Flood Re has appointed an interim top boss as it looks to identify a permanent successor

Flood Re has announced that Andy Bord will step down as chief executive at its annual general meeting (AGM) in July.

Bord joined Flood Re as its top boss in 2017 and under his leadership, the firm has helped more than 500,000 households get access to more affordable insurance.

He also oversaw the launch of the Build Back Better (BBB) initiative, which offers people the opportunity to install property flood resilience measures up to the value of £10,000 when repairing their properties after a flood.

“I am immensely proud of what Flood Re has achieved during my tenure,” Bord said.

”In the face of climate change, high inflation and cost-of-living pressures, our work has never been more critical. The world-first BBB 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.”

Interim chief executive

With Bord stepping down, the Flood Re board has appointed chief financial officer Stuart Logue as interim chief executive as they look to identify a permanent successor.

He will take up the role 18 July 2024 – Bord will continue as a strategic adviser to the board over the next few months to ensure a smooth transition.

Bridget Rosewell CBE, chair of the board, said: “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.”