Flood Re

Flood Re Limited ("Flood Re" or "the Company") is the Scheme Administrator for the Flood Reinsurance Scheme (Flood Re Scheme) and is principally engaged in the provision of flood hazard reinsurance cover within the UK. The Flood Re Scheme is a joint initiative between the UK insurance industry and the UK Government. The Flood Re Scheme was established by the Water Act 2014. Further details of the Scheme can be found on the Company's website at www.floodre.co.uk. Flood Re's purpose is to promote the availability and affordability of flood insurance for eligible homes, while minimising the costs of doing so, and manage, over its lifetime, the transition to risk-reflective pricing for household flood insurance. In order to do this, Flood Reinsurance provides cover at a subsidised rate authorised by the Flood Reinsurance Authority to insurers, resulting in a fixed financial loss limit expected under each year. The Flood Reinsurance Scheme was launched by the UK Flood Reinsurance Regulatory Authority on 11 April 2016 ("Flo