UK flood risk pool Flood Re names successor as founder plots Sept. exit
Flood Re, the UK Government-backed scheme to pool flood risk, picked a new board member and chair designate to replace outgoing chair Mark Hoban (pictured left), drawing a name known across a huge swathe of UK public sector infrastructure, utilities, financial services, and transport.
Bridget Rosewell (pictured right)is lined up step in when Mark Hoban steps down in September 2023 at the end of his term, the inaugural term for the post.
Rosewell brings experience across infrastructure, utilities, financial services, and transport plus an 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.
She currently holds roles as non-executive chair of audit and risk for the UK Infrastructure Bank and at Northumbrian Water, chair of UK tolled motorway M6 Toll, and chair of challenger bank, Atom.
Outgoing chair and Flood RE founder Mark Hoban 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.”
Flood Re CEO Andy Bord added: “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.”
Chair-designate Rosewell 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.”
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