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20 more insurers join U.K.'s Flood Re scheme

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The number of insurers that have signed to participate in the U.K. government's flood reinsurance scheme has risen to 36 insurers, up from 16 when it was first launched on April 4, reported Xprimm.com.

These 36 insurance companies represent 85% of the overall market. "We are talking to more insurers and expect this number to rise from the present level of 36 over the remainder of 2016," said Flood Re chief executive Brendan McCafferty.

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