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: Opportunity to work with a diverse team and advance your career.
- 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 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 valued for their unique contributions, while the company provides ample opportunities for career advancement within the specialty reinsurance sector. The vibrant culture and focus on innovation make it an ideal place for those seeking meaningful and rewarding employment in a thriving industry.
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
✨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.
✨Show Off Your Skills
When you get the chance to chat with potential employers, make sure to highlight your analytical skills and experience in underwriting. We want to see how you can contribute to growing their portfolio, so come prepared with examples of your past successes!
✨Research, Research, Research
Before any interview, do your homework on the company and the market trends. Understanding their specific focus areas, like marine or energy reinsurance, will show that you’re genuinely interested and ready to hit the ground running. We love candidates who are informed and engaged!
✨Apply Through Our Website
Don’t forget to apply directly through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we’re always looking for passionate individuals who want to make a difference in the reinsurance world, so let’s get your application in!
We think you need these skills to ace Specialty Reinsurance Underwriter/Senior Underwriter
Some tips for your application 🫡
Tailor Your CV:Make sure your CV reflects the specific skills and experiences that align with the Specialty Reinsurance Underwriter role. Highlight any relevant underwriting experience, especially in marine, energy, or aviation sectors, to catch our eye!
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. Don’t forget to mention your analytical skills and experience with financial modelling.
Showcase Your Achievements:When detailing your work experience, focus on your achievements rather than just duties. Quantify your successes where possible, like how you contributed to growing a portfolio or improved underwriting processes. We love numbers!
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, you’ll find all the details you need about the role and our company culture there!
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 discuss your experience with these. Prepare examples of how you've used data analysis to assess risks or make decisions in previous roles. This will demonstrate your ability to handle the technical aspects of the job.
✨Stay Updated on Market Trends
Familiarise yourself with current trends in the reinsurance market, especially in specialty areas like marine and aviation. Bring up recent developments during the interview to show that you're proactive and engaged with the industry. This can set you apart from other candidates.
✨Prepare for Negotiation Scenarios
Negotiation is a key part of this role, so think about past experiences where you've successfully negotiated terms or conditions. Be ready to discuss your approach and any challenges you faced. This will highlight your interpersonal skills and ability to build mutually beneficial agreements.
