Flood Re names Bridget Rosewell as new Chair

August 1, 2023
  • Bridget Rosewell CBE, FICE, MA, MPhil has been appointed to the Board of Flood Re as Non-Executive Director (NED) and Chair-Designate.
  • New chair brings extensive and valuable experience in economics, regulation, and the development of strategic policy across a wide range of stakeholders, including investors, regulators, and government.
  • Out-going chair Mark Hoban, who will step down in September 2023 at the end of his term successfully oversaw the creation, authorisation, and effective delivery of Flood Re’s purpose.

Bridget Rosewell has been appointed as Non-Executive Director and Chair-Designate for Flood Re, to succeed out-going Chair Mark Hoban. The appointment, subject to regulatory approval, will see Bridget take up the role of Chair at the end of September.

Bridget has extensive experience most recently across infrastructure, utilities, financial services, and transport. She also has a strong economics background having served as Chief Economic Adviser to the Greater London Authority (2002-2012), Deputy Director of Economic Affairs at the Confederation of British Industry and lecturer in economics at the University of Oxford.

Present roles include 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 challenger bank, Atom. Previous roles also include Commissioner of the National Infrastructure Commission (2015- 2023), and Member, Independent Review of Finances of TfL.

She will take over the role of Chair from Mark Hoban who will step down in September at the end of his term, a period during which he successfully steered the creation, authorisation, and establishment of Flood Re, the joint initiative between the UK insurance industry and the UK Government to promote the availability and affordability of flood insurance.

Mark Hoban, out-going Chair, Flood Re, commented: “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.”

Andy Bord, CEO, Flood Re added: “First of all, I would like to say a huge thank you to Mark for his invaluable service, direction, and personal contribution to both the establishment of Flood Re and the delivery of our mission to ensure affordable and available home insurance for those in high flood risk areas. 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.

“Looking forwards, 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.”

Bridget Rosewell, Chair-Designate, Flood Re commented: “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.”