Senior Facultative Reinsurance Underwriter

Eden James Consulting
London (South)
From £80,000 to £90,000 per annum + £6250 car allowance + 20% bonus
30 Jul 2016
19 Oct 2016
Contract Type
Senior Facultative Reinsurance Underwriter (Engineering / Construction Underwriting or Broking experience required) London £80,000-£90,000 basic, plus £6,250 car allowance typically 20% bonus We are seeking a Senior Facultative Reinsurance Underwriter on behalf of an established, and very well regarded London Market Insurer. This is a newly created position in an established team, and there are definite opportunities to further develop your career quickly. The Global team are responsible for carrying out the Global facultative reinsurance purchasing across all of their short tail classes of business, although this role has a main focus on Engineering /Construction fac purchasing and will be considered the Global go to person in regards to this. The current Global team has experts covering their other short tail lines of business (marine and property for example), so although this role will be predominantly focusing on Engineering / Construction lines, there will be involvement in other LOB and technical training will be provided. We are seeking someone with a good working knowledge of Engineering / Construction facultative reinsurance experience, gained in either Underwriting or Broking roles. Interested candidates will also have a network of relevant broking and underwriting contacts in the London Market. Aside from placing facultative reinsurance, either directly or via brokers, the role will also involve carrying out new ways of managing and coordinating the fac reinsurance purchasing within the business on a Global basis. You will support development of metrics and processes that allow an evaluation of each fac contract that is purchased, including the understanding of the natural peril exposure within each contract. Other Responsibilities include: Oversee projects to improve the data collection of the fac purchasing. Analyse the resulting data and make strategic recommendations as to how the fac purchasing within the business can be improved and optimized. Oversee implementation of any such recommendations agreed by the Board. Work together with Chief Underwriting Officers and Class of Business Heads, in order to create a proper understanding of exposure, and support the purchase of appropriate coverage for individual and portfolio type risks. Analyse and evaluate the cat risk transferred to third parties through fac reinsurance, and make recommendations to optimize this purchasing. Liaise with relevant stakeholders (e.g. Risk Management, Actuarial, Claims) with respect to fac placements. Achieve best terms and conditions in facultative reinsurance placements, and where appropriate, develop innovative reinsurance solutions. Secure contract certainty and alignment of reinsurance conditions with underlying business; Ensure complete and compliant facultative reinsurance cessions. Requirements At least 3 years experience in Engineering / Construction Underwriting or Broking and Reinsurance management position, with a deep understanding of reinsurance practice. Ideally a Degree in Mathematics, Finance, Business Administration or another area that involves a strong focus on quantitative analysis. However, this isn't essential. Please apply online, or, for a confidential initial conversation, please contact Vicky Bunn, Associate Director at Eden James Consulting on 0203 805 5534. This job was originally posted as