At a Glance
- Tasks: Lead the underwriting process for specialty treaty reinsurance and grow the portfolio.
- 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 and 5+ years of reinsurance underwriting experience required.
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.
Disclaimer: Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.
Specialty Reinsurance Underwriter employer: R T Specialty, LLC
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 valued for their unique contributions, while the company provides comprehensive benefits and opportunities for career advancement in the specialty reinsurance sector. Join us to be part of a forward-thinking team that thrives on innovation and excellence in underwriting.
StudySmarter Expert Advice🤫
We think this is how you could land Specialty Reinsurance Underwriter
✨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 land you 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 and professionalism. We recommend mentioning something specific from your conversation to remind them of your great fit for the role.
✨Apply Through Our Website
Make sure to apply directly through our website for the best chance at landing the job. We keep an eye on applications that come through our platform, so don’t miss out on this opportunity to stand out!
We think you need these skills to ace Specialty Reinsurance Underwriter
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, risk assessment, and any specific projects that align with the job description. We want to see how your background fits with what we do!
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 skills can contribute to our team. Be sure to mention any specific experiences that relate to marine, energy, or aviation underwriting.
Showcase Your Analytical Skills:Since this role involves financial modelling and risk analysis, make sure to highlight your analytical skills in your application. Share examples of how you've used these skills in past roles to make informed decisions or improve processes.
Apply Through Our Website:We encourage you to apply directly through our website for the best chance of getting noticed. It’s the easiest way for us to keep track of your application and ensure it reaches the right people. Don’t miss out on this opportunity!
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 some examples of how you've assessed risks and determined pricing.
✨Understand the Market
Stay informed about current trends in the reinsurance market, especially in specialty areas like marine, energy, and aviation. Research recent developments and be prepared to discuss how they might impact underwriting decisions. Showing that you’re proactive about industry knowledge can really impress interviewers.
✨Demonstrate Organisational Skills
This role requires maintaining accurate records and managing multiple accounts. Be ready to share specific strategies you use to stay organised and ensure accuracy in your work. Discuss any tools or systems you’ve implemented to streamline your processes.
✨Showcase Your Negotiation Skills
Negotiating terms with ceding companies is a key part of the job. Prepare to talk about your negotiation experiences, focusing on how you’ve successfully reached mutually beneficial agreements. Highlight any challenges you faced and how you overcame them to secure favourable terms.
