UK Commercial Lines Pricing Actuary

Employer
Ogden Scott
Location
London (City of), London (Greater)
Salary
£ Market leading salary + excellent benefits
Closing date
29 Feb 2024

View more

Sector
General insurance
Contract Type
Permanent
Hours
Full Time
Experience/Function
Qualified

Job Opportunity: Experienced UK Commercial Lines Pricing Actuary

About Us:

We are currently representing a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. This company's subsidiaries are wholly owned by a prominent player in the Japanese domestic market. Committed to values of promise, trust, and dedication to protection, they foster a culture of integrity, teamwork, agility, execution, and excellence.

The Role:

We are actively seeking an experienced actuary with a strong background in UK Commercial Lines for an exciting position as a UK Commercial Lines Pricing Actuary. This role will play a vital part in the UK Insurance Pricing team, reporting to the Head of UK Pricing, with a secondary reporting line to the Head of UK Commercial Lines.

Key Responsibilities:

  • Own the technical underwriting process for UK Commercial Lines, collaborating closely with underwriters to challenge, review, and enhance pricing parameters.
  • Design and construct pricing models for UK commercial lines, using GLMs and advanced modelling approaches as needed.
  • Establish and implement a process following the actuarial control cycle framework to continually improve pricing models based on experience monitoring and external data.
  • Prepare presentations and quantitative exhibits for management and underwriters, offering insights and advice based on actuarial modelling techniques.
  • Conduct portfolio analyses, providing insights into profitability, volatility, and reinsurance placements, including recommendations for growth, retraction, and/or restructuring.
  • Collaborate with reserving, capital, and risk management functions to ensure a consistent actuarial approach across the business.
  • Work closely with pricing teams across the group to build consistency and share technical pricing acumen.
  • Play a key role in the business planning process for UK Commercial Lines, working with underwriters and management to articulate business plans and rationale.
  • Apply actuarial, financial, valuation, and analytical skills to assess new business opportunities and provide detailed reviews of financial statements, cash flow projections, and business process modelling.
  • Support the Head of UK Pricing in reporting key returns to regulators, as necessary.
  • Assess and identify strategic growth opportunities within the UK Commercial Lines space.
  • Manage technical, industry, and company research using external data.
  • Stay informed about industry developments and trends that could impact the organisation.
  • Develop and maintain productive working relationships with client personnel.

Desired Skills & Experience:

  • Qualified member of the Institute and Faculty of Actuaries (FIA/FFA) or equivalent through experience or alternative qualifications.
  • Minimum of eight years' experience in a UK/European insurance company, financial services, or consulting firm.
  • Previous UK Commercial Lines pricing experience, preferably a minimum of three years.
  • Self-motivated with the ability to operate independently in a fast-paced, global organisation.
  • Knowledge of actuarial concepts, pricing software (such as Emblem or equivalent), financial modelling, risk management, product development, and reinsurance.
  • Strong interpersonal skills and effective interaction at all levels, from executives to junior staff.
  • Excellent organisational skills and the ability to prioritise multiple tasks, projects, and assignments.
  • Strong written and oral communication skills.
  • Dynamic/flexible demeanour with strong client service skills.
  • Ability to interface with team members and client personnel in demanding, deadline-driven situations.

If you are an ambitious actuary looking to make a significant impact in a dynamic organisation, we encourage you to apply. Please submit your CV elise@ogdenscott.com  We look forward to discussing this exciting opportunity with you.

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