Written Correction
Ministerial Correction
Environment, Food and Rural Affairs
(1 day, 18 hours ago)
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Emma Hardy
By using existing capital, Flood Re Ltd is keeping the increase to 18%, while its reinsurance costs are expected to more than double. The reduction from £140 million a year to £135 million a year three years ago also demonstrates Flood Re Ltd’s commitment to its responsibility for keeping the levy as low as possible.
[Official Report, Fourth Delegated Legislation Committee, 26 February 2025; c. 4-5.]
Written correction submitted by the Under-Secretary of State for Environment, Food and Rural Affairs, the hon. Member for Kingston upon Hull West and Haltemprice (Emma Hardy):
Emma Hardy
By using existing capital, Flood Re Ltd is keeping the increase to 18%, while its reinsurance costs are expected to more than double. The reduction from £180 million a year to £135 million a year three years ago also demonstrates Flood Re Ltd’s commitment to its responsibility for keeping the levy as low as possible.