Head of Casualty and Financial Lines Reinsurance

3 weeks ago

London, Greater London, United Kingdom Liberty Specialty Markets Full time

Position Overview:

We are seeking a professional with a background in Casualty and/or Financial Lines to oversee the comprehensive placement of our long-term reinsurance treaties. This role will involve close collaboration with business leaders to gain insights into our globally written insurance lines. The focus will be on Liberty International Insurance and Liberty Mutual Re exposures, working in tandem with our North American and Credit teams.

A solid foundation in purchasing, placing, or underwriting Casualty and Financial Lines Treaty business, along with an understanding of the underlying business and actuarial pricing principles, is highly desirable.

Department & Team Overview:

The GRS Outwards Reinsurance team is tasked with managing outwards reinsurance treaty programs that safeguard GRS.

This department encompasses all facets of the contract placement process, including reinsurance strategy formulation, preparation of RI submissions, treaty allocations, engagement with underwriters and brokers, drafting contract wordings, handling special acceptance requests, and assisting both internal and external stakeholders with reinsurance-related inquiries.

The team plays a vital role in business planning, capital requirement assessment, exposure management, and regulatory reporting. They collaborate closely with Liberty Executives, Underwriters, Claims, Finance, and Operations to ensure a cohesive and coordinated approach across all activities.

Key Responsibilities:

  • Oversee the complete process of long-tail reinsurance treaty placements, including the generation and analysis of data necessary for modeling and pricing appropriate products.
  • Accurately document and communicate treaty terms to relevant departments such as Finance, Operations, and Actuarial. Independently prepare and distribute Summary of Terms, Reinsurance Schematics, and other pertinent reports.
  • Collaborate closely with the Outwards Reinsurance Operations team to ensure the precise and timely transfer of reinsurance structures, aligning with administrative system requirements and processes.
  • Work in conjunction with Underwriting, Finance, Actuarial, Capital Management, Exposure Management, and Claims teams to ensure a thorough understanding of all Reinsurance Treaties, facilitating accurate integration into relevant internal processes.
  • Independently produce, verify, and formalize ceded metrics sheets.
  • Provide initial strategic recommendations for all long-tail placements based on ceded metrics and in-depth business knowledge gained through engagement with underwriters.
  • Develop, maintain, and communicate relevant reports for reinsurance monitoring purposes, including monitoring FAC RI expenditure, assessing RI treaty performance, overseeing credit risk exposure, and managing reinsurance collateral.
  • Contribute to the review of regulatory reports, such as Solvency II forms, demonstrating a comprehensive understanding of regulatory requirements.
  • Manage various annual reinsurance renewal processes, including data submission preparation and review, as well as the execution of reinsurance placements.
  • Maintain the internal reinsurance allocation models.
  • Coordinate annual internal and external reinsurance planning activities.
  • Ensure that appropriate reports are developed, maintained, and communicated to facilitate reinsurance monitoring.
  • Mentor less experienced staff members.

Skills & Experience:

  • Fundamental understanding of reinsurance principles.
  • Strong capability to adapt and tackle unique challenges in collaborative and innovative ways.
  • Exhibits advanced communication, organizational, analytical, critical thinking, and team-building skills, along with advanced presentation, influencing, and relationship management abilities.
  • In-depth knowledge of business operations, including an understanding of the function's value chain and market conditions, is strongly preferred.
  • Proficient in data management and manipulation using MS Excel.
  • Excellent communication and interpersonal skills, including the ability to present to senior leadership audiences.

About Liberty Specialty Markets (LSM) and Liberty Mutual Reinsurance (LMRe)

Liberty Specialty Markets and Liberty Mutual Reinsurance are integral parts of Global Risk Solutions and the broader Liberty Mutual Insurance Group, a leading global insurer. We provide a wide range of world-class insurance and reinsurance services to brokers and insureds across all major markets.

Our workforce is crucial to our success. This is why "Put People First" is one of the five core values that unite us as a global organization. We embody this through:

  • Fostering a vibrant and inclusive environment while committing to career development.
  • Promoting diversity, equity, and inclusion (DEI). Our Inclusion Matters framework and employee-led networks enhance the diversity of our workforce and our inclusive culture.
  • Emphasizing collaboration to share unique perspectives, enabling better decision-making, innovative solutions, and the pursuit of ambitious goals.
  • Supporting a culture that promotes a healthy work-life balance and flexible working arrangements.

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