Andy Bord (pictured) will relinquish his role as chief executive officer of Flood Re at its annual general meeting next month. Stuart Logue, the current chief financial officer will become interim CEO, effective from 18th July, while a search is conducted for a permanent successor.

Bord said: “I am immensely proud of what Flood Re has achieved during my tenure. In the face of climate change, high inflation and cost-of-living pressures, our work has never been more critical. The world-first Build Back Better initiative we introduced is already delivering improved flood resilience for hundreds of homes and helping the country to prepare for the future.

“I believe that having overseen the arrival of a new chair, successfully introduced BBB and created the right platform to place the largest natural catastrophe reinsurance programme in Europe, that this is the right time to hand over the reins. It has been a privilege to lead this organisation and I am confident in its continued success.”