At a Glance
- Tasks: Lead the underwriting process for specialty treaty reinsurance and grow the portfolio.
- Company: Dynamic reinsurance firm in London with a focus on innovation and collaboration.
- Benefits: Competitive salary, diverse workplace, and opportunities for professional growth.
- Other info: Join a diverse team committed to inclusivity and excellence.
- Why this job: Make an impact in the exciting world of specialty reinsurance and develop your skills.
- Qualifications: Bachelor’s degree or relevant experience in Reinsurance Underwriting.
The predicted salary is between 60000 - 80000 £ per year.
The specialty team in London underwrites a growing portfolio of specialty treaty reinsurance including marine, energy, terrorism and aviation. Reporting to the Head of Specialty, this position is responsible for day to day underwriting and developing the accounts.
Location: London - UK - Fenchurch
Job Responsibilities:
- Leads the underwriting process for treaty submissions while ensuring adherence to underwriting guidelines and contributes to growing the portfolio.
- Determines reinsurance coverage, terms, conditions, and pricing based on a thorough analysis of risk factors.
- Utilises financial modelling and analytical tools to assess the impact of transactions, projecting losses and determining appropriate pricing.
- Grows the reinsurance book of business by supporting the annual planning process for growing the overall reinsurance book with specific focus on the property and casualty treaties.
- Maintains accurate and organised records of reinsurance underwriting decisions, policy issuance, and client communications.
- Supports reinsurance business with sourcing, underwriting, and execution of assumed reinsurance business through other channels.
- Partners with the accounting team to close the financial accounting for the reinsurance book of business and accounts for reinsurance treaties in the financial statements.
- Works with claims to assess and facilitate the settlement of reinsurance claims, ensuring adherence to policy terms and conditions.
- Reviews reinsurance proposals, ensures accuracy and completeness of information, and conducts due diligence on the cedent’s underwriting practices.
- Underwrites reinsurance policy renewals, considering changes in risk factors, market conditions, and cedent performance.
- Evaluates risks associated with reinsurance proposals, considering factors such as the cedent’s portfolio, underwriting guidelines, and exposure limits.
- Negotiates terms and conditions with ceding companies to establish mutually beneficial reinsurance agreements, addressing any concerns or inquiries.
- Stays informed about market trends, competitive offerings, and industry benchmarks to make informed decisions and remain competitive in the reinsurance market.
Work Experience and Education:
- Bachelor’s degree or commensurate work experience considered.
- Demonstrable experience in Reinsurance Underwriting.
Specialty Reinsurance Underwriter in London employer: Dormont Manufacturing Co
Ryan Specialty is an exceptional employer located in the heart of London, offering a dynamic work environment that fosters professional growth and collaboration. With a strong commitment to diversity and inclusion, employees are encouraged to bring their unique perspectives to the table, enhancing the innovative spirit of the team. The company provides comprehensive benefits and opportunities for career advancement, making it an ideal place for those seeking a meaningful and rewarding career in specialty reinsurance.
