LetSense, the residential insurance provider, will cease trading on Monday 7th December 2009. The firm, formed by industry specialists Brian Turney, Rob Jones and Alan Holton, was formed at the end of 2008 and was making very positive inroads into the lettings market.

The firm was backed by insurance giant MMA Insurance plc, a major European insurer and part of the Covea Group. The company was launched with products for tenant referencing and rent and legal protection insurance services for letting agents, and Letsense had just started marketing new products for contents insurance.

MD Brian Turney (pictured) told PROPERTYdrum that he was very disappointed to break the news. “We have reluctantly had to take the decision to cease trading with effect from Monday 7th December as we have been unable to secure continued backing for our operations. We are very sad that MMA has decided not to continue with LetSense. We had made a very good start with our referencing and rent protection services and the new contents insurance had just been launched.”

The products would all need further support but it seems that MMA is not willing to continue. In a statement to PROPERTYdrum MMA said, “MMA is aware of the decision by the Board at LetSense, the specialist provider of insurance products and services to the residential lettings market, to close the business. “MMA was an investor at the launch of Letsense in 2008, but since then has refocused its own business on the UK commercial lines insurance market. Because of this change of strategic direction, MMA decided to terminate its relationship with LetSense.”