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      EnglishEspañolFrançaisKreyòlTiếng Việt简体中文한국어  Flood Insurance
              
              
                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    

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                      The Watermark Report- NFIP Financial Statements
              
                                  
            
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          The Watermark - National Flood Insurance Program Financial Statements
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The Watermark is a quarterly report that provides transparency on the financial state of the National Flood Insurance Program (NFIP). This report provides information about the NFIP to interested groups and individuals, such as policyholders, industry partners and government officials.



Download the Latest Watermark - Fourth Quarter FY2022PDF Link Icon



Statistics



**Current as of *Sept. 30, 2022***



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22,594



Participating Communities



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$935



Average Annual Premium(Incl. Premium & Federal Policy Fee)



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$1.28 Trillion



Total Coverage of NFIP Policies



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4.719 Million



Number of NFIP Policies in Force



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$16.1 Billion



Capacity to Pay Claims



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$20.5 Billion



Outstanding Debt with Treasury



Featured News


Rising Interest ExpensesOn Sept. 30, 2022, the NFIP made a semi-annual interest payment of $300 million to the U.S. Treasury. With this payment, the NFIP has now paid over $5.7 billion in interest since Hurricane Katrina hit the United States in 2005.
    NFIP Modifies Benefit-Cost Ratio for Community Grant ProgramsThere is a Benefit-Cost Analysis (BCA) requirement to access funding through FEMA’s Hazard Mitigation Assistance (HMA) grant programs. The BCA is the method used to calculate the future risk reduction benefits of a hazard mitigation project and compares those benefits to its costs.
  
          See News from Previous Watermarks

        Displaying 1 - 2 of 2



NFIP Available Funds - as of 9/30/2022



The NFIP’s Available Resources provides information similar to a “Balance Sheet” used in the private sector. It is a snapshot of the program’s finances, including any prior period carryover for the given period.



**AVAILABLE RESOURCES** **($ in Thousands)******June 30, 2022******Sept. 30, 2022**Flood Fund Balance7,077,5747,458,097Unpaid Obligations(864,556)2,492,673Unpaid Loss & Loss Adjustment (Claims)(244,722)(6,634,107)Mandatory Sequestration(74,499)(74,499)**Flood Fund Available Resources********5,893,796********3,242,164**Reserve Fund Balance740,560840,764Net Investments2,415,6712,421,560Outstanding Obligations(410,271)(317,506)**Reserve Fund Available Resources********2,745,960********2,944,818****Remaining Borrowing Authority******9,900,000********9,900,000******NFIP Total Capacity to Pay Claims *********18,539,756********16,086,983*** FEMA’s reinsurance placements augment the NFIP’s Available Resources. After qualifying losses for a single event exceed $4 billion, the NFIP may collect up to $2.48 billion should the event reach $10B in losses.



Statement of Operations - as of 9/30/2022



National Flood Insurance Fund ($ in Thousands)



**REVENUE****FY 2021****FY 2022 Q4****FY 2022 YTD**Premium3,521,288863,1003,244,810Reinsurance000Federal Policy Fee187,76057,192193,483Other Revenue13,6937,30315,870Total Flood Fund Revenue3,722,741927,5953,454,163**EXPENSES****FY 2021****FY 2022 Q4****FY 2022** **YTD**Total Loss & Loss Adjustment (Claims)1,369,003138,3171,602,835Incurred But Not Reported Claims525,5456,433,1415,400,772Commissions*59,33016,46056,461Write Your Own (WYO) Expense Allowance*938,959186,610837,669Interest on Debt356,81378,976300,437Floodplain Management & Mapping Activities223,42760,520177,793Flood Related Grant Activities239,305130,267181,063Other Expenses246,315(3,402,876)(3,227,427)Total Flood Fund Expenses3,958,6973,641,4155,329,603**FLOOD FUND NET INCOME (LOSS)******(235,956)****(2,713,820)****(1,875,440)**National Flood Insurance Reserve Fund ($ in Thousands)



**REVENUE****FY 2021********FY 2022** **Q4********FY 2022 YTD**Assessment613,150171,162603,212Surcharge307,96591,090311,234Return on Investment77,3322,36013,283Total Reserve Fund Revenue998,447264,612927,729**EXPENSES****FY 2021********FY 2022 Q****4****FY 2022** **YTD**Total Loss & Loss Adjustment (Claims)000Reinsurance-Traditional198,19342,979177,899Reinsurance-ILS193,52348,355187,850Obligations and Other Expenses51,990-18,54464,145Total Reserve Fund Expenses443,70672,790429,894**RESERVE FUND NET INCOME (LOSS)******554,741******191,822****497,835*** The FY 2022 Commissions and Taxes of Agents (Commissions and WYO Expense Allowance) include $17,387 of FY 2021 expenses resulting from the typical two-month lag time between when financial data is received and when it is reported on the financial statements.



** Because of the NFIP’s current structure of premium discounts, interest expenses on debt, and loss concentrations, net losses are anticipated.



Download Watermark Reports



2022



Watermark Fourth Quarter 2022Watermark Third Quarter 2022Watermark Second Quarter 2022Watermark First Quarter 2022



2021



Watermark Fourth Quarter 2021Watermark Third Quarter 2021Watermark Second Quarter 2021Watermark First Quarter 2021



2020



Watermark Fourth Quarter 2020Watermark Third Quarter 2020Watermark Second Quarter 2020Watermark First Quarter 20202019



Watermark Fourth Quarter 2019Watermark Third Quarter 2019Watermark Second Quarter 2019Watermark First Quarter 2019



View Previous Watermark Reports
Last updated March 6, 2023

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