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Announcement of the Flood Re Chairman

Mark Hoban appointed as Flood Re ChairmanMark Hoban

Flood Re today announces the appointment of Mark Hoban, former Financial Secretary to the Treasury, as its first Chairman. Mark’s appointment is subject to regulatory approval.

Mark was appointed following an external competitive recruitment process conducted by Odgers Berndtson on behalf of the Association of British Insurers (ABI), industry CEOs and Flood Re CEO Brendan McCafferty.

Brendan McCafferty, Flood Re’s Chief Executive Officer, said:

"Mark’s appointment as Chairman of the Flood Re Board will bring significant benefits as we enter a crucial stage in the implementation of Flood Re. Mark brings a wealth of experience within both financial services and government, and I am very much looking forward to working with him.”

Mark Hoban said:

"Flood Re is an important initiative for both government and the insurance sector. It will help insurers continue to provide flood cover to high risk households and ensure that the cost of flood damage is met through an insurance solution. I am delighted to be its first Chairman and have the opportunity to take this new initiative forward.”

Huw Evans, ABI’s Director General, commented:

"Flood Re is a world-first partnership between the state and insurance sector. In selecting its first Chairman, the Appointment Panel was looking for an individual who combined strong ministerial and parliamentary experience with a clear understanding of the insurance industry. I am delighted Flood Re will have someone of Mark's calibre to lead its board.

If you have any questions or would like further information, please contact Remi Olaiya, Communications Manager, Flood Re - Remi.olaiya@abi.org.uk tel: 020 7216 7645.

Last updated 01/07/2016