Actuarial Intern

2 weeks ago

London, Greater London, United Kingdom IGI - International General Insurance Co. Ltd. Full time £30,000 - £50,000 per year
Job SummaryThis internship offers a unique opportunity to shadow the actuarial team and gain exposure to real-world actuarial work in a dynamic insurance environment. You will observe and learn how cat modelling contributes to pricing, reserving, and risk management, while developing your understanding of the insurance industry and actuarial practices.

Development Opportunities:

• Firsthand exposure to cat modelling workflows, methodologies, analytics and exposure management.

• Insight into how cat modelling support business strategy and risk management.

• Mentorship and informal learning from experienced professionals.Job Description


Job Description

Company Description

IGI - International General Insurance Co. Ltd. is a leading international specialist commercial insurer and reinsurer with a global portfolio of Energy, Property, Construction & Engineering, Ports & Terminals, Marine, Financial Institutions, General Aviation, Professional Indemnity, Casualty, Directors' and Officers', Legal Expenses, Political Violence, Contingency and Treaty Reinsurance. Registered in Bermuda as a limited liability company, with operational headquarters in Amman, Jordan and offices in London, Malta, Bermuda, Norway, Dubai, Kuala Lumpur and Casablanca, we aim to deliver outstanding levels of service to our clients and brokers. Our ratings reflect the financial strength of our business: "A" (Stable) from AM Best; "A-" (Stable) from S&P. In 2024, we had net earnings of $135.2 million. Our holding company has assets in excess of $2,037.6 million, as at 31 December 2024.

Key Responsibilities

  • Shadow actuarial team members during pricing, reserving, and modelling activities

  • Develop knowledge of Cat modelling methodologies and vendor models.

  • Assist the Capital team with internal and external reporting.

  • Support the wider Exposure team (based in Amman) in understanding catastrophe exposures and modelled loss estimates.

  • Clearly communicate insights, findings, and recommendation to various stakeholders.

  • Assist in maintaining and enhancing the Cat exposure modelling process.

  • Assist the Cat Manager in monthly roll-ups, producing Cat exposure and modelling reports for all relevant peril regions.

  • Become familiar with Verisk database data and be able to write SQL scripts.

Key Attributes & Professional Qualifications

Essential:

  • Currently pursuing degree in Science, Mathematics, Statistics, Engineering, or a related discipline.

  • Strong interest in insurance and natural hazards.

  • Strong technical problem-solving skills.

  • Eagerness to learn through observation and discussion.

  • Good communication and interpersonal skills.

  • Sound understanding of probability and statistics.

  • Knowledge of at least one programming language (e.g. R, Python, VBA)

  • Proficiency in Microsoft Suite, with strong skills in Excel.

Desirable:

  • Interest in pursuing actuarial exams or membership with the IFoA.

  • Experience with SQL and data visualisation tools such as Power BI.

  • Knowledge of Cat modelling.

Conduct Rules

SMCR was introduced by the Financial Conduct Authority (FCA), includes a set of Conduct Rules that apply to most employees in UK financial services firms. These rules aim to improve individual accountability and promote a healthy culture across the industry.

Individual Conduct Rules

These are the core five rules that apply to all employees

  • Act with integrity

  • Act with due skill, care and diligence

  • Be open and cooperative with the FCA, PRA, and other regulators

  • Pay due regard to the interests of customers and treat them fairly

  • Observe proper standards of market conduct

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