Barbon aims to double £21m earnings in five years

Tonge started in the role at the beginning of the year, and has now has outlined his ambitious growth plans for the PIB Group-owned broker.

Tonge wants expansion in its geographical footprint – riding on the back of PIB’s expansion across the continent – and product range.

Barbon currently does not work though brokers, but Tonge said that is ‘something to consider in time’.

Market leader in rental and landlord insurance

The broking group is the UK’s leading intermediary in the market around rental and landlord insurance.

Barbon operates through four key brands: HomeLet, Let Alliance, Rent4Sure and UKInsuranceNET.

It carries out a range of activities, including tenant referencing, providing more than one million references a year, and it  provides contents and liability policies to tenants, and landlord insurance to property owners.

The firm also has the largest rent guarantee brokerage in the UK, which protects tenants’ letting agent fees and landlord income.

When asked about insurance providers and any panel expansion, Tonge said: “We are happy with our existing insurer partners – as we expand and develop our products, we can look at expanding our insurer partners that specialise in the certain sectors we want to grow in.”

Colleagues

Tonge said he was looking forward to working with Andy Halstead, Barbon Insurance Group CEO, and PIB Group CEO, Brendan McManus.

He vowed to put customers at the heart of everything the firm does.

Discussing the move, Tonge said: “I’m absolutely thrilled to be part of Barbon, PIB. In my first few weeks, I have met quality people who are really focused and care about our customers.

“There is a huge amount of opportunity to grow the business and build on the recent couple of years success and growth in Barbon by our talented people.

“I have worked with Andy before over a 25-year period, and I have known Brendan for 10 years. Our values and ambitions are very much aligned.”

Entrepreneurial skills

Tonge is arriving at the Barbon managing director role after spending seven and half years at Property Initiatives Underwriting Agency; a managing general agency he co-founded for commercial and residential property markets. 

Reflecting on his time at PIUA, he said: “Launching a new business brings you so much experience in a short period of time. It really sharpens the focus and relationships on your customers, staff, and insurer partners.

“No single day is the same, and bringing this experience to Barbon is something I’m sure will help me.”

Tonge has previous experience of working in the broking rental and landlord market, having been MD of Keelan Westall between 2014 and 2015. Arthur J Gallagher bought Keelan Westall in 2013 as part of its £38m purchase of Barbon’s property and commercial book. 

For all the latest industry news direct to your inbox, sign up for our daily newsletter.