LONDON, July 2019
PIB Group Limited (‘PIB’) has completed its acquisition of The COBRA group of companies (‘COBRA’) following FCA regulatory approval. COBRA is a network-centric proposition to independent insurance intermediaries and provides a wide range of services for its Network members, agents and clients through its four main operating platforms: COBRA Network, COBRA Underwriting Agencies, COBRA London Markets and COBRA Insurance Brokers.
At the same time, PIB’s Broking and Placement Director Andy Tedstone will assume the role of CEO for COBRA Network. He will work closely with former CEO for COBRA Steve Burrows, who has agreed to remain as a consultant for the foreseeable future and assist with developing and investing in the broker proposition.
Tedstone joined PIB in May 2017 to oversee the Group’s new and existing strategic insurer relationships as well the overall broking and placement strategy. His career spans 30 years, of which 28 have been spent in broking within various businesses including a small family brokerage, a wholesale scheme broker, as well as Arthur J. Gallagher and Giles.
Andy Tedstone, CEO for COBRA Network commented: “It goes without saying that I am delighted to have been appointed to the role of CEO for COBRA Network. I am committed to ensuring the independence of the Network whilst leveraging the wider PIB Group position to make greater resources available to our members. Being part of PIB is probably one of the most exciting places I’ve worked, and I’m looking forward to the potential that the Network can achieve with PIB’s investment.”
Brendan McManus, CEO for PIB Group commented: “In the two years that Andy has been with PIB as our Broking and Placement Director, he has brought tremendous value to our strategic relationships with our carriers and I’m delighted that he has accepted his new role. I’m confident that under Andy’s leadership and with PIB’s investment, COBRA Network will rise to the next level that they have been seeking.”
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About PIB Group
PIB Group is a dynamic insurance intermediary group aiming to create a leading position in the provision of specialist insurance solutions across the UK market and beyond. Launched in 2015, PIB has grown rapidly through acquisitions and by employing outstanding individuals with a wealth of knowledge and experience in the insurance market. Businesses within the group structure include: PIB Insurance Brokers, Cooke & Mason, PIB Risk Management, Fish Insurance, Channel Insurance Brokers, QPI Legal, Thistle Insurance Services, Thistle Underwriting, TFP Schemes, D E Ford, Franklands, Morton Michel, aQmen underwriting, Citynet Insurance Brokers, Lorica Insurance Brokers, Wilby, Lincsafe, i2 Healthcare, Albany Childcare, Wheatley Wright, Optis Insurance and the COBRA group of companies. The PIB Group offers a range of specialist teams, products and services to clients throughout the UK, Channel Islands and Ireland. For more information visit www.pibgroup.co.uk.
About COBRA Group
The COBRA group of companies comprises of COBRA Network Ltd., COBRA London Markets, COBRA Underwriting Agencies Ltd, and COBRA Insurance Brokers Ltd. The Group provides a wide range of insurance services for its network members, agents and clients through the four main operating platforms. Visit https://cobraholdings.co.uk for more information.
Tel: 0203 961 7644