Cobra taps £7m from insurers
Cobra is the latest broker to tap funding from insurers as the battle to gain greater ties to distri...
Cobra is the latest broker to tap funding from insurers as the battle to gain greater ties to distribution heats up. The move has allowed Cobra to significantly reduce the number of shares to be floated on the Alternative Investment Market on 5 July.
Three partner insurers are providing the broking group - which has retail, network and underwriting arms - with £7m, including interest free loans, for its latest acquisition strategy. Within the next 18 months Cobra is planning to acquire around
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