17 January 2017Insurance

Flood Re appoints Bord as interim CEO as McCafferty moves to AXA

Flood Re, the UK Government backed scheme that covers severe flooding, has been forced to appoint an interim boss after failing to find a permanent replacement in time for the departure of its CEO to AXA next month.

Brendan McCafferty, the CEO of Flood Re for just ten months, joins AXA as insurance CEO in a move announced last October. Andy Bord, the former CEO of Capita Insurance Services, has been appointed to replace him on interim basis.

Bord will join Flood Re on 23 January and take over from McCafferty on 10 February. Meanwhile, the company is seeking a permanent chief executive to take the position.

Bord has previously worked for Capita, was the deputy CEO at Staysure, managing director at BGL Group interim group CEO at Freedom Finance (Nordics), an independent consultant to HIG European Capital. He also held several roles at Vodafone UK.

Mark Hoban, chairman of Flood Re, said: “We are very much looking forward to welcoming Andy to Flood Re at such an exciting time. Flood Re is in good shape as we approach the scheme’s first anniversary, ready for the next phase of its development with a very strong executive team.

“Andy has a strong knowledge of the insurance sector and he has worked as both a permanent and an interim chief executive. His strong consumer background and experience of working in complex regulated environments will be particularly helpful as we continue our efforts to ensure that as many people as possible benefit from the scheme. We have appointed headhunters to find the right person for the full-time chief executive role and expect to have them in position by the summer.”

Bord said: “Flood Re has so far helped tens of thousands of people get access to affordable flood insurance but there is still more to do. There is a clear plan and I am excited about joining the team to continue taking the scheme forward in the coming months.”

Did you enjoy reading this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
4 April 2017   A year after Flood Re went live, the number of insurance providers that signed up to the scheme increased to 60 from 16.
Insurance
13 February 2017   Former Flood Re CEO Brendan McCafferty has taken up his new role as CEO for intermediated and direct at AXA.
Insurance
28 October 2016   AXA has appointed Brendan McCafferty as CEO of AXA Insurance, Intermediated and Direct, effective February 13, 2017.