Flood Re has appointed Bridget Rosewell CBE, FICE, MA, MPhil as non-executive director and chair, subject to regulatory approval.
Rosewell (pictured) has a wealth of experience across various industries, most recently in infrastructure, utilities, financial services, and transport. She also has a solid economics background, having served as chief economic adviser to the Greater London Authority from 2002 to 2012, deputy director of economic affairs at the Confederation of British Industry, and economics lecturer at the University of Oxford.
Currently, Rosewell is the non-executive chair of audit and risk for the UK Infrastructure Bank, NED of Northumbrian Water, chair of M6 Toll (the UK's only tolled motorway), and chair of the challenger bank, Atom. Previous roles also include as commissioner of the National Infrastructure Commission (2015-2023) and a member of the independent review of finances of TfL.
Commenting on her appointment, Rosewell said: “I am delighted to be joining the Flood Re board and look forward to helping continue its vital work promoting the availability and affordability of flood insurance. Equally, as we all face into our greatest national challenge in climate change, I am excited to be working with a wide range of partners on flood prevention and resilient adaptation in the face of ever-increasing flood risk.”
Rosewell will succeed outgoing chair Mark Hoban, who will step down from his role in September at the end of his term.
Hoban successfully led the creation, authorisation, and establishment of Flood Re, the joint initiative between the insurance industry and the government to promote the availability and affordability of flood insurance.
“I am extremely proud of Flood Re which has addressed the problem that it was originally set up to solve – making flood insurance more affordable and increasing its availability. But Flood Re has and
will continue to go beyond this and together with the industry and its partners be part of the solution to climate change adaptation. My parting message is do not let the success of Flood Re mask the need to create a long-term sustainable solution to managing flood risk. Much has been achieved but much more still needs to be done,” Hoban said.
Flood Re CEO Andy Bord thanked Hoban for his contribution to the establishment of Flood and the delivery of its mission.
“Mark's energy and enthusiasm, combined with his sharp political and regulatory insights, have been critical to our success so far. I would also like to personally thank him for the wise counsel that he has provided to me,” Bord said.
“Looking forward, I and the rest of the board are delighted to have been able to attract someone of Bridget's calibre and experience as we drive ahead on our transition plan and prepare the insurance market for our eventual exit in 2039. Bridget brings a wealth of economic, strategic, and regulatory knowledge to the role, which, together with her passion and enthusiasm, will help us deliver on our ambitious plans.”
