UK’s Flood Re appoints sustainability expert non-executive director

UK reinsurance pool Flood Re, set up as a joint initiative between the government and industry, has appointed sustainability expert Tony Ballance, chief strategy & regulation officer at Cadent Gas, to the board as a non-executive director. Ballance is also chairman of The National Forest Company and a trustee at The Soil Association.

Flood Re said the board will value Ballance’s sustainability expertise, as climate change continues to intensify and increase flood risk, ahead of the end of the scheme, which imposes a levy on insurers signed up to the scheme in exchange for flood reinsurance, due in 2039.

Judith Eden will step down as a non-executive director on the board after more than eight years.

Ballance said: “With the global climate crisis intensifying, effective flood risk management has never been more important. I am looking forward to using my experience, alongside the leadership team, to aid in the delivery of affordable and available home insurance for those in high flood risk areas.”