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 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
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 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.
Senior Reinsurance Underwriter employer: Ryan Specialty
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 reinsurance underwriting.
StudySmarter Expert Advice🤫
We think this is how you could land Senior 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 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 experience in underwriting and risk assessment. Use specific examples from your past work to demonstrate how you’ve successfully managed portfolios or negotiated terms. We want to see your expertise shine!
✨Research the Company
Before any interview, do your homework on the company’s reinsurance portfolio and recent market trends. This shows you’re genuinely interested and helps you tailor your answers. We love candidates who come prepared and can discuss how they can contribute to our growth!
✨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 often have exclusive roles listed there that you won’t find anywhere else. Let’s get you on board!
We think you need these skills to ace Senior Reinsurance Underwriter
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Senior Reinsurance Underwriter role. Highlight your experience in underwriting, especially with treaty submissions and risk analysis. We want to see how your background aligns 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 skills can contribute to our growing portfolio. Keep it engaging and relevant to the job description.
Showcase Your Analytical Skills:Since this role involves financial modelling and risk assessment, make sure to showcase any relevant analytical tools or methodologies you've used in your previous roles. We love seeing candidates who can think critically about risk factors!
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’re considered for the role. Plus, it shows you’re keen on joining our team!
How to prepare for a job interview at Ryan Specialty
✨Know Your Numbers
As a Senior Reinsurance Underwriter, you'll need to demonstrate your analytical skills. Brush up on financial modelling and risk assessment techniques. Be ready to discuss how you've used these tools in past roles to evaluate risks and determine pricing.
✨Understand the Market
Stay informed about current trends in the reinsurance market, especially in specialty areas like marine and aviation. Bring examples of how you've adapted to market changes in your previous positions, and be prepared to discuss how you would approach underwriting in today's environment.
✨Showcase Your Communication Skills
You'll be negotiating terms with ceding companies, so it's crucial to highlight your communication abilities. Prepare examples of successful negotiations you've led, focusing on how you addressed concerns and built mutually beneficial agreements.
✨Be Organised and Detail-Oriented
The role requires maintaining accurate records and conducting thorough due diligence. During the interview, share your strategies for staying organised and ensuring accuracy in your work. Discuss any systems or tools you use to manage underwriting decisions and client communications effectively.
