Reinsurance News
Flood Re
Flood Re calls for united push to mainstream Property Flood Resilience
13th October 2025
Flood Re has urged government, insurers, lenders, and homeowners to join forces to make Property Flood Resilience (PFR) mainstream, warning that simple, affordable measures could protect millions of homes and save the UK economy as much as £740 million a year. This comes from new analysis undertaken by JBA in collaboration ... Read the full article
Flood Re adds Murphy as Independent Non-Exec. Director and Mulry-Lawson as Interim CRO
5th September 2025
Flood Re, the UK government-backed scheme funded by the insurance industry to improve access to affordable flood insurance, has appointed Michael Murphy as Independent Non-Executive Director and Sue Mulry-Lawson as Interim Chief Risk Officer (CRO). Mulry-Lawson's appointment as Interim CRO follows the recent promotion of Dan Byrne to Chief Commercial ... Read the full article
Policies ceded to Flood Re hit record high in 2024/25
21st July 2025
Flood Re, the UK government-backed scheme funded by the insurance industry to improve access to affordable flood insurance, has reported a record 20% increase in policies ceded, reaching 346,200 for the year ending 31 March 2025. Now in its tenth year, Flood Re has helped over 660,000 households secure flood insurance ... Read the full article
Flood Re strengthens senior executive team with three appointments
11th July 2025
The Board of the UK flood reinsurance scheme, Flood Re, has appointed Latinka Pilipovic as Chief Financial Officer (CFO) and Board member, effective August 1st, 2025, subject to regulatory approval. Simultaneously, Dan Byrne, the Chief Risk Officer (CRO), has been promoted as Chief Commercial Officer and Max Bero, currently Director of ... Read the full article
Flood Re secures £140m in flood retro with debut cat bond
17th March 2025
To bolster its financial resilience against UK flood risks, Flood Re has successfully launched its first catastrophe bond, Vision 2039 – Series 2025-1, securing £140 million in retrocession reinsurance coverage. This transaction is a first for the UK flood insurance scheme, and with it Flood Re marks its entry into ... Read the full article
Flood Re appoints Perry Thomas as CEO
3rd March 2025
UK flood reinsurance scheme, Flood Re, has announced that Perry Thomas has been appointed to take over from Stuart Logue as its new Chief Executive Officer (CEO), effective immediately, subject to regulatory approvals. Logue previously served as Flood Re's Chief Financial Officer (CFO), and was named Interim CEO last year ... Read the full article
UK needs £1bn+ annual flood defence investment to tackle climate risks, experts warn
10th February 2025
The UK urgently needs long-term flood defence investment exceeding £1 billion per year to keep pace with climate risks, according to analysis by flood risk modelling firm Fathom, which Flood Re, a joint initiative between the UK Government and the insurance industry, commissioned. The research has revealed that existing flood defences ... Read the full article
Flood Re launches Flo to promote property flood resilience across Scotland
21st January 2025
Flood Re is launching a new Flood Bus, named Flo, as part of a nationwide initiative in Scotland to promote property-level flood resilience and help communities prepare for future flooding events. The vehicle will be launched at the annual Scottish Flood Resilience conference on January 28-29, hosted by Sniffer, the Scotland ... Read the full article
Pen Underwriting signs up to Flood Re’s Build Back Better Scheme
5th December 2024
Pen Underwriting, a subsidiary of Arthur J. Gallagher & Co., has announced that its specialist home insurance practice has signed up to Flood Re’s Build Back Better scheme to reduce the impact of future flooding on its customers by helping to bolster their properties’ resilience. For those unaware, Flood Re launched its ... Read the full article
Flood Re & BIBA collaborate to promote Build Back Better scheme and property flood resilience
16th September 2024
Flood Re, a UK government-backed initiative that makes flood insurance more affordable, has partnered with the British Insurance Brokers’ Association (BIBA), the trade body for UK insurance brokers. Together, they aim to increase awareness within the broking community about the Build Back Better (BBB) scheme, highlight the importance of Property Flood ... Read the full article
Flood Re warns complex planning system threatens flood insurance for new builds
4th September 2024
While progress has been made in adopting flood mitigation measures for new builds in the UK, Flood Re warns that a lack of transparency, consistency, and clarity is undermining the insurance sector’s confidence in the planning system and threatening its ability to insure new properties against flood risk. Research by the ... Read the full article
Flood Re appoints Tony Ballance to Board of Directors
13th August 2024
Flood Re has appointed Tony Ballance to its Board of Directors as a Non-Executive Director, where his expertise in sustainability and regulation will reportedly be invaluable as climate change continues to intensify and increase flood risk, ahead of the Scheme’s exit from the market in 2039. Ballance is currently Chief Strategy ... Read the full article
Flood Re sees strong financial performance, securing profit of £23.8m
18th July 2024
Flood Re, the joint initiative between the UK insurance industry and the UK Government to promote the availability and affordability of flood insurance, has reported a "strong financial and operational performance" for the financial year 2023/2024, securing a profit before tax of £23.8 million. It's important to note, that 30% of ... Read the full article
Andy Bord to step down as Flood Re’s CEO, Stuart Logue named interim
6th June 2024
Flood Re, the joint initiative between the UK Government and the insurance industry, has announced its Chief Executive Officer, Andy Bord, will step down at its Annual General Meeting (AGM) in July 2024. The Board has appointed Stuart Logue, the current Chief Financial Officer (CFO), as interim CEO effective from July ... Read the full article
Flood Re to raise liability & loss limits to address evolving reinsurance and flood landscape
8th May 2024
Flood Re, the joint initiative between the UK Government and the insurance industry, has revealed changes to key scheme parameters aimed at ensuring the continued availability and affordability of flood insurance. According to Flood Re, these adjustments, agreed by the DEFRA Minister of State Robbie Moore MP, align with regulatory requirements ... Read the full article
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