Flood Re strengthens senior executive team with three appointments

The Board of the UK flood reinsurance scheme, Flood Re, has appointed Latinka Pilipovic as Chief Financial Officer (CFO) and Board member, effective August 1st, 2025, subject to regulatory approval.

Simultaneously, Dan Byrne, the Chief Risk Officer (CRO), has been promoted as Chief Commercial Officer and Max Bero, currently Director of Operations, has been promoted to Chief Operating Officer.

These appointments follow that of Perry Thomas as Chief Executive Officer in February this year.  According to Flood Re, the new team aligns with its core goals and aims to manage the transition of the insurance market to risk-reflective pricing by its exit in 2039.

Thomas commented, “I am delighted to have been able to promote such a high calibre of talent from within Flood Re to key positions, and to have been able to attract a CFO of such experience and knowledge as Latinka.

“These appointments reflect our desire to have a strong and knowledgeable executive team in place as we look to address the many challenges and opportunities presented by the impacts of climate change ahead of our exit from the market in 2039.

“Our focus it to ensure the Flood Re scheme continues to deliver on our core mission to provide accessible and affordable flood insurance in the UK, to continue to drive forward on Build Back Better, promote the take up of property flood resilience measures, all whilst pressing for continued investment by government in flood defences and the development of rigorous planning and development approaches.”

Pilipovic is a qualified Chartered Accountant, with over 25 years of experience working across the UK financial services industry, most recently as CFO for Guardian Financial Services. She has also held senior roles at Foresters Financial UK, Legal & General, and Aviva.

Meanwhile, Byrne joined Flood Re in 2016 and has been CRO since 2017. He will continue in the role until an interim is confirmed. Previously, he worked at AIG in an Enterprise Risk Management role.

Bero’s appointment as Chief Operating Officer is subject to regulatory approval. A Chartered Internal Auditor, Bero has been with Flood Re since its establishment in 2016, having previously held related roles at QBE Insurance (Europe), RSA and Deloitte.

Pilipovic added, “I am excited to be appointed as Chief Financial Officer at Flood Re from 1 August. Having worked in a number of financial institutions, I am looking forward to bringing fresh insight and to help steer the organisation through the transformative time that lies ahead.”

Byrne said, “Having served as Chief Risk Officer since 2017, I’m thrilled to step into the role of Chief Commercial Officer, moving into a first line, delivery-focused position. My risk expertise and deep knowledge of the Flood Re Scheme will be vital as we navigate growing Scheme utilisation, a shifting reinsurance landscape, and the longer-term impacts of climate change.

“Building on my leadership of Flood Re’s inaugural Catastrophe Bond, Vision 2039, I’m committed to balancing commercial priorities with our public purpose—ensuring flood insurance remains available and affordable for those most at risk.”

Bero stated, “I’m delighted to take up the role of COO which will give me the opportunity to help drive Flood Re into a new era with a number of challenges on the horizon. My experience of the Scheme will be invaluable as we work with internal and external stakeholders to make a difference.”

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