Flood Re appoints Bord as interim CEO as McCafferty moves to AXA

Flood Re, the UK Government backed scheme that covers severe flooding, has been forced to appoint an interim boss after failing to find a permanent replacement in time for the departure of its CEO to AXA next month.

Brendan McCafferty, the CEO of Flood Re for just ten months, joins AXA as insurance CEO in a move announced last October. Andy Bord, the former CEO of Capita Insurance Services, has been appointed to replace him on interim basis.

Bord will join Flood Re on 23 January and take over from McCafferty on 10 February. Meanwhile, the company is seeking a permanent chief executive to take the position.

Bord has previously worked for Capita, was the deputy CEO at Staysure, managing director at BGL Group interim group CEO at Freedom Finance (Nordics), an independent consultant to HIG European Capital. He also held several roles at Vodafone UK.

Mark Hoban, chairman of Flood Re, said: “We are very much looking forward to welcoming Andy to Flood Re at such an exciting time. Flood Re is in good shape as we approach the scheme’s first anniversary, ready for the next phase of its development with a very strong executive team.

“Andy has a strong knowledge of the insurance sector and he has worked as both a permanent and an interim chief executive. His strong consumer background and experience of working in complex regulated environments will be particularly helpful as we continue our efforts to ensure that as many people as possible benefit from the scheme. We have appointed headhunters to find the right person for the full-time chief executive role and expect to have them in position by the summer.”

Bord said: “Flood Re has so far helped tens of thousands of people get access to affordable flood insurance but there is still more to do. There is a clear plan and I am excited about joining the team to continue taking the scheme forward in the coming months.”

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