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International

Flood Re eyes $3.26 billion reinsurance cover

July 07, 2015 Reprints

Flood Re, the U.K. government's flood reinsurance pool, is looking to purchase £2.1 billion ($3.26 billion) of retrocessional reinsurance cover that is expected to include collateralized or insurance-linked securities markets, reported Artemis.bm citing the Financial Times.

Flood Re is expected to look for a cover of between three and five years.

Flood Re's reinsurance purchase will be welcomed by both reinsurers and the ILS market, reported Artemis.bm.

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Flood Re eyes $3.26 billion reinsurance cover

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