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, diverse workplace, and opportunities for professional growth.
- Other info: Inclusive culture valuing diverse perspectives and contributions.
- Why this job: Make an 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.
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/Senior 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 specialty reinsurance.
StudySmarter Expert Advice🤫
We think this is how you could land Specialty Reinsurance Underwriter/Senior Underwriter
✨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. Show them you’re not just another candidate!
✨Tip Number 3
Practice your pitch! You should be able to clearly articulate your experience in reinsurance underwriting and how it aligns with the role. We recommend rehearsing with a friend or in front of a mirror to boost your confidence.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen. 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
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Specialty Reinsurance Underwriter role. Highlight your relevant experience in underwriting and any specific knowledge of marine, energy, or aviation sectors. 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 you can contribute to our growing portfolio. Be sure to mention any specific achievements that demonstrate your skills.
Showcase Analytical Skills:Since this role involves financial modelling and risk assessment, make sure to highlight your analytical skills in your application. We love seeing examples of how you've used data to make informed decisions in past roles.
Apply Through Our Website:We encourage you to apply directly through our website for the best chance of getting noticed. It’s the easiest way for us to keep track of your application and ensure it reaches the right people!
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. This will help you speak confidently about your experience and how it aligns with the role.
✨Showcase Your Analytical Skills
Since the job involves financial modelling and analytical tools, be prepared to discuss specific examples where you've used these skills. Bring along any relevant case studies or projects that demonstrate your ability to assess risks and project losses effectively.
✨Stay Updated on Market Trends
Research current trends in the reinsurance market, especially in specialty areas like marine and energy. Being able to discuss recent developments or competitive offerings will show that you're proactive and genuinely interested in the industry.
✨Prepare for Negotiation Scenarios
Think about past experiences where you've negotiated terms or conditions. Be ready to role-play a negotiation scenario during the interview, as this will highlight your communication skills and ability to establish mutually beneficial agreements.
