Flood Re Welcomes Perry Thomas as New CEO
Flood Re, the UK’s flood reinsurance scheme, has appointed Perry Thomas as its new Chief Executive Officer, succeeding Stuart Logue. This appointment is effective immediately, pending regulatory approvals. Logue, who previously held the position of Chief Financial Officer (CFO) at Flood Re, was serving as Interim CEO following the departure of Andy Bord last year.
Background and Experience
Perry Thomas has been a part of Flood Re since October 2021, serving as a Non-Executive Director and Chair of the Risk & Capital Committee. His extensive experience in the financial sector includes roles such as CEO, CRO, and Group Chief Actuary, with a career spanning over three decades. Thomas has held senior leadership positions at prominent companies including Lloyds Bank, HSBC, and Reinsurance Group of America.
Thomas stated, “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.”
Goals and Strategic Initiatives
In his role as CEO, Thomas will focus on strengthening relationships with stakeholders to foster collaborative efforts in addressing flood risk. He aims to implement strategic initiatives that enhance the resilience and sustainability of flood insurance, steering Flood Re into its next phase of development with a focus on stability and effective responses to recent flooding events and climate change impacts.
Bridget Rosewell CBE, FICE, MA, MPhil, Chair of Flood Re, remarked, “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.”
Acknowledgments and Future Outlook
Rosewell expressed gratitude to Stuart Logue for his leadership since August 2024 and his contributions as CFO, which have set a strong foundation for Thomas’s tenure. Logue reflected on his time at Flood Re, saying, “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 team members, the establishment of business parameters and reinsurance programmes, and the launch of ‘Flo’ the Scottish Flood bus for the coming years.”
Logue concluded, “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.”
