Barbon Insurance Group Ltd (Barbon) has announced the appointment of Peter Graham as non-executive chairman, subject to FCA approval. Graham joins Barbon as it enters an exciting new era following the completion of a deal that sees The Carlyle Group become its majority shareholder.
Graham is one of the insurance industry’s most highly regarded leaders and has enjoyed a long and successful career with some very high profile brands in the sector. Graham made his name as one of the founding members and Chief Executive Officer of esure, which went on to become one of the fastest growing insurers. Subsequently he took on high-profile roles at both Towergate and Legal & General.
He will bring to Barbon an in-depth knowledge of how to deliver outstanding customer services within the insurance industry as well as a deep understanding of the digital space.
Commenting on the appointment, Graham said: “I am tremendously excited to be joining Barbon, where I believe there is a huge opportunity to capitalise on the company’s leadership in a growing market; our excellent service proposition means we are ideally placed to build on the success of our best-of-class referencing service and our valuable insurance products.”
Graham was introduced to the business by The Carlyle Group, which recently completed a transaction to become majority shareholder in Barbon. Carlyle, which has a strong track record of investing in growth companies, now plans to work closely with Barbon’s existing management team, led by Chief Executive Officer Martin Totty, as it sets out plans for strategic growth.
Barbon’s CEO Martin Totty said: “Barbon is now poised for significant growth: the recruitment of a high-profile chairman and the commitment shown to the company by The Carlyle Group underlines just how much potential there is for our business to succeed in a rapidly growing marketplace.”
Barbon’s trading relationships now include collaborations with many leading letting agents in the UK who use its tenant referencing service. Significant numbers of landlords and tenants also hold its specialist insurance products.
Martin added: “Above all, Barbon’s priority is to deliver the highest levels of service to our customers: our success in both tenant referencing and insurance reflects the commitment we have made to delivering outstanding service quality and this will remain paramount as the company’s growth strategy evolves.”
Barbon’s financial strength and market leadership leaves the business well placed to capitalise on the expected growth of demand in the private rental sector. With political will to increase the total supply of housing stock available, some of which will become private rental property, the market is forecast to continue the growth seen in recent years.