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- Tasks: Lead the underwriting process for specialty treaty reinsurance and analyse risk factors.
- Company: Join a dynamic team at a leading reinsurance firm in London.
- Benefits: Competitive salary, inclusive culture, and opportunities for professional growth.
- Other info: Diverse workplace committed to equity and inclusion.
- Why this job: Make an impact in the reinsurance industry while developing your skills.
- Qualifications: Bachelor’s degree required; 5+ years in Reinsurance Underwriting preferred.
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 Vice President, 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 required, Master’s degree preferred; Statistics, Economics and Risk Management preferred. Any other related discipline or commensurate work experience considered.
- 5+ years of experience in Reinsurance Underwriting.
Specialty Reinsurance Underwriter in London employer: R T Specialty, LLC
Contact Detail:
R T Specialty, LLC Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Specialty Reinsurance Underwriter in London
✨Network Like a Pro
Get out there and connect with people in the reinsurance industry! Attend events, join online forums, and don’t be shy about reaching out on LinkedIn. We all know that sometimes it’s not just what you know, but who you know that can help you land that dream job.
✨Ace the Interview
Prepare for your interviews by researching the company and understanding their portfolio. Be ready to discuss how your experience aligns with their needs, especially in specialty treaty reinsurance. We want you to showcase your analytical skills and risk assessment knowledge!
✨Follow Up
After your interview, don’t forget to send a thank-you email! It shows your enthusiasm for the role and keeps you fresh in their minds. We recommend mentioning something specific from your conversation to make it personal.
✨Apply Through Our Website
Make sure to apply directly through our website for the best chance of getting noticed. We keep an eye on applications that come through our platform, so don’t miss out on that opportunity to stand out!
We think you need these skills to ace Specialty Reinsurance Underwriter in London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Specialty Reinsurance Underwriter role. Highlight relevant experience in underwriting, especially in marine, energy, and aviation sectors. We want to see how your skills align with our needs!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about reinsurance and how your background makes you a perfect fit for our team. Keep it concise but impactful – we love a good story!
Showcase Your Analytical Skills: Since this role involves financial modelling and risk assessment, be sure to mention any analytical tools or methodologies you've used in past roles. We’re keen on seeing how you approach problem-solving and decision-making.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, it shows us you’re serious about joining our team at StudySmarter!
How to prepare for a job interview at R T Specialty, LLC
✨Know Your Numbers
As a Specialty Reinsurance Underwriter, you'll need to be comfortable with financial modelling and risk analysis. Brush up on your statistics and economics knowledge, and be ready to discuss how you've used these skills in past roles. Prepare specific examples that showcase your analytical abilities.
✨Understand the Market
Stay informed about current trends in the reinsurance market, especially in specialty areas like marine and aviation. Research recent developments and be prepared to discuss how they might impact underwriting decisions. This shows your passion for the industry and your proactive approach.
✨Prepare for Scenario Questions
Expect scenario-based questions where you’ll need to demonstrate your decision-making process. Think of situations where you had to evaluate risks or negotiate terms. Practise articulating your thought process clearly, as this will highlight your expertise and problem-solving skills.
✨Showcase Your Communication Skills
Effective communication is key in this role, especially when liaising with clients and internal teams. Be ready to discuss how you've maintained clear records and communicated complex information in previous positions. Highlight any experience you have in negotiating terms or resolving disputes.