Flood Re has today announced that its chief executive officer Andy Bord (pictured) will step down from his leadership role at its AGM in July 2024.
In a Press release, the organisation hailed Bord’s “seven transformative years” as the head of the joint initiative between the government and the insurance industry to make home insurance affordable and available for households at risk of flooding. It was highlighted that under Bord’s leadership, Flood Re enabled over 550,000 households to access affordable home insurance while creating its Build Back Better (BBB) initiative to boost the resilience of flood-affected homes.
Commenting on his decision to step down, Bord said he is “immensely proud” of what the organisation has achieved during his tenure and that its work has never been more critical.
“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,” he said. “It has been a privilege to lead this organisation and I am confident in its continued success.”
The Flood Re board also revealed its appointment of Stuart Logue, who currently serves as CFO, as interim CEO effective from Thursday, 18 July 2024, as it looks to identify a permanent successor. Meanwhile, 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, expressed the board’s “immense gratitude” to Bord for his outstanding service and leadership, adding that Flood Re would not be the success it is today without his strategic direction and careful management.
“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,” she said. “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.”
