Reinsurance Lead

2 months ago


London, Greater London, United Kingdom Liberty Specialty Markets Full time
About the Role:

We are seeking a highly skilled Reinsurance Lead to support the end-to-end placement of our short-tail reinsurance treaties. This role will focus on the Liberty International Insurance and Liberty Mutual Re exposures, working closely with the business leaders to understand our Globally written insurance lines.

A background in buying, placing or underwriting Property and Specialty Treaty business with knowledge of underlying business and actuarial pricing concepts is preferred.

Role of Department & Team:

The GRS Outwards Reinsurance team is responsible for outwards reinsurance treaty programmes protecting GRS. The department covers all aspects of the contract placement process, including reinsurance strategy and planning, RI submission preparation, treaty allocations, engagement with underwriters and brokers, contract wordings, special acceptance requests, and supporting internal and external stakeholders with reinsurance-related queries.

The team contributes to business planning, capital requirement evaluation, exposure management, and regulatory reporting. The team works closely with Liberty Executives, Underwriters, Claims, Finance, and Operations functions to ensure a seamless and coordinated approach throughout all its activities.

Key Responsibilities:
  1. Manage the end-to-end short-tail reinsurance treaty placements, including the production and analysis of data required for modeling and pricing suitable products.
  2. Clearly document and communicate treaty terms to all necessary departments, such as Finance, Operations, and Actuarial. Prepare and distribute Summary of Terms, Reinsurance Schematics, and other relevant reports independently.
  3. Collaborate closely with the Outwards Reinsurance Operations team to ensure accurate and timely handoff of reinsurance structures, aligning with administration system requirements and processes.
  4. Work closely with Underwriting, Finance, Actuarial, Capital Management, Exposure Management, and Claims teams to ensure a comprehensive understanding of all Reinsurance Treaties, facilitating accurate integration into relevant internal processes.
  5. Produce, verify, and formalize ceded metrics sheets independently.
  6. Provide initial reinsurance strategy suggestions for all long-tail placements based on ceded metrics and deep business knowledge acquired through engagement with underwriters.
  7. Develop, maintain, and communicate appropriate reports for reinsurance monitoring purposes, including monitoring FAC RI spend, assessing RI treaty performance, monitoring credit risk exposure, reinsurance collateral monitoring, special acceptance reporting, exception reporting, and monitoring of treaty exhaustion metrics.
  8. Contribute to the review of regulatory reports, such as Solvency II forms, demonstrating a thorough understanding of regulatory requirements.
  9. Run various annual reinsurance renewal processes, including data submission preparation and review, and delivery of the reinsurance placements.
  10. Maintain the various internal reinsurance allocation models.
  11. Coordinate annual internal and external reinsurance planning.
  12. Ensure appropriate reports are developed, maintained, and communicated to assist reinsurance monitoring.
  13. Provide mentoring to less experienced staff.
Skills & Experience:
  1. Fundamental knowledge of reinsurance.
  2. Strong ability to adapt and address unique challenges in collaborative and creative ways.
  3. Displays advanced communication, organizational, analytical, critical thinking, and team building skills, as well as advanced presentation, influencing, and relationship management skills.
  4. Advanced business operations knowledge, including understanding the function's value chain and market conditions, strongly preferred.
  5. Advanced knowledge of data management and manipulation in MS Excel.
  6. Strong communication and interpersonal skills, including presentation skills to senior leadership audiences.
About Liberty Specialty Markets (LSM) and Liberty Mutual Reinsurance (LMRe):

Liberty Specialty Markets and Liberty Mutual Reinsurance are part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.

Our people are key to our success. That is why 'Put People First' is one of the five Liberty values that unite us as a global organization. We bring this to life for our colleagues through:

  1. Offering a vibrant and inclusive environment and committing to their career development.
  2. Promoting diversity, equity, and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
  3. Reinforcing that collaborating together to share our unique perspectives helps us make better decisions, deliver innovative solutions, and pursue our ambitious goals.
  4. A supportive culture, which includes promoting a healthy work-life balance and working flexibly.

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