CFC Underwriting profits double

by David Masters

Story link: CFC Underwriting profits double

Specialist lines underwriting agent, CFC Underwriting, has reported its eighth year of growth in a row.

In the year ending 30th September 2008, CFC reported a revenue increase of 65%, whilst operating profit doubled on year to £1.8 million.

Managing director David Walsh said eight years of successive growth is an ‘outstanding achievement’.

Walsh believes that there are two reasons for CFC’s success.

Firstly, he said, CFC is ‘obsessed’ with giving its brokers top quality, up to date products. Secondly, the company ‘constantly strives’ to offer the best levels of service in the market.

CFC’s team has grown by over 30% in the last year, including the appointment of business development director Graeme Newman.

According to Newman, every product line at CFC beat its target this year.

Because of this, CFC has set itself ambitious targets for the year ahead, despite difficult market conditions.

The company is targeting 40% growth, and plans to recruit more staff.