This public procurement record has 3 releases in its history.

Award

07 Jul 2026 at 09:43

Award

23 Jun 2026 at 13:51

Tender

10 Nov 2025 at 11:59

Summary of the contracting process

Flood Re Limited, a central government public authority based in London, has completed its procurement process for the appointment and onboarding of an investment manager. The tender, titled "Investment Manager Appointment and Onboarding," involved managing £1 billion of Flood Re’s assets with an emphasis on strong brand and insurance asset management expertise. The contract was awarded via an open procedure, a common procurement method for such services. The tender's main industry category was services, particularly reinsurance services, with a completion status and an original deadline set for 18th March 2026, while the contract is active from 3rd July 2026 to 2nd July 2031, with potential extensions up to July 2033. Aberdeen Group plc, based in Edinburgh, was awarded the contract, indicating a business relationship between organisations across the UK regions of UKI31 and UKM75.

This contract represents a significant opportunity for asset management institutions specializing in insurance asset management capabilities. The eligibility for this contract signifies potential areas for business growth, especially for those firms that can demonstrate a strong alignment with the procurement criteria which includes quality and price. While large-scale businesses like Aberdeen Group plc have successfully secured this contract, there’s a clear indication for other large asset management firms with substantial capabilities in risk management and investment strategy to explore similar opportunities. The open procedure used in this tender is welcoming for competent firms ready to enter into partnership relations with government bodies to manage substantial investment portfolios.

How relevant is this notice?

Notice Title

Investment Manager Appointment and Onboarding

Notice Description

FloodRe appointed a reputable asset manager for its PS1bn of assets. Looking for a partnership relationship with an asset management institution with strong brand and insurance asset management capabilities to assist in managing our investments in line with our investment risk appetite.

Lot Information

Lot 1

Renewal: 10 years minimum contract with the option to extend for an additional 36 months subject to approval.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-05dd8c
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/063506-2026
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
UK7 - Contract Details Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66700000 - Reinsurance services

Notice Value(s)

Tender Value
£4,550,000 £1M-£10M
Lots Value
£4,550,000 £1M-£10M
Awards Value
£2,625,000 £1M-£10M
Contracts Value
£2,625,000 £1M-£10M

Notice Dates

Publication Date
7 Jul 20261 weeks ago
Submission Deadline
22 Dec 2025Expired
Future Notice Date
Not specified
Award Date
18 Mar 20264 months ago
Contract Period
2 Jul 2026 - 2 Jul 2031 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Active
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
FLOOD RE LIMITED
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
EC4N 7BE
Post Town
Central London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified

Local Authority
City of London
Electoral Ward
Candlewick
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

ABERDEEN GROUP

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

JSON Markdown

The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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