Question to the Department for Environment, Food and Rural Affairs:

To ask the Secretary of State for Environment, Food and Rural Affairs, what the annual salary of the Chief Executive of the Flood Re scheme will be; how that salary was determined; and from what budget funding for that salary will be drawn.

The salary of the CEO of the Flood Re Scheme is a matter for the Directors of Flood Re who undertook the recruitment, and the Association of British Insurers whose members are currently funding the project set up costs including staff costs. It was determined by reference to current market rates for a reinsurance company. The salary will in future be funded from the Flood Re income and be disclosed in its annual report and accounts, which will be laid before Parliament as a public document.