Reinsurance Analyst

Job title: Outwards Reinsurance Analyst

Employee status: Permanent, full time

Salary: Circa £50,000

Location: Office location London

Purpose of the role

• To take responsibility for the day-to-day management of the outwards reinsurance placement workload and process for all lines of business.
• To further support the organisations Portfolio Underwriters to manage the portfolio as part of the Digital Underwriting Team.

Principal Accountabilities 

• Carry out the end-to-end outward reinsurance placement process in line with the group’s guidelines and policies.
• Take ownership for a defined placement workload, carrying out and applying best practice processes to control and improve the placement process for the outward reinsurance placement book.
• Produce outwards reinsurance information (including all relevant MI) for business planning and strategic purposes.
• Produce standardised renewal information and assist the Head of Outwards Reinsurance with managing the entire placement process through brokers and on a direct basis.
• Monitor reinsurance security exposures
• Assist in developing alternative forms of risk transfer.
• Give support in structuring capital market transactions.
• Assist the Head of Outwards Reinsurance to produce reports and all MI requirements and provide relevant information for the group’s Committees and Board Meetings.
• Provide a central point of contact for all internal and external queries regarding the placement process.
• Liaison with outward reinsurance placement processing teams to ensure the end-to-end placement to recovery process runs effectively with minimal hand-offs.
• Networking with brokers and re-insurers.
• Provide constant dialogue with portfolio underwriters in order to understand the protection requirements of the portfolios.
• Participate in team projects on an ad hoc basis.
• End-to-end construction and production of Contract wordings working with In-House Legal Counsel concerning the proposed contracts.
• Produce the required documentation for the Lloyd’s Regulatory Returns on a quarterly basis.
• Provide advice to underwriters concerning the purchasing of facultative and specific re- insurance.
• Act as liaison for internal and external auditors on matters concerning the placement process.
• Making decisions on a day-to-day basis in respect of the individual workload.
• Provide workable solutions or make recommendations, which will resolve and reduce barriers to the overall purpose of the role.
• Identifying events which will have an impact on financial results and escalating them to the Head of Outwards Reinsurance.

Outside of peak Outward Reinsurance Placement Periods:

• To assist the Underwriters in evaluating and underwriting risks in accordance with the approved Business Plan.
• To carry out research on specific accounts as directed or under own initiative using CRM.
• Monitor and follow up, as required, quotes obtained through the platform and work with Portfolio Underwriters and Distribution Lead in target in-scope risks.
• Become a super-user of the Platform and undertake broker workshops and demos to improve active usership and active engagement of users of the platform.
• Help promote the feedback cycle between pricing analysis, distribution strategy and the algorithm roadmap.
• Assist with the monitoring of expected profitability and risk appetite patterns.
• Undertake in depth analysis of the Portfolio and provide insights to the Portfolio Underwriting Team.

Education, Qualifications, Knowledge, Skills and Experience

• Educated to degree level or equivalent, having obtained a good overall grade in a relevant subject.
• Good overall educational passes.
• ACII qualified or progressing towards a professional qualification.
• Solid experience of the placement process in reinsurance, ideally gained from working in an underwriting or outwards reinsurance department. Experience in working within the London Market or a Lloyd’s of London Syndicate.
• Solid knowledge of all Property, Casualty and Specialty lines of business, both proportional and non-proportional.
• Excellent IT and MI skills including working knowledge of Microsoft Office packages.
• Understanding of Nat Cat modelling software.
• General knowledge about actuarial tools.
• Analytical skills with a developed understanding of model outputs.
• Good handle on all internal underwriting and accounting systems.
• Excellent communication skills and the ability to liaise at all levels.
• Attention to detail, good organisational and multi-tasking skills.
• Ability to work with minimum supervision and on own initiative.
• Ability to work under pressure and to tight deadlines.
• Enthusiastic and keen to learn.
• The ability to work well as part of a team. 

For extra information please contact:- 

London: 0203 411 8430

Email: admin@lawesgroup.co.uk