16/08/2007 10:23:39 - COBRA Financial Services - Office Move
COBRA Financial Services sucessfully completed the office move back to Croydon from Caterham on 9th March 2007.
The move went smoothly and they are back amongst familiar surroundings in the office that used to be occupied by BKG Financial Services.
Their new contact details are;
COBRA Financial Services Ltd.
Canterbury House,
2-6 Sydenham Road,
Croydon,
Surrey,
CR0 9XE.
Telephone: 0208 256 1910 Fax: 0208 256 1974
or contact them by email
16/08/2007 09:58:36 - COBRA Holdings PLC, Acquisition of TUBBS Insurance Services Ltd
COBRA Holdings PLC
Acquisition of TUBBS Insurance Services Ltd
COBRA Holdings PLC (AIM: CBRA), a major UK-based retail and wholesale insurance broking group, is pleased to announce it has today exercised an option to acquire the share capital of TUBBS Insurance Services Ltd (“Tubbs”), the terms of which were set out in the AIM Admission Document published on 29 June 2007.
Tubbs is a commercial broker based in West Byfleet that controls approx £4.5m of Gross Written Premiums (GWP).
The acquisition of Tubbs was in negotiation prior to the Admission to AIM and following the completion it will now be integrated with an earlier acquisition, K W Batten (Insurance Consultants) Ltd. KW Batten, was also a COBRA Network member, with a Farnham-based operation controlling nearly £2m of GWP. The principals, Ken & Sandra Batten, have now retired and both businesses will be run by the Tubbs management team.
These acquisitions form part of COBRA’s Hub and Spoke strategy, which is based on the establishment of regional brokers, linked with smaller independent firms within their catchment area. The smaller firms will be either integrated in to the Hub or managed remotely as satellite offices or Spokes. Tubbs and K W Batten will combine to create a local “hub” to our operation in Caterham. The combined operation is expected to add in excess of £1m of revenue to the group.
For the foreseeable future, the new combined entity will trade as COBRA Tubbs Batten Ltd and the operation will continue to be based in West Byfleet.
Neil Carter, Managing Director of Tubbs, commented:
”We have been a member of the COBRA Network for several years and as a company, we appreciate the advantages this brought us. Having now been acquired by COBRA Holdings plc, we look forward to growing our company within this larger organisation and being able to utilise to the full all its resources. This will, undoubtedly, benefit our clients who will have access to an even wider insurance market.”
Phil Truman, Director with responsibility for acquisitions at COBRA Holdings, commented:
“Neil & Roger have an excellent business with a well trained team of experts and we are very pleased to welcome them in to the Group. Both acquisitions are an excellent demonstration of our Hub and Spoke strategy in action. In negotiating these transactions we understood the importance of taking into account succession within the business for senior management.
“The acquisition of Tubbs is the first we have completed since joining AIM in June and we continue to evaluate other opportunities in line with our strategy.”
24/07/2007 14:34:14 - COBRA Financial Services
COBRA Financial Services website has released a new look website, which has been improved to easier navigation.