PIB Group Limited has completed its acquisition of The COBRA group of companies following FCA regulatory approval.
PIB’s Broking and Placement Director Andy Tedstone will assume the role of CEO for COBRA Network. He will work closely with former CEO for COBRA Steve Burrows, who has agreed to remain as a consultant for the foreseeable future and assist with developing and investing in the broker proposition.
Andy Tedstone joined PIB in May 2017 to oversee the Group’s new and existing strategic insurer relationships as well the overall broking and placement strategy. His career spans 30 years, of which 28 have been spent in broking within various businesses including a small family brokerage, a wholesale scheme broker, as well as Arthur J. Gallagher and Giles.
Andy Tedstone, CEO for COBRA Network commented: “It goes without saying that I am delighted to have been appointed to the role of CEO for COBRA Network. I am committed to ensuring the independence of the Network whilst leveraging the wider PIB Group position to make greater resources available to our members. Being part of PIB is probably one of the most exciting places I’ve worked, and I’m looking forward to the potential that the Network can achieve with PIB’s investment.”
Brendan McManus, CEO for PIB Group commented: “In the two years that Andy has been with PIB as our Broking and Placement Director, he has brought tremendous value to our strategic relationships with our carriers and I’m delighted that he has accepted his new role. I’m confident that under Andy’s leadership and with PIB’s investment, COBRA Network will rise to the next level that they have been seeking.”