Cobra Holdings, a UK-based commercial insurance broker, has itself split into two divisions following the sale of the company's insurance broking businesses in Caterham and Alton to Aston Scott.

The company has created two new divisions namely wholesale and retail.

The wholesale division, which includes Cobra Network, Cobra London Markets and Cobra Underwriting Agencies, will be headed by John Lincoln.

As head of this division, Lincoln will take a place on the board of Cobra Holdings and will remain the managing director of the network and London market operations and Michael Bowler will remain in charge of Cobra Underwriting Agencies.

The retail division, which comprises the other operations of the COBRA Group including Cobra Insurance Brokers and Cobra Financial Services, will be headed by Steve Burrows in addition to his continuing role as CEO of COBRA Holdings.

Cobra said the changes would increase profitability and improve operational efficiencies throughout.