The latest from Flood Re;
Flood Re has today confirmed a raft of changes to its senior executive team following the appointment of Perry Thomas as CEO in February this year. The new team reflects moves by the reinsurer to ensure that it can continue to deliver on its core mission in the wake of the increasing impacts of climate change – to promote the affordability and availability of home insurance for householders living in the highest flood risk areas of the UK; and to manage the transition of the insurance market to risk-reflective pricing by its exit in 2039.
The Flood Re Board has appointed Latinka Pilipovic as Chief Financial Officer and Board member, as of 1 August, subject to regulatory approval.
A qualified Chartered Accountant, Latinka has over 25 years’ 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. She is also a trustee of two charities, Forward Arts Foundation and Calm Mediation.
Following Latinka’s appointment, interim CFO Dave Dunning will step down from the role after a handover period.
Dan Byrne, currently Chief Risk Officer, has been promoted to Chief Commercial Officer. Dan, who joined Flood Re in 2016 and has been CRO since 2017, previously worked at AIG in an Enterprise Risk Management role. Dan will continue in his role as CRO until an interim is confirmed shortly.
Max Bero, presently Director of Operations, has been promoted to the role of Chief Operating Officer (subject to regulatory approval). A Chartered Internal Auditor, Max originally joined Flood Re at its formation in 2016, having previously held related roles at QBE Insurance (Europe), RSA and Deloitte.
Perry Thomas, CEO, Flood Re, 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.”
Latinka Pilipovic, Chief Financial Officer, Flood Re, said:
“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.”
Dan Byrne, Chief Commercial Officer, Flood Re, 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.”
Max Bero, Chief Operating Officer, Flood Re, said:
“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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