Tuesday, 2 November 2010

Acquistion of Rentshield by Barbon Insurance

Left: One big happy Barbon family
As Rentshield Direct Insurance agents and promoters of their Landlord and Tenant insurance products on line at http://www.jml-property-insurance.co.uk/ , we were interested to see an email yesterday morning 1st November from Felicity Morris the General Manager at Rentshield.

As of 29th October 2010 Rentshield Direct, Trading as Rentshield Direct Ltd, are now owned by the Barbon Insurance Group Ltd.

Rentshield Managing Director, Gary Abraham comments “This is a great opportunity for Rentshield to benefit from the investment and management expertise of a bigger, well-respected business with substantial expertise in the lettings sector.

Under Barbon's devolved business model Rentshield will continue to operate autonomously from our Devon offices. We are looking forward to being part of the Barbon Group, to having its backing and support and to continued growth in the marketplace.”

Barbon Insurance Group Limited is authorised and regulated by the Financial Services Authority. It has a gross written premium of more than £150 million and is committed to delivering innovative insurance solutions, as well as risk management and consultancy services.

It has built an impressive reputation through knowledge, experience and a commitment to understanding its customers’ businesses.

Barbon is wholly owned, through Caley Limited, by leading banks HSBC and Lloyds Banking Group.

Barbon Insurance has other well known Landlord and Tenant insurance brands in it's portfolio including Letsure and HomeLet. If Barbon is going to keep Rentshield separate as it does with Letsure and HomeLet it should mean that they will still be competitive in todays market place. Interesting times ahead.

Barbon chief executive Martin Oliver said: “Although part of our lettings division, HomeLet and Letsure operate as competing businesses. As a result, they have driven up service standards and are now widely recognised as market leaders.

“The acquisition of Rentshield will accelerate our earnings in line with Board objectives, further increase market share and reinforce Barbon’s unrivalled position at the top of the lettings industry.”

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