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PIB-owned Cobra London Markets comes under Citynet brand

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Citynet Insurance Brokers and Cobra London Markets, both owned by PIB Group, have merged into one company and rebranded into Citynet.

The rebrand will unify the two firms as one company led by managing director of Citynet, Andrew Walsh.

The rebranding will be effective from 8 November for new business and renewals issued after that date. For policies which are mid-term, rebranding will take place at renewal.

Since November 2019, Cobra has joined forces with Citynet, and some of the Cobra and Citynet departments had already merged internally.

Walsh said: “I am very proud of the heritage provided by Cobra London Markets and I’m equally excited about the future, by presenting our proposition to the market under a single brand.”

Cobra was originally acquired by Carlyle-backed broker consolidator PIB Group in 2019.

Cobra was previously owned by CEO Steve Burrows and other management figures through holding company Alto Insurance Group.

PIB agreed to acquire the previously independent wholesale broker Citynet, back in 2017.

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