At a Glance
- Tasks: Lead pricing support for Casualty Reinsurance and collaborate with diverse teams.
- Company: Chaucer, a leading insurance group at Lloyd’s, committed to diversity and innovation.
- Benefits: Flexible working arrangements, competitive salary, and opportunities for professional growth.
- Other info: Join a dynamic team with excellent career advancement opportunities.
- Why this job: Make an impact in the insurance industry while developing cutting-edge pricing models.
- Qualifications: Qualified Actuary with strong analytical skills and experience in pricing.
The predicted salary is between 40500 - 49500 £ per year.
The Senior Pricing Actuary will lead pricing support for Casualty Reinsurance (North America and International) across London and international offices, managing a direct report. The role provides broad pricing support across all Treaty divisions and the Partnerships & Innovation team, working closely with divisional actuaries and colleagues across Property and Specialty Reinsurance to balance workloads, share expertise, and promote consistent pricing approaches.
The role is responsible for contributing to pricing KPI reporting and performance management for the Casualty Reinsurance portfolio, including reporting and presenting insights to Underwriting Committee level. As a highly collaborative, underwriter- and client-facing position, the Senior Pricing Actuary will support broker and reinsurer negotiations, provide individual case pricing expertise, lead the development of pricing models, enhance portfolio analytics capabilities, and drive strategic and pricing innovation initiatives. The role will also provide pricing support across other classes of business and Group-wide projects as required.
The successful candidate will bring excellent technical pricing expertise, alongside excellent project management and communication skills, enabling them to effectively support brokers and clients, manage multiple workstreams, influence stakeholders, drive new initiatives, and deliver clear and impactful reporting. Based within the London Pricing team, the Senior Pricing Actuary will work closely with underwriting teams and fellow pricing actuaries under the leadership of the Reinsurance Pricing Manager and Head of Pricing.
Main Duties
- Develop, support and provide oversight across pricing activities, working collaboratively with the Head of Pricing, Reinsurance Pricing Manager and other Pricing Actuaries.
- Account pricing and underwriter support for broker and reinsurer negotiations.
- Contributing to the Preparation of quarterly reports up to Underwriting Committee level ensuring that any deviations from targets are explained effectively and succinctly.
- Line management of one direct report.
- Outwards reinsurance optimisation.
- Pricing model and other tool development, in line with Actuarial pricing frameworks and technological solutions.
- Pricing analytics and MI development and making use of available data to support risk selection and portfolio optimisation more generally.
- Support for deep dives, model usage reviews, portfolio monitoring / steering.
- Train underwriters in use of models, review their work and supervise model development by underwriting staff.
- Ensure alignment of pricing with evolving exposure management practices and ‘Own View of Risk’ frameworks.
- Provide input into the development of modelling approaches where appropriate.
- Development of a deep understanding of the Treaty classes, trends and underwriting team strategies.
- Keep abreast of industry initiatives, provide thought leadership, develop new pricing/visualisation techniques and best practice where opportunities arise.
- Work collaboratively with underwriters, the pricing team and underwriting management.
- Present and share knowledge with the wider Actuarial team on pricing approaches.
- Assistance for other pricing team activities as required.
- Project management of more junior team members & actuarial contributions to cross functional projects.
Skills and Competencies
- Extensive London Market pricing experience.
- IT skills, including comprehensive knowledge of Excel.
- Desirable Project Management and Management experience.
- Reporting experience to Senior Management.
- Predictive analytics working with large datasets.
- Python, SQL, VBA, R.
Education
- Qualified Actuary (FIA).
- 2.1 or 1st degree in Mathematics or Mathematics-related subject (e.g. Physics, Engineering, Statistics).
- 3 or more ‘A’ levels, including Maths.
Personal Attributes
- Stakeholder and project management skills.
- Interpersonal, verbal and written skills.
- Able to collaborate, work as a team and communicate with staff at all levels.
- Intellectually curious and results-oriented with a strong sense of responsibility.
- Attention to detail.
- Self-motivated, hard-working and committed.
- Flexible and adaptable approach.
Senior Pricing Actuary - Casualty Reinsurance in London employer: Chaucer Group
Chaucer Group is an exceptional employer that prioritises employee development and collaboration, particularly in the dynamic role of Senior Compliance Monitoring & Assurance Lead. With a hybrid work model based in London, we foster a supportive work culture that encourages strategic thinking and innovation, while providing ample opportunities for professional growth and engagement with senior management to drive meaningful improvements across our compliance framework.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Pricing Actuary - Casualty Reinsurance in London
✨Dive Into Industry Networking Events
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We think you need these skills to ace Senior Pricing Actuary - Casualty Reinsurance in London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Chaucer Group.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Chaucer Group. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Chaucer Group
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Chaucer Group to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Chaucer Group, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Chaucer Group's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
