Red flag is flying round end of bayou as protection for swimmers (10)

I believe the answer is:

lifeguards

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'protection for swimmers' is the definition.
I can't tell whether this definition defines the answer.

'red flag is flying round end of bayou' is the wordplay.
'flying' indicates anagramming the letters (letters fly around into new positions).
'round' indicates putting letters inside.
'end of' suggests the final letters.
The last letter of 'bayou' is 'u'.
'red'+'flag'+'is'='redflagis'
'redflagis' anagrammed gives 'lifegards'.
'lifegards' placed around 'u' is 'LIFEGUARDS'.

'as' acts as a link.

Can you help me to learn more?

I've seen this clue in The Times.

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