Cobra acquires Croydon-based broker

Cobra has acquired South Croydon-based broker Robert Edward Southern - its third broker acquisition in three months.

Established in July 1988 RES specialises in in commercial insurance for local SME clients.

Following the acquisition, RES will continue to trade under its existing trading style.

RES directors Brian Hall and Tony Smalley said: “We are pleased to have reached agreement with Cobra and see our brokerage taking an active part in a successful and growing insurance group.

“Our agreement safeguards the future of our business and also means that our clients benefit from the Cobra Group’s strong buying power and excellent insurer relationships.”

Cobra chief executive Steve Burrows added: “As previously stated, part of Cobra’s long-term strategic plan is to expand and strengthen its retail business through a planned acquisition programme of selected insurance brokers across the UK.

“RES will be a great asset to the growing retail arm of Cobra. We continue to look for further like-minded brokers to add to Cobra and we are confident that we will be able to announce more acquisitions over the next few months.”