Flood Re Made Fresh Appointments in Multiple Positions
Flood Re, the UK's reinsurance provider for flood insurance, has announced significant changes to its senior executive team. These changes are strategically aligned to tackle the growing challenges posed by climate change.
Latinka Pilipovic has been appointed as the new Chief Financial Officer and Board member, effective from 1 August, subject to regulatory approval. With over 25 years of experience in the UK financial services industry, Latinka brings valuable expertise to the role.
Max Bero, who originally joined Flood Re at its formation in 2016, has been promoted to the role of Chief Operating Officer, subject to regulatory approval. Max expressed his excitement about driving Flood Re into a new era and making a difference with his role.
Max's extensive experience spans across QBE Insurance (Europe), RSA, and Deloitte before joining Flood Re. He also expressed his confidence in using this experience to work effectively with internal and external stakeholders.
Dan Byrne, who has been the Chief Risk Officer since 2017, has been promoted to the role of Chief Commercial Officer. Dan expressed his enthusiasm about stepping into a first-line, delivery-focused position and using his risk expertise to navigate growing Scheme utilization, a shifting reinsurance landscape, and the longer-term impacts of climate change.
Following Latinka's appointment, interim CFO Dave Dunning will step down from the role after a handover period.
Perry Thomas, the CEO of Flood Re, expressed delight at promoting talent from within the company and attracting an experienced CFO like Latinka. Perry's appointment as CEO in February 2023 marked a new chapter for Flood Re, as it continues to position itself as a key component in managing the increasing flood risks driven by climate change.
Flood Re's mission remains centered on protecting vulnerable UK households from flood risk with affordable insurance and resilience measures. Its recent senior team restructuring enhances its capacity to manage climate-driven increases in flood risk through innovative financial tools, stronger internal leadership, and collaboration with government and stakeholders for long-term flood defense investment.
One of the initiatives that the new team aims to drive is the Build Back Better program, which emphasizes flood resilience. They also plan to oversee Flood Re’s entry into alternative risk financing via catastrophe bonds to secure risk capital.
In summary, Flood Re's mission remains focused on protecting UK households from flood risk with affordable insurance and resilience measures. Its recent senior team restructuring enhances its capacity to manage climate-driven increases in flood risk through innovative financial tools, stronger internal leadership, and collaboration with government and stakeholders for long-term flood defense investment.
- Latinka Pilipovic's extensive background in the UK financial services industry, coupled with her appointment as the new Chief Financial Officer (CFO) and Board member at Flood Re, positions Flood Re to leverage her expertise in finance and business as they confront the challenges of climate change.
- The promotion of Max Bero, an experienced executive with a history at Flood Re and other insurance firms such as QBE Insurance (Europe), RSA, and Deloitte, to the role of Chief Operating Officer (COO) shows Flood Re's commitment to internal leadership and strategic alignment with insurtech, environmental-science, and reinsurance changes brought about by climate change.
- By promoting Dan Byrne, who has served as the Chief Risk Officer since 2017, to the role of Chief Commercial Officer, Flood Re is poised to navigate a growing Scheme utilization, a shifting reinsurance landscape, and the longer-term impacts of climate change, as his risk expertise will be essential in making critical business decisions.
- To bolster its resistance to flood risks driven by climate change, Flood Re is set to innovate its financial tools by entering into alternative risk financing via catastrophe bonds, aiming to secure risk capital with the help of its restructured senior executive team focused on climate-change events, environmental-science, and the insurance industry.
