Four more brokers expected to join before Christmas

The Cobra Network has signed its 126th member, its fifth new members in the past two months.

Lewes based LBS Commercial Insurance Brokers joined on 29th November and Henry F Dodds Ltd of Newcastle upon Tyne joined on 1st December as member number 126.

The company also confirmed that it expects to complete four membership applications by Christmas and is in discussions with a further fourteen brokers from across the UK. The package of benefits now available to Cobra members is proving to be financially attractive to brokers with commercial premiums over ££4 million.

‘I am delighted to welcome LBS and Henry F Dodds into the Cobra club,” said Paul Smith, sales director at CobraNetwork. “We have seen Cobra membership continue to grow steadily over the past year and I believe our business proposition is key to our success. As the pace of industry consolidation continues, I believe our approach offers those brokers that value their independence an alternative route to success especially in the current soft market cycle.”

“I also want to welcome LBS and Henry F Dodds to Cobra,” said managing director John Lincoln. “It is particularly pleasing to see Cobra Network attract new members at a time of increasing pressure for insurance brokers. Today’s trading environment for commercial brokers is leading many to look for ways to enhance their business without sacrificing their independence. At Cobra we believe our partnership commitment provides the best business framework in which brokers can grow whilst taking advantage of all the benefits that our economies of scale provide. Interestingly, in the past few days we have received a number of enquiries from brokers that are taking a closer look the Cobra business model. I fully expect Cobra to be the UK's largest independent network early next year,” he added.

The combined Cobra Network membership currently controls over £350 million in gross written premiums (GWP).