Cyber insurance company CFC is in the process of evaluating options including a potential UK listing at a valuation of more than £5bn ($6.74bn), reported the Financial Times.  

Owned by private equity firms EQT and Vitruvian Partners, CFC is in discussions with investment bankers over potential avenues such as a sale or an initial public offering (IPO).  

However, sources close to the matter have indicated that no definitive decisions have been made at this point. 

CFC, a London-based company specialising in cyber insurance, is also contemplating listing on alternative exchanges, including those in the US.  

These considerations are still in the preliminary stages, and any potential deal is not expected to materialise before the latter half of next year, the report said. 

The company, which was valued at just over £2.5bn following EQT and Vitruvian’s investment in 2021, operates as a managing general agent (MGA).  

Originally established as ClickForCover.com, CFC has diversified its offerings to include insurance products that protect companies against a wide array of risks such as medical malpractice and product recall.  

The group has recently completed a significant debt refinancing of $1.7bn and has developed an insurance service for small businesses involved in mergers and acquisitions. 

With an expansion into more than 20 specialist insurance classes, CFC now operates nine offices worldwide and employs more than 950 individuals.  

The company’s customer base has grown to approximately 150,000, as stated on its website. 

Last month, CFC appointed Nick Line as its new chief underwriting officer (CUO).  

Line will join CFC in 2026 following a 28-year tenure at Markel, where he has served as CUO since 2018.  

Line began working in the insurance industry in 1997, serving in roles such as chief actuary and CUO.