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Find a TenderAwardedContract details notice
Published 10 Nov 2025, 11:59 GMT

Official UK procurement notice

Investment Manager Appointment and Onboarding

Official notice

Authority: FLOOD RE LIMITED (Central government)

ServicesOpen procedureAbove thresholdSME suitable
Sectors: Financial and insurance services (66) Delivery: UK
Published estimate£4,550,000≈ £455k / year · £5,460,000 inc. VAT42.3% below published estimate
Submissions closed 22 Dec 2025awarded 18 Mar 2026
Awarded to aberdeen group plc
Contract term 10 yrsends 1 Apr 2036 · up to 2 Apr 2039 with extensions · starts 1 Apr 2026

What is being bought

Published requirement description

FloodRe appointed a reputable asset manager for its £1bn 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.

CPV: Reinsurance services

The lotProcurement structure

single lot · value published
Lot #1AwardedRenewal 10 yrsSMEPublished value£4,550,000
Contract period: 1 Apr 2026 – 1 Apr 2036 (10 yrs) · up to 2 Apr 2039 with extensionsValue: £4,550,000 exc. VAT · £5,460,000 inc. VAT
Delivery: UKEligibility: SME eligible
Extensions: 10 years minimum contract with the option to extend for an additional 36 months subject to approval.
66700000 Reinsurance services

What it takes to win
i

How this buyer will score bids.

The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).

Evaluation split and conditions of participation as published; the tender pack may add more
How bids were scored
Quality: 80%Price: 20%
Published sub-criteria (4)
  • Capability: 50%
  • Culture: 20%
  • Support: 10%
  • Price: 20%
Published award criteria (4)
  • Capability
  • Culture
  • Price
  • Support
What this means for your bid
  • Price carries 20 of 100 points: a 10% discount moves about 2 points. The method statement decides this lot, not the discount.

Price arithmetic assumes straight proportional scoring; the tender pack may use another formula.

Procedure terms & legal framework

From the official record
Procedure method
Open procedure
Legal basis
UKPGA · 2023/54 Procurement Act 2023
Procurement category
Services
Notice status
Awarded
Procurement threshold
Above threshold (FTS publication)
Regulatory regime
Standard
Commercial structure
Stand-alone contract (no framework)
Competition type
Competitive procedure
GPA / WTO covered
Unspecified in notice
Recurring procurement
Unspecified in notice
First published
10 Nov 2025, 11:59 GMT
Last source update
7 Jul 2026, 10:43 BST
Award evaluation window
Submission end – 18 Mar 2026
FTS notice number
2025/S 000-072348
Latest notice
Contract details notice (UK7)
Classification (CPV)
Reinsurance services
Delivery area
UK
Official registry OCID
ocds-h6vhtk-05dd8c Find a Tender

How it was run

Official notice
Run through: portal not identified
Electronic submission allowedLanguage: EN
Submission deadline
22 Dec 2025, 12:00 GMT
Submission channel
Official e-sourcing portal
Electronic submission
Allowed
Accepted languages
en
Detailed submission instructions & authority contactsFrom official release

procurementsolutions.esourcingportal.com/current_opportunitie… ↗

Timeline

10 Nov 2025 → 7 Jul 2026 · 6 dates
  1. Tender notice published350 days ago
    10 Nov 2025, 11:59 GMT
  2. Submission deadline308 days ago
    22 Dec 2025, 12:00 GMT
  3. Assessment summaries sent223 days ago
    18 Mar 2026
  4. Award decision expected by222 days ago
    18 Mar 2026, 23:59 GMT
  5. Contract starts209 days ago
    1 Apr 2026, 00:00 BST
  6. Latest notice published112 days ago
    7 Jul 2026, 10:43 BST

Notice history

5 events · 3 releases on Find a Tender · since 10 Nov 2025
  1. Tender notice published
    10 Nov 2025, 11:59 GMT
    UK4
  2. Contract award notice published
    23 Jun 2026, 14:51 BST
    UK6
  3. Status changed to complete
    23 Jun 2026, 14:51 BST
  4. Contract signature expected
    3 Jul 2026, 23:59 BST
    scheduled
  5. Contract details notice published
    7 Jul 2026, 10:43 BST
    UK7

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast
Awards 1
Awarded value £2,625,0001 award exc. VAT
Bids received 18
Contracts signed 1latest 3 Jul 2026
Awarded toValueDateStatus
aberdeen group plc3 Jul 2026 – 2 Jul 2031 · up to 1 Jul 2033Extensions: 5 years minimum contract with the option to extend for an additional 24 months subject to Board approval£2,625,00018 Mar 2026Awarded

Contracts

  • Contract 1 · aberdeen group plc

    Signed
    3 Jul 2026
    Value
    £2,625,000
    Period
    3 Jul 2026 – 2 Jul 2031 · up to 1 Jul 2033 with extensions
    Status
    active
    Extensions
    Possible 2 year extension

    No agreed KPIs: Contract is below £5m

Bid statistics published by the authority

BidsSMEVCSEValid bid range
18final-stage tenders00—

Contracting authority & participating public bodies

FLOOD RE LIMITED

Contracting authorityPublic authority - central government GB-COH: 08670444 · GB-PPON: PHQQ-4765-PRCH 75 King William Street, London, London, EC4N 7BEContact email

Bidders & participating suppliers

1 commercial party on the notice
  • aberdeen group plcAwarded supplierGB-COH: SC286832GB-PPON: PRMJ-4297-QMHJ 1 George Street, Edinburgh, Scotland, EH2 2LLContact email

Official documents & specifications (3)

Official links; attachments are not copied

Notices published for this procedure

  • Contract details notice contractContract details noticeUK7Contract details notice on Find a Tender
  • Contract award notice awardContract award noticeUK6Contract award notice on Find a Tender
  • Tender notice tenderTender noticeUK4Tender notice on Find a Tender