Specialist insurance provider CFC has named Dr. Richard Ward its new non-executive chairman, subject to regulatory approval.
Dr. Ward boasts a long and distinguished career in insurance and the London market, including spending a great deal of time with Lloyd's of London, where he was the chief executive officer (CEO) from 2006 to 2013 – helping the organization transform and introduce digitization across several of its processes.
After his time with Lloyd's of London, he took the role of non-executive chairman at Brit Insurance to chair its syndicate through its IPO and subsequent scale to Fairfax. He was also an executive chairman at Cunningham Lindsey Group and a non-executive director at Partnership Assurance Group.
Dr. Ward is currently the senior independent non-executive director at Direct Line Group and was recently the executive chairman of Ardonagh Specialty.
CFC group CEO David Walsh commended the new hire's wealth of experience and leadership that he obtained from working with some of the most notable names in the market, making him a “tremendous asset to us as we move ahead.”
“We are delighted to welcome Richard to CFC,” Walsh said. “The last 12 months have brought many milestones for our business – from the launch of our new syndicate to a record-breaking private equity deal – and Richard's arrival is yet another such milestone.”
Dr. Ward commented: “CFC is an incredible business with a brilliant culture and an exciting, ambitious roadmap. The passion that Dave and the extended leadership team have for their business is palpable, and I'm looking forward to joining them in the next phase of their journey.”
The appointment follows an investment joint-led by two European private equity firms, EQT and Vitruvian Partners, into CFC – underpinning its global insurance platform, cyber leadership, and the significant growth potential of emerging risk insurance.