Cobra adds £10m GWP broker

Cobra Network has added Newstead Group as its latest member.

Newstead is a commercial broker with gross written premiums over £10m in 2008 and has offices in Birmingham, Stoke-on-Trent and London.

Paul O’Donnell, managing director at Newstead said: “We’ve known about Cobra Network for some time, mainly through our work with their Lloyd’s broker Cobra London Markets. We had been considering a number of options for the business and joining a network was certainly one of these.

"We looked at other networks, but decided to join COBRA Network because their financial model came out on top. Another key factor was our own business independence. Cobra guarantees this and still allows us to access all their other markets and exclusive schemes.”

Cobra Network’s managing director, John Lincoln said: “I am pleased to welcome Paul O’Donnell and Newstead Insurance Brokers into the Cobra Network family. We know Newstead quite well and they are a strong addition to the Network. I’ve always been confident in our ability to meet the needs of larger commercial brokers and by joining Newstead has demonstrated their own confidence in Cobra.”