Warburg Pincus and Aquiline among CFC bidders

First-round bids in the auction of specialist MGA CFC
Underwriting were submitted last week, with submissions coming
solely from private equity houses, The Insurance
Insider understands.
Market sources suggested that the company could trade at a
valuation upwards of 12x forward Ebitda of £15mn ($18.7mn),
equating to £180mn+.
Warburg Pincus, Lightyear Capital and Aquiline are understood to
have submitted indicative proposals, but it is not clear yet
whether they have been selected to