Lettings industry services and insurance provider Barbon has been bought by intermediary giant PIB, triggering the appointment of Andy Halstead as its new CEO.

Barbon operates several of the industry’s leading referencing and insurance brands including HomeLet, Let Alliance and Rentshield Direct.

A year ago Barbon merged with Let Alliance, whose CEO had been Andy Halstead, but who now takes over the wider business after Martin Totty announced he is to step down after seven years at Barbon’s helm.

“This is an exciting step in Barbon’s journey, and I feel this is the right time to hand over the baton to Andy and enable the business to benefit from new leadership,” says Totty (above, right).

“I’m delighted that Barbon’s merger with Let Alliance a year ago created an opportunity to plan leadership succession from within and ensure a seamless handover.

New role

“Andy brings enormous experience and expertise from his career in the lettings industry and a business-building track record evidenced by what he and his team have created at Let Alliance over the past ten years. I wish Andy all the best in his new role.”

PIB launched in 2015 and has grown into an insurance intermediary giant largely through acquisition.

A key benefit for lettings agency customers will include having access to many more products and services such as commercial, PI and fleet insurance as well as Barbon’s market-leading products.

At the same time, PIB’s underwriting capability will enable Barbon to develop new products for their business and their customers.

“I would like to thank Martin for all his support while we have been working hard together behind the scenes to prepare for this transition,” says Halstead (above, left).