Flood Re hunts for new CEO as Bord to stand down after 7 years
The chief executive officer (CEO) of Flood Re plans to step down at its annual general meeting in July after leading the UK Government-backed flood risk reinsurer for seven years.
Andy Bord will serve as a strategic adviser to the board during the transition after stepping down as CEO.
Stuart Logue, the current chief financial officer, will serve as interim CEO while Flood Re looks to identify a permanent successor.
Flood Re said Bord, who assumed the chief role in 2017, led its mission to make home insurance accessible to flood-prone households, including the launch of the Build Back Better (BBB) initiative.
Bord joined the company from Capita Insurance Services where he served as CEO. His 26 year career spans various senior roles including deputy CEO at Staysure.co.uk, interim group CEO at Freedom Finance, managing director of frontline at BGL Group and head of mobile convergence at Vodafone, amongst others.
Bord said: “I am immensely proud of what Flood Re has achieved during my tenure. In the face of climate change, high inflation and cost-of-living pressures, our work has never been more critical. The world-first Build Back Better initiative we introduced is already delivering improved flood resilience for hundreds of homes and helping the country to prepare for the future. I believe that having overseen the arrival of a new chair, successfully introduced BBB and created the right platform to place the largest natural catastrophe reinsurance programme in Europe, that this is the right time to hand over the reins. It has been a privilege to lead this organisation and I am confident in its continued success.”
Bridget Rosewell, chair of the Flood Re board, remarked: “The board expresses its immense gratitude to Andy for his outstanding service and leadership. Flood Re would not be the success it is today without his strategic direction and careful management for the last seven years. Flood Re plays a crucial role in supporting the flood insurance management and victims of flooding, and Andy has played a central role in its development. Stuart’s extensive experience and deep understanding of Flood Re’s operations will ensure continuity and stability. Our robust selection process will ensure that we find the best candidate to continue the important work of Flood Re.”
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