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- Tasks: Lead the underwriting process for specialty treaty reinsurance and grow the portfolio.
- Company: Join a dynamic team at Ryan Specialty in London, focused on innovative reinsurance solutions.
- Benefits: Competitive salary, diverse workplace, and opportunities for professional growth.
- Other info: Embrace diversity and inclusion in a collaborative workplace.
- Why this job: Make an impact in the reinsurance industry while developing your skills in a supportive environment.
- Qualifications: Bachelor’s degree or relevant experience in Reinsurance Underwriting 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 Head of Specialty, 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 or commensurate work experience considered.
- Demonstrable 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: Ryan Specialty
Contact Detail:
Ryan Specialty Recruiting Team
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 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 through our website for the best chance at landing that role! We’ve got a streamlined process that makes it easy for us to see your application and get you in front of the right people. Let’s make it happen together!
We think you need these skills to ace Specialty Reinsurance Underwriter
Some tips for your application 🫡
Tailor Your CV: Make sure your CV reflects the skills and experience that are relevant to the Specialty Reinsurance Underwriter role. Highlight your underwriting experience and any specific knowledge in marine, energy, or aviation sectors. We want to see how you can contribute to our growing portfolio!
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 aligns with our needs. Be sure to mention any experience with financial modelling or risk assessment, as these are key for us.
Showcase Your Analytical Skills: Since this role involves a lot of analysis, make sure to highlight your analytical skills in your application. Whether it's through past projects or specific tools you've used, we want to know how you assess risks and determine pricing.
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 at StudySmarter!
How to prepare for a job interview at Ryan Specialty
✨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 serious about the role.
✨Showcase Your Analytical Skills
Since this position involves financial modelling and analytical tools, be prepared to discuss your experience with these. Bring examples of how you've used data to assess risks or project losses 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. Being able to talk about recent developments or competitive offerings will impress your interviewers and show that you're proactive.
✨Prepare for Negotiation Scenarios
Negotiation is a key part of this role, so think about past experiences where you've successfully negotiated terms. Be ready to discuss your approach and how you handle objections. This will highlight your interpersonal skills and ability to build mutually beneficial agreements.