CEO comes at an exciting time for CFC as it looks to further accelerate global growth while unlocking the significant potential
of AI across its operations,” commented John Howard, chairman of CFC. “Adam brings more than 2
0 years of leadership experience and a strong track record of delivering results in both public and private environments.
Howard went on to thank O’Shea “for her significant contribution to CFC and the progress made under her leadership.”
“CFC is one of the genuine success stories of the specialty market — a business with a distinctive model, an exceptional team and real momentum. That’s what
attracted me, and it’s why I’m delighted to be joining,” said Winslow in a statement.
Insurance premiums in the niche corner of the insurance market that protects vessels against war risks surged as a result of the conflict. While that can mean some
vessels are paying more than a million dollars a voyage to enter or exit the Strait of Hormuz, those revenues take a hit when there are a significant number of incidents. In the earlies days of the war, there were attacks on ships almost every day.
