FLOOD RE ANNOUNCES NEW SENIOR APPOINTMENTS

Flood Re today announces that it has strengthened its senior team with four significant hires.

The appointment of Andrea Santolalla*, Stuart Logue, Emily White and Jean Sharp* will support Flood Re’s ability to continue delivering affordable and available home insurance for those in high flood risk areas, while preparing to transition out of the market by 2039.

Andrea Santolalla will take on the role of Director of Operations, overseeing Claims and Underwriting, Operations, Outsourcing, and IT and Data functions. Andrea was previously COO of Hiscox Special Risks, and has 15 years’ international experience in (re)insurance and banking, spanning operations, risk management, compliance and supervision. She joined Flood Re on 26 May 2021.

Stuart Logue has been appointed as Flood Re’s new Chief Financial Officer with effect from 1 March 2021, having taken up the interim post in October 2020. Stuart has a strong track record in financial management across the financial services sector, with experience as Chief Financial Officer (CFO) at emergency repairs business HomeServe Membership Ltd, and Deputy CFO at insurer Ageas UK.

Emily White joined on 17 May 2021 as Head of Catastrophe Modelling, bringing over 15 years’ experience in catastrophe risk modelling and management across insurance, public policy and alternative risk transfer. She joins from Lloyds Banking Group, where she led the Weather Modelling team.

Finally, Jean Sharp joined as a Non-Executive Director (NED) on 1 April 2021. Jean has over 20 years’ experience at Aviva (and its predecessor companies), having most recently held the position of Chief Taxation Officer. She currently holds a number of NED roles, including Chair of the Audit Committee at Personal Assets Trust Plc, an investment trust, and Operations and Governance Committee Member of the RAC Pension Trustees Ltd, the corporate trustee for the RAC (2003) Pension Scheme.

Flood Re is passionate about improving gender diversity at senior levels of the organisation and has a target to achieve 25% female representation at executive level by 2022. This target has now been achieved a year early, as Andrea joins the team, and Flood Re will be revising this objective later in the year.

Andy Bord, Chief Executive of Flood Re, said:

“I am proud to announce these four new appointments and am excited to welcome them to the team. I am confident they will do great things here, building on the fantastic work of our existing colleagues.

“They join at a pivotal time for Flood Re, as climate change and growing risks of flood damage put new pressures on insurers.

“I look forward to working with all of the team, and for the experience and insight they will bring with them.”

Since Flood Re was launched in 2016, the availability and affordability of home insurance for householders at risk of flooding has improved significantly. Independent research has shown that 96% of householders whose property has flooded previously are able to receive quotes from five or more insurers – compared to 0% before the introduction of the Scheme – and four out of five (79%) householders with previous flood claims have been able to find quotes that are more than 50% cheaper.

Head over to www.floodre.co.uk to learn more.

*Subject to regulatory approval

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