Flood Re has strengthened its senior team with the addition of four “significant” hires, who will support the group’s ability to deliver “affordable and available” home insurance for those in high flood risk areas, while preparing to transition out of the market by 2039.
Andrea Santolalla, who joined on 26 May 2021, is now director of Operations, overseeing Claims and Underwriting, Operations, Outsourcing, and IT and Data functions. She was previously COO of Hiscox Special Risks, and has 15 years of international experience in (re)insurance and banking, spanning operations, risk management, compliance and supervision.
Stuart Logue has been appointed as Flood Re’s new CFO with effect from 1 March 2021, having taken up the interim post in October 2020. He has a “strong track record” in financial management across the financial services sector, with experience as CFO at emergency repairs business HomeServe Membership Ltd, and deputy CFO at insurer Ageas UK.
In addition, Emily White joined on 17 May 2021 as head of Catastrophe Modelling, bringing over 15 years’ experience in catastrophe risk modelling and management across insurance, public policy and alternative risk transfer. She joins from Lloyds Banking Group, where she led the Weather Modelling team.
Meanwhile, Jean Sharp joined as a non-executive director on 1 April 2021. She has over 20 years’ experience at Aviva, having most recently held the position of chief taxation officer. She currently holds a number of NED roles, including chair of the Audit Committee at Personal Assets Trust Plc, and Operations and Governance committee member of the RAC Pension Trustees Ltd.
It comes as Flood Re previously said it is “passionate” about improving gender diversity at senior levels of the organisation, with a target to achieve 25% female representation at board level by 2022. This target has now been achieved a year early, as Santolalla joins the team, and Flood Re will be revising this objective later in the year.
Andy Bord, CEO of Flood Re, said: “I am proud to announce these four new appointments and am excited to welcome them to the team. I am confident they will do great things here, building on the fantastic work of our existing colleagues.
“They join at a pivotal time for Flood Re, as climate change and growing risks of flood damage put new pressures on insurers. I look forward to working with all of the team, and for the experience and insight they will bring with them.”