Barbon Insurance Group has announced that its chief executive, Martin Oliver, has tendered his resignation.
He will leave after his six-month notice period expires. The announcement stressed that until then, he will continue to fulfil his duties as chief executive.
The brief resignation statement made no reference to Barbon’s troubled HomeLet business.
HomeLet, the country’s biggest tenancy referencing and insurance firm, is currently the centre of an investigation by the Financial Services Authority because of concerns that – through HomeLet’s network of 3,000 agents – tenants were wrongly sold insurance as a condition of their tenancy agreement.
Agents were apparently advised to make this a mandatory requirement in their agreements.
The affair has already led to first the suspensions, followed by last month’s sackings for alleged misconduct, of chief executive John Boyle and Heidi Abbott, operations director.
It is understood that both strenuously deny any misconduct.
Tim Redburn, chairman of Barbon, said: “We thank Martin for his contribution and wish him well as he embarks on the next stage of his career. We will be making an announcement on Martin’s replacement as Barbon chief executive in due course.”
The FSA investigation into HomeLet, with which Barbon is co-operating, is still ongoing.
Meanwhile, LetAlliance, a tenancy referencing and insurance firm set up last year by Andy Halstead, who once headed HomeLet, has announced its expansion into Northern Ireland.
The operation will be headed by Michael McCready, based in Belfast, who spent five years with HomeLet.
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Comments
It's time this article was booted into the long grass-very very boring!
I see the Homelet insurance market "expertise" is spreading elsewhere...
fair point, only just read it......
It is hardly topical though is it, that article has been on the FSA website for approximately six weeks.
Hi 'keep on moving' we didn't mean to stick the boot in, we just objected to the article suggesting that agents had acted inappropriately and Homelet had somehow stepped in to save the day.....
Certainly did not mean to cause any offence.
A nice tweet from you guys today sticking the boot into your old employees having previously stated you wouldn't do this.
5 years with Homelet and 2 years with CCV / Paymentshield is reasonable; be fair....
Let Alliance is no longer about working for others, so in it for the long haul.
Homelet, CCV, Paymentshield, LetAlliance. I wonder where Andy Halstead will be next week?
Answers on a postcard.
The right thing to do. Best for Homelet to move on those responsible. Also, thanks to LAT for letting us know where the old guard are going so that we have prior warning before any approaches from those who may have previously been involved. Good journalism.
Martin Oliver leaves the sinking ship, even though he is responsible for the disaster; http://tinyurl.com/cknzwlc
Not sure how much due dilligence his new employers have carried out......FSA investigation is not over!