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Tom Woolgrove to become Interim CEO of Flood Re

Tom Woolgrove has been appointed Interim CEO of Flood Re after a meeting of the Flood Re Project Board today.

He will transition into the role by May and remain in place until the permanent CEO joins. Mr Woolgrove has decided not to apply for the permanent post that is currently being recruited for by Russell Reynolds Associates.

In his new role, Tom Woolgrove will lead preparations for the regulatory authorisation of Flood Re, the building of its systems and the start of the procurement process.

Tom Woolgrove has been closely involved in the insurance industry’s response to flooding since leading the negotiations for the renewal of the Statement of Principles in 2008.

He represented the industry in the negotiations with ministers that led to the framework agreement on Flood Re and has co-chaired the Flood Re Project Board overseeing the project since September. 

Craig Thornton, CEO of General Insurance at Lloyds Banking Group will chair the Project Board going forward.

Otto Thoresen, ABI Director General said:

"Tom has always been a key player in the industry response to flooding and is well known and respected by ministers, regulators and other stakeholders. He was critical to the development of the Flood Re model and his leading the project on an interim basis makes it all the stronger.

"We are delighted to have his experience and leadership skills on board for this stage of the project delivery."

Last updated 01/07/2016