Insurance group CFC has appointed Adam Winslow, formerly of Direct Line, as its new chief executive. This move comes as CFC, backed by private equity firms EQT and Vitruvian Partners, evaluates strategic options, including a potential $6.5 billion initial public offering on the London Stock Exchange. Winslow previously led Direct Line until its acquisition by Aviva.

Winslow replaces Louise O’Shea, who steered CFC through an investigation by Lloyd’s of London concerning allegations of non-financial misconduct. CFC, which began as a cyber insurance specialist in 1999, has broadened its offerings to include commercial risks such as kidnap and ransom, and warranty and indemnity cover for M&A.

The potential London listing is significant for the UK insurance market, which has seen a contraction in listed entities due to consolidation and foreign takeovers, such as Zurich's £8 billion acquisition of Beazley. A successful IPO for CFC would represent a win for the city's financial sector.