Cobra posts loss following sale of broking business

Steve Burrows

The broking firm put the loss down to a goodwill impairment charge of £1.5m.

According to the group this was primarily associated with the sale of the business and certain fixed assets of its insurance broking operations in Caterham and Alton to ASG Risk Management, a subsidiary of Aston Scott Group.

Like for like EBITDA increased by 35% to £2.42M (2010 EBITDA after adjustment of one off other income of £1.39m was £1.79m).

Steve Burrows, CEO of Cobra said: “Market conditions continue to be

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: