At a Glance
- Tasks: Lead the underwriting process for specialty treaty reinsurance and grow the portfolio.
- Company: Dynamic reinsurance firm committed to diversity and inclusion.
- Benefits: Competitive salary, inclusive culture, and opportunities for professional growth.
- Other info: Join a team that values diverse perspectives and fosters career advancement.
- Why this job: Make a real impact in the reinsurance industry while developing 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.
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.
Qualifications
- Bachelor’s degree or commensurate work experience considered.
- Demonstrable experience in Reinsurance Underwriting.
Specialty Reinsurance Underwriter/Senior Underwriter employer: Ryan 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 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.
StudySmarter Expert Advice🤫
We think this is how you could land Specialty Reinsurance Underwriter/Senior Underwriter
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Ryan LLC). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Ryan LLC. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Specialty Reinsurance Underwriter/Senior Underwriter
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 Ryan LLC.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Ryan LLC. 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 Ryan LLC
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Ryan LLC 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 Ryan LLC, 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 Ryan LLC'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.
