Flood Re appoints Perry Thomas as CEO

UK flood reinsurance scheme, Flood Re, has announced that Perry Thomas has been appointed to take over from Stuart Logue as its new Chief Executive Officer (CEO), effective immediately, subject to regulatory approvals.

Logue previously served as Flood Re’s Chief Financial Officer (CFO), and was named Interim CEO last year amid the departure of Andy Bord.

New CEO Thomas has served as a Non-Executive Director and Chair of Flood Re’s Risk & Capital Committee since October 2021, so has good experience and a deep understanding of the scheme.

He brings a wealth of experience and has a long history in the financial sector, including roles as CEO, CRO, and Group Chief Actuary. His career spans more than three decades and Thomas has worked in multiple jurisdictions, holding senior leadership roles at companies such as Lloyds Bank, HSBC, and Reinsurance Group of America.

“Having been part of the organisation for the past few years, I have seen firsthand the positive impact that Flood Re can make. I am committed to working with the Flood Re team, insurers and government bodies to continue improving flood insurance accessibility and affordability, especially in light of recent flooding events and the potential impacts of climate change that underscore the importance of Flood Re’s mission,” said Thomas.

In his new role, Thomas is tasked with strengthening relationships with stakeholders to ensure collaborative efforts in addressing flood risk, implementing strategic initiatives to improve the resilience and sustainability of flood insurance, and leading Flood Re through its next phase of development with a focus on stability and effective response to recent flooding events and the impacts of climate change.

Bridget Rosewell CBE, FICE, MA, MPhil, Chair of Flood Re, commented: “Perry’s experience and strong understanding of Flood Re make him the ideal leader for this critical time. We are confident that under Perry’s leadership, Flood Re will continue to make significant strides in supporting UK homeowners at risk of flooding. Recent flooding events have highlighted the critical role that Flood Re plays in the insurance landscape and Perry’s leadership will be pivotal in navigating these challenges and reinforcing the organisation’s commitment to its mission.

“I am grateful to Stuart for leading the organisation since August 2024 and for his time as CFO, setting the business up for success with Perry’s arrival.”

Logue added: “I have been honoured to have led Flood Re as Interim CEO since last August and I am hugely proud of what the organisation has achieved in that time and in the previous four years as CFO. In particular I am pleased to have seen the development of members of the team, landing the business parameters and reinsurance programme, as well as the launch of “Flo” the Scottish Flood bus for the coming years.

“As we’ve seen from the nine named storms in 2024 Flood Re, and the work it does in ensuring household flood insurance is available and affordable for those most in need, has never been more important. I am proud that we are now seeing households benefit from Build Back Better by staying dry and safe in their homes, breaking the repeating cycle of trauma those at high risk of flooding previously faced.

“I wish Perry Thomas, who knows the organisation well having sat on the board for two years, and all of the Flood Re team continued success with the business which started back at its launch in 2016.”

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