Flood Re said March 31 that it received approval from the U.K.Prudential Regulation Authority and Financial Conduct Authority to begin its operations.

The U.K. government-backed flood insurance scheme will go liveApril 4.

"A list of insurers that will be using the scheme will beavailable on the Flood Re website from the evening of [April 1]," said FloodRe CEO Brendan McCafferty.