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Flood Re posts £48.8m profit as it backs 353,000 flood policies
The UK flood insurance scheme reported £1.07 billion in invested and liquid assets and a Solvency Capital Ratio of 324% for the year ended March 31, 2026.
Flood Re, the joint government and insurance industry scheme that helps eligible UK households access flood insurance, reported a profit before tax of £48.8 million for the year ended 31 March 2026, according to its Annual Report and Accounts published by Reinsurance News.
The scheme said it now supports an estimated 353,000 policies and has helped more than 742,000 households since launch, while invested and liquid assets stood at £1.07 billion and its Solvency Capital Ratio rose to 324%.
Flood Re also reported that around 23% of properties ceded during the year had not previously been ceded to it, adding that it continues to reach new households seeking affordable coverage.
Looking ahead, Flood Re said it is pursuing reforms to better target support to households most in need, strengthen property-level flood resilience, and support a transition to a sustainable flood insurance market ahead of the scheme’s planned end in 2039, and it noted that Bridget Rosewell CBE will step down as Non-Executive Director and Chair once a successor is appointed.