Outwards Reinsurance Analyst

As a Reinsurance Analyst, you will be responsible for providing high quality analytical support to the Outwards Reinsurance function. The role supports the effective purchasing, monitoring and strategic planning of outwards reinsurance, with a focus on ensuring reinsurance structures are optimised and aligned with the business plan.

Responsibilities

Key Responsibilities:

Reinsurance Strategy:

• Contribute to the short, medium and long term outwards reinsurance strategy for the group

• Analyse reinsurance structures and strategies to optimise profitability within the internal risk appetite framework

• Develop, review and maintain frameworks for non-catastrophe outwards reinsurance metrics

• Support the formulation of outwards reinsurance proposals as part of the business planning process

Pre and Post Reinsurance Purchases:

• Produce renewal modelling for group treaty reinsurance and other ad-hoc reinsurance purchases

• Liaise with brokers to validate renewal modelling assumptions and provide modelling data as required

• Contribute to the analysis and reconciliation required for outwards reinsurance renewal packs

• Carry out post purchase calculations for regulatory submissions

• Track actual reinsurance purchases against plan

Reinsurance Monitoring:

• Enhance data quality, processes and the effective use of technology to improve and automate reinsurance analytics

• Build and maintain reinsurance modelling tools

Communication and wider team responsibilities:

• Liaise regularly with the Actuarial team, providing updates on reinsurance strategy, purchases and business planning

• Interact and develop relationships where necessary internally (not limited but including finance, actuarial and underwriting teams) or externally (with consultants, brokers or third parties) in support of the successful execution of the role.

Qualifications

Skills and Experience

• Strong data and modelling skills, with an interest in automation and process improvement

• Knowledge of Lloyd’s and London market insurance/reinsurance classes and reinsurance products.

• Experience with actuarial methods preferable (capital modelling or pricing)

• Excellent communication skills - both verbal and written

• An individual who will identify and challenge under-performance in the organisation and strive for constant improvement

• Strong attention to detail and focused on the delivery of high quality work within agreed deadlines – including thorough self-review and error checking

• Highly motivated, enthusiastic and structured working style

• Proactive and able to use own initiative

• Ability to think and act creatively around related issues