Flood Re names ex-HSBC exec Thomas as permanent CEO

By Rebecca Delaney

March 3 - (The Insurer) - UK reinsurance backstop Flood Re has named Perry Thomas as CEO, succeeding Stuart Logue, who has held the role on an interim basis since August 2024.

Logue, who previously served as Flood Re's chief financial officer for close to four years, is now set to exit Flood Re.

He had stepped into the interim role following last year's exit of Andy Bord, who had led Flood Re for seven years.

The appointment is effective immediately, subject to regulatory approvals.

As CEO, Thomas' immediate priorities include strengthening stakeholder relationships, implementing strategic initiatives to improve the resilience and sustainability of flood insurance, and leading Flood Re through its next phase of development, with a focus on stability and effective response to recent flooding events and the impacts of climate change.

Perry has served as non-executive director at Flood Re and chair of the risk and capital committee since October 2021.

He has also served as non-executive director and chair of the audit and risk committee for UK and European holding companies at Assurant.

Prior to board roles, Thomas was divisional chief risk officer, insurance, and enterprise risk director, wealth at Lloyds Banking Group. He spent six years at HSBC, latterly as CEO of UK insurance.

"Having been part of the organisation for the past few years, I have seen first-hand the positive impact that Flood Re can make," said Thomas.

"I am committed to working with the Flood Re team, insurers and government bodies to continue improving flood insurance accessibility and affordability, especially in light of recent flooding events and the potential impacts of climate change that underscore the importance of Flood Re’s mission."