Lead Underwriter Engineering, Cedent Facultative Reinsurance Europe in London

SCOR has created a new P&C Facultative Division, with four regional teams: North America, Latam, APAC and Europe, to further our success in this market. Whilst Facultative underwriting is not new to us, our focused approach will help secure our position as a respected market player. Creating and managing this book of business, in collaboration with the wider Insurance and Reinsurance teams is where this role begins.

Within this role, you are responsible for SCOR's Engineering (CAR, EAR, MB, EEI, DSU, CECR) Facultative Reinsurance offering across Europe, developing relationships with clients and our underwriters. As a Lead Underwriter for Engineering in Europe + UK, you will drive the strategic engagement for our business development, including business origination and maintenance of the SCOR Cedent Facultative offering to clients and brokers in the region. You will report to the Head of Cedant Facultative Europe and work closely with another Engineering underwriter within the team.

You play a key role in elaborating and achieving the objectives of the yearly Plan, and for the profitability of the Cedent Facultative transactions in your regional line of business. This is the success measure of the underwriting team within the region. Your plan contributions form part of the regional and global Cedent Facultative ambition and is achieved through sound technical and profitable underwriting.

These goals are achieved through your skill at developing SCOR’s market share and leadership position across Cedent Facultative Reinsurance through enhancing the Group image in the market by efficient and innovative support of client needs, being the partner our clients not only need, but ask for.

• Strategic Client Engagement – Support the development & delivery of the regional facultative ceding strategy across your line of business through the origination of placements in line with capacity and risk appetite.
• Team Collaboration – Create strong, collaborative relationships with internal Reinsurance & Insurance leaders to drive the creation of profitable business, and ensuring SCOR is represented in an aligned manner to our clients.
• Market Negotiation - Negotiate terms, pricing and conditions to secure and provide the best possible facultative reinsurance solutions, managing and prioritising facultative submissions.
• Portfolio Optimisation - Manage and renew an existing portfolio of facultative deals currently in place, assessing placements against our risk profile to identify exposures.
• Analytics Discovery - Collaborate with analytics and risk modelling teams to determine optional facultative reinsurance needs based on exposure and loss scenarios; use and propose improvements for our pricing tools.
• Client Management - Maintain relationships with clients and brokers, showcasing our position in the market, and additional value provided through our expertise. Participate occasionally as speaker in relevant market events.
• Operational Excellence - Contribute to our high operational standards, including all underwriting activities but also reporting, reserving and claims settlements in conjunction with the relevant teams.
• Compliance - Ensure facultative placements meeting internal governance, compliance and regulatory requirements, firmly within our Internal Control Systems process and Guidelines within the region.
• New Market Ideation – Stay informed on market developments, pricing shifts, and capacity changes, using this market intelligence to optimise facultative products, timing and structure.

Industry experience in facultative underwriting / placements in an international environment. Comprehensive technical knowledge of subjects associated to facultative underwriting (e.g. wordings, assessment of new technologies and emerging risks); as well as a wider awareness of related actuary, accounting, legal, & regulatory topics. Excellent interpersonal and organisational skills, also in virtual settings. Ability to travel. Openness to learn and use new tools, also augmented by AI. Innovations in these areas are constant.

• Personal Competencies:
• Cycle Management – Able to build underwriting decisions and relationships around the markets’ cyclical nature; able to flex mindset around underwriting strategy, capacity management, portfolio management and long-term partnerships to achieve successful and profitable underwriting decisions. Engineering is a mid- to long tail business, so you will need to think ahead and anticipate problems.
• Commercial Business Acumen - The ability to negotiate profitable business with a structure that works for both client and SCOR. Be the “closer” that leaves the client happy with the service provided, whilst maintaining correct internal risk and portfolio management. Be able to assess and balance the commercial and technical aspects of this line of business, to create a sustainable and resilient book of business.
• Critical Thinking - Assess complex risks without overengineering things; analysing market trends with a keen eye; making data-driven underwriting decisions while maintaining the process simple and efficient as possible.
• Entrepreneurial Spirit - Identifying new market opportunities, developing innovative products and adapting to emerging risks. You will also be part of the team representing the Company in relevant Engineering communities as LEG and IMIA.
• Solution Mindset - The ability to view a client problem and provide a range of solutions that could improve their situation. Able to cross-sell when another SCOR proposition would best suit requirements. Be seen as a true advisor to the client; a go to provider internally and externally.
• Intellectual Curiosity (Continuous Learning Leader) - Have the genuine desire to learn, understand and explore new ideas, concepts and perspectives, and produce credible industry collateral to positive SCOR as a Market Thought Leader.
• Cultural Awareness - Understanding diverse market dynamics, regulatory environments, and client needs across different regions to build strong global relationships.
• Cross-Functional Collaboration - Collaborate across departments to develop comprehensive and innovative risk solutions and tools.
• Stakeholder Management - Clearly able to explain risk decisions and understanding client needs; reflecting these in productive discussions to progress business relationships.