Flood Re CEO Andy Bord will take over from John Chilman in October to oversee the £35bn multi-employer scheme for the UK railways industry.
Bord is currently CEO at Flood Re, a government-established reinsurance company aimed at improving flood insurance coverage in the UK.
He has led the company for seven years and will step down on 18 July.
From October, Bord will succeed John Chilman as CEO of Railpen, overseeing the multi-employer pension scheme’s £35bn investment operation and its administration service, which caters for 350,000 current and former railway workers as well as third-party clients.
Prior to joining Flood Re, Bord was CEO at Capita Insurance Services. He has also held senior positions and consulting roles at insurance and private equity companies.
Chilman announced his intention to retire in January after five years as CEO and 17 years of involvement with Railpen. He has been a trustee since 2007 and chaired the board between 2014 and 2019.
Christine Kernoghan, chair of the Railways Pension Scheme trustee board, said: “I would like to thank John for his significant contribution to rail pensions for many years and, more recently, his leadership of Railpen. John’s contribution to the futures of so many members cannot be understated.
“It was clear throughout the search process that Andy not only had the skills and experience needed to pick up the baton from John, but shared the trustee board’s and Railpen colleagues’ passion for great member retirement outcomes.”
Bord said: “I believe that good quality pensions can make a really positive impact in the lives of individuals and society. Railpen’s purpose naturally aligned with my own sense of the difference an organisation can make in the lives of the members it serves.
“I am proud and excited to not only lead an organisation full of talented people dedicated to its members and pensioners, but to also champion good pension provision on their behalf.”
