Flood Re assigned A- S&P rating

UK state-backed flood reinsurer Flood Re has been assigned a
preliminary A- financial strength rating by Standard &
Poor's (S&P).
The company is set to go live on 4 April.
S&P said it viewed the group's business risk profile as
satisfactory and its financial strength profile as strong. The
rating agency noted that Flood Re's business risk profile was
limited by its dependence on significant amounts of reinsurance for
its business model to operate successfully.
In February, Flood Re s