Casualty Actuary

1 week ago

London, Greater London, United Kingdom AIG Full time
Who we are

American International Group, Inc. (AIG) is a leading global insurance organization.

Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions.

These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.

Get to know the business

General Insurance is a leading provider of insurance products and services for commercial and personal insurance customers. It includes one of the world's most far-reaching property casualty networks. General Insurance offers a broad range of products to customers through a diversified, multichannel distribution network.

As an actuary at AIG, you will be challenged and encouraged to reach your greatest potential.

Every day will bring new opportunities to stretch your analytical and problem solving skills as you improve how we predict and mitigate risk.

Our Financial Actuaries are on the frontlines, quantifying risk, pricing insurance and reserving losses for AIG's major regulated and rated insurance operating companies globally.

Portfolio Analytics and Pricing Actuaries support AIG's businesses and are responsible for technical pricing, product development analytics and performance measurement.

They collaborate with Marketing, Operations and Financial Management.

Reserving:

  • The role will support the actuarial Casualty reserving lead for UK and European markets, providing quarterly recommendations on ultimate reserves positions, IBNR and reserves uncertainty.
  • They will assist in the production of key reserving results and analytics to take key stakeholders (internal and external to actuarial) through the results.
  • Working with reinsurance to ensure ongoing understanding of outwards RI changes impacting their lines of business.
  • Train and supervise junior staff
  • Support continuous improvement to key processes.

Pricing:

  • Providing the UK & Europe Business with the actuarial support they require to profitably grow their business and take remedial action where needed.
  • Produce transactional pricing analysis for accounts within agreed timescales, working closely with underwriters.
  • Actively involved in technical pricing tool development and enhancements, whilst considering local market requirements.
  • In coordination with the actuarial pricing team, monitor rates at renewal and new business, ensure technical pricing models are in place and reviewed regularly and that any deviation is justified and monitored.
  • Report performance at granular level (account and rating factor) so that underwriters can optimise performance.
  • Ensure data used for pricing and monitoring is complete, accurate, adequate and timely.
Technical Skills and Expertise

  • Bachelors degree or equivalent in Mathematics/Actuarial Science
  • Usually a nearly or newly qualified member of an Actuarial Institute
  • Will have demonstrable insurance experience.
  • Proven proficiency in actuarial pricing concepts/methodologies
  • Increasing understanding of general insurance including underwriting policies, claims handling policies and local legislation
  • Knowledge of PC and mainframe environments
  • Knowledge of SAS, VBA, R
  • Developing ability to communicate actuarial concepts to nonspecialists.
  • Ability to forge relationships with other areas of the business
  • Ability to work under own initiative and show flexibility to meet business needs
  • Ability to meet tight deadlines and prioritise own work
  • Professional behaviour with high level of integrity
A look at our Benefits


We're proud to offer a range of employee benefits and resources that help you protect what matters most - your health care, savings, financial protection and wellbeing.

We provide a variety of leaves for personal, health, family and military needs.

For example, our "Giving Back" program allows you to take up to 24 hours a year to volunteer in your community.

Our global mental health and wellness days off provide all colleagues with a paid day off to focus on their mental health and wellbeing.


We also believe in fostering our colleagues' development and offer a range of learning opportunities for colleagues to hone their professional skills to position themselves for the next steps of their careers.

We have a tuition reimbursement program for eligible colleagues to enhance their education, skills, and knowledge in areas that relate to their current position or future positions to which they may transfer or progress.

We are an Equal Opportunity Employer


American International Group, Inc., its subsidiaries and affiliates are committed to be an Equal Opportunity Employer and its policies and procedures reflect this commitment.

We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expr

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