Mark Hoban appointed for his ‘strong ministerial and parliamentary experience’
Former financial secretary to the Treasury Mark Hoban (pictured) has been appointed chairman of Flood Re.
Hoban was appointed following an external recruitment process conducted by Odgers Berndtson on behalf of the ABI, industry chief executives and Flood Re chief executive Brendan McCafferty.
Commenting on the appointment, which is subject to regulatory approval, McCafferty said: “Mark’s appointment as chairman of the Flood Re board will bring significant benefits as we enter a crucial stage in the implementation of Flood Re.
“Mark brings a wealth of experience within both financial services and government, and I am very much looking forward to working with him.”
Last month 50-year-old Hoban announced his intention to stand down from parliament at the forthcoming general election to undertake new challenges.
Hoban said: “Flood Re is an important initiative for both government and the insurance sector. It will help insurers continue to provide flood cover to high risk households and ensure that the cost of flood damage is met through an insurance solution. I am delighted to be its first chairman and have the opportunity to take this new initiative forward.”
ABI director general Huw Evans said Hoban was appointed for his “strong ministerial and parliamentary experience with a clear understanding of the insurance industry”.
“I am delighted Flood Re will have someone of Mark’s calibre to lead its board,” he said.