Assistant Underwriter: Personal Accident; Reinsurance

Description & Requirements

Role

Title:

Assistant Underwriter:
Personal Accident (LM Re)

Team: Financial Risks Reinsurance

Location: London

Type: Permanent

About the Role:

The role will be in the Personal Accident class and involve supporting underwriters involved in this class. In particular this will cover the following:

• Assisting the underwriting of reinsurance programmes in accordance with the business plan and within delegated underwriting authority, including using actuarial pricing tools, documentation of underwriting recommendations and reviewing contract wordings.
• Maintain all procedures and processes created by the department to ensure consistent underwriting approach and good data quality.
• Contribute to the strategies and goals of the department.

Working in a team environment and being supportive of other team members is very important. In addition, it is common to liaise with other departments in the company including actuarial, claims, operations, compliance, finance and other underwriting teams.

About the Department & Team:

The Financial Risks Reinsurance (FRRI) department is part of Liberty Mutual Re. The FRRI Underwriting team writes an $850m global reinsurance portfolio that includes many different specialty classes. We write both proportional and nonproportional reinsurance structures with a focus on treaty business. The team is based in multiple offices - London, Paris, Bogota, Sao Paulo, Miami, Bermuda, Cologne, Amsterdam, Milan and Madrid - and we aspire to work as one global team.

Within the Financial Risks Reinsurance team, the Personal Accident, Cyber and Contingency team work closely together, with team members based in London, Madrid and Bermuda.

• Follow the annual business plan for the Underwriting division in order to make appropriate decisions and support the team.
• Contribute and participate in all meetings in order to share and develop strategy, knowledge and best practice.
• Contribute as and when required to the planning process through research and preparation of relevant materials.

• Maintain relationships with customers, brokers, business partners, clients and colleagues to achieve business objectives.
• Develop knowledge of market dynamics and market cycles to support the performance of the underwriting team.
• Assist the underwriting of reinsurance risks in accordance with the business plan to meet business objectives.
• Support the review and analysis of the portfolio, to identify progress towards business objectives.
• Process entries, as required, properly onto relevant systems in a timely manner ensuring accuracy of data with relation to both underwriting and aggregate exposures.
• Ensure entries are properly recorded onto relevant systems in a timely manner whilst ensuring accuracy of data with relation to both underwriting and aggregate exposures. Help maintain all aggregate exposure management tools the team use.
• Maintain expertise and team knowledge through appropriate development opportunities.

• Compliance with all applicable internal and external laws, regulations, policies, procedures and guidance.
• Adhere to underwriting standards, instructions and best practice methodology in order to minimise risk.
• Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LM Re's commitment to placing customers at the centre of our business and behaving with integrity. LM Re expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times.
  
  These requirements include Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.

• Understanding of relevant market conditions for Personal Accident Reinsurance.
• Experience gained within the Personal Accident Insurance/Reinsurance market.
• Good knowledge of legal and regulatory requirements.
• Advanced level understanding of relevant software including…