Cobra London Markets takes over Lloyd’s broker’s commercial lines business
Steve Burrow’s Cobra London Markets (CLM) has purchased a large commercial lines book of business from Lloyd’s broker Holman’s for an undisclosed sum, Insurance Times has learnt.
The book includes Holman’s professional indemnity, accident and health and pleasurecraft insurance business.
Staff at the Lloyds broker were informed of the deal on Monday. Six Holman staff and their related binding authorities schemes, lineslips and facilities will transfer to Cobra’s Fenchurch Street office following completion of the deal on 1 February.
In an email to clients seen by Insurance Times that confirms the deal, Andrew Holman said: “We anticipate there being no deterioration in service while the business is transferred over or thereafter. Your usual Holman contacts will remain servicing your business at CLM after the transfer.”
Holman’s will continue to operate as an independent Lloyd’s broker but will focus on motor fleet, property and coverholder business in the future.
Holman’s declined to comment when contacted by Insurance Times.
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