Flood Re reports £130m pre-tax profit

road-closed-flooding

Flood Re has assisted 127,326 policyholders in getting flood cover for their homes in its first year of operation according to the provider’s results ended 31 March 2017.

The results also showed that Flood Re made a pre-tax profit of £130m having collected £180m levy income and a gross written premium of £28m. Profit after tax was £104.1m.

The organisation noted that “relatively benign weather since the scheme’s launch” on 4 April 2016 has resulted in few claims being made.

Its operating and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: