At a Glance
- Tasks: Lead the underwriting process for specialty treaty reinsurance and grow the portfolio.
- Company: Join a diverse and inclusive team at Ryan Specialty in London.
- Benefits: Competitive salary, career development, and a supportive work environment.
- Other info: Embrace a culture that values diversity and promotes equal opportunities.
- Why this job: Make an impact in the dynamic world of reinsurance with innovative projects.
- 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.
What will your job entail?
- 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.
Equal Opportunity Employment
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 services 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/Senior Underwriter in London employer: Ryan Specialty Corporate Services Limited
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.
Contact Details:
Ryan Specialty Corporate Services Limited Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Specialty Reinsurance Underwriter/Senior Underwriter in London
✨Tip Number 1
Network like a pro! Reach out to industry contacts on LinkedIn or attend local events. We all know that sometimes it’s not just what you know, but who you know that can help you land that dream job.
✨Tip Number 2
Prepare for interviews by researching the company and its recent projects. We want you to be able to discuss how your skills in underwriting can contribute to their specialty portfolio, especially in areas like marine and energy.
✨Tip Number 3
Practice your pitch! Be ready to explain your experience in reinsurance underwriting clearly and confidently. We suggest highlighting specific examples of how you've successfully managed risk factors and pricing in past roles.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we love seeing candidates who are proactive about their job search!
We think you need these skills to ace Specialty Reinsurance Underwriter/Senior 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, or 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 you can contribute to our growing portfolio. Keep it concise but impactful – we love a good story!
Showcase Your Analytical Skills:Since this role involves financial modelling and risk assessment, make sure to highlight any experience you have with analytical tools. We’re keen to see how you approach problem-solving and decision-making in underwriting.
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you don’t miss out on any important updates. Plus, it shows you’re serious about joining our team!
How to prepare for a job interview at Ryan Specialty Corporate Services Limited
✨Know Your Underwriting Basics
Make sure you brush up on the fundamentals of reinsurance underwriting. Understand the key concepts like treaty submissions, risk factors, and pricing strategies. Being able to discuss these topics confidently will show that you're well-prepared and knowledgeable.
✨Showcase Your Analytical Skills
Since this role involves financial modelling and analytical tools, be ready to demonstrate your proficiency in these areas. Bring examples of how you've used data analysis to assess risks or make informed decisions in past roles. This will highlight your ability to contribute effectively to the team.
✨Stay Updated on Market Trends
Familiarise yourself with current market trends and competitive offerings in the reinsurance sector. Being able to discuss recent developments or changes in the industry during your interview will show that you're proactive and genuinely interested in the field.
✨Prepare Questions for Them
Interviews are a two-way street, so prepare insightful questions about the company's approach to underwriting or their growth strategy. This not only shows your interest but also helps you gauge if the company aligns with your career goals.
