Company Description
Flood Re is the Scheme Administrator for the UK Flood Reinsurance Scheme, providing flood peril reinsurance cover for eligible homes across the UK. Established by the Water Act 2014 as a joint initiative between the UK Government and the insurance industry, Flood Re operates as a mutual reinsurer limited by guarantee. Its purpose is to improve the availability and affordability of flood insurance while supporting a long-term transition to risk-reflective pricing. Flood Re offers reinsurance to insurers at subsidised fixed rates, financed through a levy on UK household insurers and the purchase of an outwards reinsurance programme. The Company has been authorised by the PRA and FCA and has been fully operational since April 2016.
Purpose
Flood Re has a high profile in the industry and more widely. Consequently, the role is expected to maintain a credible, influential and high-profile persona in the insurance, reinsurance and wider risk transfer markets.
Flood Re has a finite life and has to promote and enable a market transition by 2039 with the goal of reducing the cost of flooding and thus flood insurance without the benefit of the levy; the role plays a key role in delivering this plan and creating options for policymakers to maintain a functioning market beyond 2039.
To enable Flood Re’s success, the role must have exceptional technical and leadership skills, as well as high levels of credibility, political and commercial acumen and grasp of policy, regulatory and environmental issues. The role-holder will need to form effective relationships with parliamentarians, civil servants and other stakeholders.
The role requires a collaborative style, whilst setting a clear sense of vision and strategy and building trust and quickly gaining buy-in. This approach will be as important inside Flood Re as it is externally.
This role will actively plan, execute and support relevant stakeholder engagement in Flood Re’s strategy for risk transfer and wider ongoing scheme viability plans and specifically:
Principal Responsibilities
§ In conjunction with the Head of Reinsurance, manage, and optimise the value to Flood Re of, relationships with current and potential brokers, reinsurers, risk transfer counterparties and associated market participants (travelling as required).
§ Execute Flood Re’s plans for reinsurance buying.
§ Oversee and deliver stakeholder engagement activities to maximise commercial value and control reinsurance decisions.
§ In conjunction with colleagues across the business, ensure Flood Re maximises commercial value, controlling risk exposure, and ensuring efficient capital usage.
§ Work collaboratively with the Exposure Management operations of the business.
§ Drive Flood Re’s strategy to deliver its long-term statutory purpose objectives, whilst enabling its people to be and do their best and nurturing a high-trust, collaborative culture.
§ Lead the development and delivery of the reinsurance team’s stakeholder management plan covering both internal stakeholder engagement across all Flood Re teams, ExCo, Board and support development of external stakeholder management plan with the Policy, Government and Corporate Affairs Teams.
§ Support in planning and operationalising changes in the Risk Transfer Structure, managing stakeholders across the company and supporting teams impacted by the changes through updates in their processes and approaches.
§ Support across the reinsurance team and wider Flood Re teams drawing together and monitoring key metrics (gross exposure/claims/capital) which will inform broader Risk Transfer and Scheme Viability plans.
§ Support strategy and planning for the next broker procurement exercise including managing and working with stakeholders across Flood Re (particularly actuarial/cat modelling) who utilise elements of the current broker contract.
§ Oversee planning and strategy for outwards reinsurance and risk transfer procurement processes, including working with Flood Re Legal team, brokers and external procurement specialists to optimise the approach to future RI procurement.
§ Attend the Flood Re Executive Committee (ExCo) as needed and operate as part of the Senior Leadership Team (SLT), collaborating with colleagues to set the strategy for Flood Re for risk retention, risk transfer and capital usage for the overall benefit of its members, as well as meeting Flood Re’s public purpose.
§ Ensure the economic, efficient and effective use of Scheme resources in discharging its functions, and that it operates with propriety and integrity.
§ Provide inspiration, support, constructive challenge and compassionate leadership to Flood Re employees and curate and embed a culture within Flood Re which is consistent with its values and public policy purpose and is characterised by high levels of trust and psychological safety.
§ Play a leading role in day-to-day insurance industry and Flood Re member engagement with a view to ensuring the industry maximises its return on investment.
§ Ensure adherence to the requirements of being a public body.
§ As a First Line of Defence “risk owner”, continuously identify, monitor, manage and report risks and controls within agreed risk appetites and tolerances. This will include working with the Risk Team on periodic risk review deep-dives, using the assessment methodology developed by the Risk Team, and ORSA preparation.
§ Play a supporting role in the effective embedding of a robust 3 Lines of Defence model characterised by high levels of individual and collective accountability, constructive and transparent communications between and amongst each of the lines of defence and which enables Flood Re to capitalise safely on opportunities and anticipate and manage its risks appropriately.
§ Identify and report to the Risk Team emerging risks which may have a relevance to Flood Re and ensure others do likewise.
§ As a senior leader, be personally accountable for and an ambassador for Information Security, leading by example to instil a security-aware and diligent culture by representing and promoting Information Security policies.
Knowledge, Skills and Experience
§ Outstanding organisational, planning and stakeholder management skills.
§ Ability to consider future scenarios of stress and strain to the Flood Re Scheme to identify and drive forward measures to increase its resilience.
§ Proven proficiency in project/programme management and driving continuous improvement.
§ Track record of successfully delivering against, monitoring and reporting upon strategic priorities.
§ Proven excellent relationship management, people and interpersonal skills, including in the context of cross-functional teams.
§ Ability to quickly develop strong relationships with external stakeholders and account for their expectations and views in Flood Re’s planning and strategy in this space
§ Relevant business experience in the insurance/financial services industry.
§ Methodical, diligent and detail-oriented, with excellent analytical skills and the ability to analyse and interpret information quickly.
§ Excellent root cause analysis and problem-solving skills and the ability to make critical decisions with little information available.
§ Ability to work flexibly and to adjust goals and priorities.
§ IT skills MS office including PowerPoint, Word & Excel.
Additional potential requirements for discussion:
§ Proven leadership experience in reinsurance or a related field.
§ Strong strategic thinking and ability to set and execute reinsurance strategies.
§ Excellent stakeholder management and influencing skills.
§ Ability to represent the company at industry events and engage with key external stakeholders.
§ Experience in managing people and ensuring consistent application of management discretion.
§ Knowledge of market and pricing science developments in reinsurance.
§ Strong understanding of portfolio risk and profitability.
§ Ability to identify, document, and manage risks and issues related to reinsurance.
Qualifications
§ An understanding of actuarial techniques for analysing experience.
§ Strong knowledge of reinsurance frameworks for retail and wholesale protection products and current reinsurance market dynamics.
§ Appreciation of how assumption, pricing and reinsurance recommendations will impact core financial metrics.
§ Experience of managing reinsurance relationships (internal & external) to maximise commercial results with strong interpersonal skills.
§ Balancing strategic goals with immediate priorities, setting clear targets to achieve progress against both.
§ Taking ownership, delivering with drive & enthusiasm.
§ Excellent people-management and leadership skills to enable the team to take ownership and deliver with drive & enthusiasm.
§ Strong stakeholder management skills both internal and external.
Closing date: 10 July 2026. We encourage early applications, as we may close this role ahead of the advertised date if a suitable candidate is identified.
Interviews are expected to take place week commencing 13 July 2026 , with shortlisted candidates contacted in advance with further details.