Cobra chairman Steve Burrows announced last week that a major new insurance group is being created, operating under a new parent company, Cobra Holdings.
The new insurance group will formally bring together BKG Insurance Brokers, BKG Corporate Risks, BKG Financial Services, Truman Lincoln, GAL and the Commercial Broking Alliance (re-branded as Cobra Network).
The new group will also include two new companies, Cobra Insurance Management and Cobra Underwriting Agencies.
All negotiations are complete and all formal contracts are on course to be completed by the end of 2005.
Burrows said: "We have brought together a number of successful insurance organisations to create a balanced and robust organisation that is properly equipped to provide a broad spectrum of insurance and financial services to the UK marketplace.
"Cobra Holdings will be a major force in the UK insurance market with direct premiums in excess of £100m, together with Cobra Network generating in excess of £325m in gross written premiums.
"The formation of Cobra Holdings fulfils a long-term vision," added Burrows. "Strategically, Cobra Insurance Management has already embarked on a significant acquisition programme, with agreements in place to purchase two firms in the next three months and a further nine currently in negotiation.
"Cobra will also establish regional offices across the country, allowing further expansion by both organic growth and acquisition."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
