Specialty Reinsurance Underwriter/Senior Underwriter

Job description

Position Summary: 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 What will your job entail? 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.