Underwriting Analyst

1 month ago

London, Greater London, United Kingdom RenaissanceRe Full time
RenaissanceRe is a leading writer of Property & Casualty Reinsurance. For over 25 years, we have helped customers and communities recover and build resilience through our industry-leading ability to understand risk, source efficient capital and rapidly pay claims.

Our global team shares a passion for solving our customers' biggest problems through a collaborative and entrepreneurial culture that empowers employees and rewards creative thinking.

Position: Underwriting Analyst

Job Location: London, UK

About RenaissanceRe

For over three decades, RenaissanceRe has helped its clients manage the risks of operating in a volatile and uncertain world. We're experts in Property, Casualty, Specialty, Cyber and Credit reinsurance, consistently recognized for the innovative way we combine data, experience and technology to understand and manage large and complex risks across the world. We are also a business with a real social purpose - we help protect communities around the globe and enable prosperity for all. Our purpose drives us forward every day as we seek solutions to some of the world's most complicated challenges. To learn more, please visit us at Careers - RenaissanceRe ).

About Specialty Underwriting

RenaissanceRe has one of the largest and diverse specialty reinsurance portfolios in the market. Lines of business covered include, Aviation, Accident & Health, Marine, Energy and Terrorism. The portfolio is global in nature with underwriting teams in London, Zurich, New York and Bermuda. With such a broad product offering and across multiple offices, we require strong communication and collaboration from each individual in the team. Our culture promotes these positive behaviours and has been a large factor in our success and enabled us to become a market leader in specialty business.

About Credit Underwriting

Our industry-leading global credit portfolio is a core part of RenaissanceRe's business, representing ~10% of gross written premium. It consists of three pillars of business: Credit, Bond, and Political Risk (CBPR), Mortgage Credit, and Structured Credit. Our team includes actuaries, attorneys, cash investors, chartered financial analysts, investment bankers, software developers, and (re)insurance and claims experts. Our diversity of experience and collaborative culture enable us to create innovative, market-leading solutions tailored to our clients' needs.

About the Position

We believe in an apprenticeship model at RenaissanceRe and have a track record of identifying high potential early career talent and setting them up for success. Our collaborative model thrives on empowering people strategically and tactically. As an Analyst, you will learn by working side-by-side with our underwriters, gaining hands-on experience to develop your understanding of how to make decisions, build client relationships, and manage deals from start to finish. You'll also work closely with the internal partners who enable our success, including actuaries, risk analysts, weather scientists, IT, operations, finance, and business development. We're investing in you beyond your first role with us and committed to your career development, whether that's along the Underwriting track or into an adjacent space like Risk or Analytics.

Key Relationships:
  • Stakeholders: Underwriters, Actuaries, Risk, IT, Operations, Finance
Key Responsibilities:
  • Provide data review and modelling for insurance, assumed and retrocession deals in appropriate jurisdictions.
  • You will incorporate ongoing exposure management for bound transactions and act as a business analyst for new internal models and systems development.
  • Support the underwriting process, from initial broker contact to providing inputs to underwriters on transactions to servicing post-transaction client requests (jurisdiction dependent).
  • Extract modelling data for deal and portfolio analyses using third-party and proprietary models, tools, and systems; interpret and challenge model results.
  • Evaluate and implement new risk models and changes to current risk models.
  • Provide analysis and pricing support to underwriters as required.
  • Assist in the completion of regulator or other stakeholder required exposure management report.
  • Develop an understanding of broker and client dynamics through regular interactions and meetings to develop understanding of drivers and motivations at play in the negotiation process.
Candidate Qualifications:
  • Undergraduate degree with an emphasis on science, engineering, economics, mathematical, statistical techniques or simulation.
  • Motivated to learn new concepts and build a career in the insurance industry.
  • Excellent mathematical, statistical, problem-solving and data management skills.
  • Strong communication and collaboration skills, including the ability to express a point-of-view and receive feedback from others.
  • The ability to operate in a fast-paced underwriting environment with multiple workstreams with timely and accurate results.
  • Strong analytical and data interpretation skills, with the ability to communicate findings to technical and non-technical audiences.
  • Emotional and organizational IQ; strong listening skills, global mindset, and respect for cultural differences.
  • Excellent written, verbal, and interpersonal skills, with ability to read and understand contracts.
  • Excellent Microsoft Office skills, particularly Excel - or a willingness to upskill in this area.
  • Proven analytical and problem solving skills
  • Effective planning and organisation skills
We believe that meeting these requirements will position you for success in the role. However, if you fulfil most - but not all - of the expectations, we still encourage you to apply, as we are eager to explore your potential and believe in the ability to grow and learn.

Our people are our most valuable resource and core to our success. This is a fast-paced business environment, demanding a strong work ethic and a results-oriented approach. We offer competitive compensation and benefits, a comprehensive talent development program, and a reward system in which employees share in the success of the company. We are an engaged member of the communities in which we live and work and have a locally-led giving philosophy with generous employee matching program, global and local community grants and employee volunteerism.

We seek diversity, create equity, and practice inclusion. Our people are at the heart of everything we do. We are an equal opportunity employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, national origin, sex, sexual orientation, gender identity, marital status, pregnancy, disability, military status or other legally protected categories.

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