PhD Studentship: Finance Under Water? Assessing Flood Risk in Banking and Insurance Systems

Project details 

Flooding is one of the most pressing challenges facing the UK economy. As climate change intensifies, more homes and businesses are at risk, while insurers and banks struggle with growing financial exposure. When floods hit, they disrupt loan repayments, reduce property values, and undermine financial stability. Yet current stress-testing frameworks often overlook short-term, geographically concentrated climate shocks and their interaction with banking and insurance systems.

This PhD offers the opportunity to close these critical gaps by integrating cutting-edge flood science with financial economics. You will work at the frontier of interdisciplinary research, using high-resolution flood models alongside property data to build a dynamic picture of where flood hazards are concentrated and how they evolve over time. You will then connect these insights to loan portfolios and insurance datasets, developing innovative tools that reveal how flood risk can limit insurers’ protection, affect banks’ credit and liquidity.

The project will equip you with advanced skills in catastrophe modelling, spatial data analysis, and financial risk assessment. A research placement at Willis Towers Watson will give you experience in applying your findings to real-world decision-making in the insurance and banking sectors. You will also be able to work with the Environment Agency to ensure your research achieves strategic impact. 

Supervisors: Meilan Yan 

Secondary supervisors: John Hillier and Quihua Liang

Entry requirements 

Students should have, or expect to have, at least a 2:1 honours degree (or equivalent) with a UK Masters degree (with average programme mark of no less than 65%) or International equivalent.

English Language requirement of IELTS band 7.0 or above with not less than 7.0 in each component.

Applicants must meet the minimum English language requirements. Further details are available on the International website

Funding 

Studentship type – UKRI through Flood-CDT. The studentship is for 3.5 years and provides a tax-free stipend of £20,780 per annum plus tuition fees at the UK rate. Due to UKRI funding rules, no more than 30% of the studentships funded by this grant can be awarded to International candidates, but successful International candidates will have the difference between the UK and International tuition fees provided by the University. 

How to apply 

All applications should be made online via the above ‘Apply’ button. Under programme name, select Loughborough Business School. Please quote the advertised reference number: FCDT-26-LU7 in your application.

This PhD is being advertised as part of the Centre for Doctoral Training for Resilient Flood Futures (FLOOD-CDT).

Please note, that your application will be assessed upon: (1) Motivation and Career Aspirations; (2) Potential & Intellectual Excellence; (3) Suitability for specific project and (4) Fit to FLOOD-CDT. So please familiarise yourselves with FLOOD-CDT before applying. During the application process candidates will need to upload:

• a 1 page statement of your research interests in flooding and FLOOD-CDT and your rationale for your choice of project;
• a curriculum vitae giving details of your academic record and stating your research interests;
• academic transcripts and degree certificates (translated if not in English)
• a IELTS/TOEFL certificate, if applicable.

You are encouraged to contact potential supervisors by email to discuss project specific aspects of the proposed project prior to submitting your application. If you have any general questions, please contact floodcdt@soton.ac.uk.

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