Assumed Reinsurance Underwriter - International Treaty

UFG Insurance•,

2d•$150,000 - $220,000•Hybrid

About The Position

UFG is hiring an Assumed Reinsurance Underwriter - International Treaty to underwrite and manage business in a channel of our Assumed Reinsurance portfolio, with primary focus on the International Treaty channel. These channels include international treaty, P&C treaty, retrocessional treaty, MGA/MGU relationships, financial lines, and Funds at Lloyd’s (FAL) investments. The international treaty underwriter will participate in the fall renewal cycle and manage an international portfolio with focus on diversification, profitability, and exposure control, including catastrophe aggregation tracking, with an initial regional focus on APAC and EMEA. Works closely with colleagues and leadership in risk, strategy, claims and finance to develop and implement our business plan for their assigned channel. The person will be part of an underwriting team that is rewarded in part based on actual financial performance. This underwriter will also support the assumed reinsurance department overall, potentially assisting with the underwriting of business outside their assigned channel. This person will play an important role in growing UFG’s risk profile and positioning the portfolio to consistently deliver industry-leading profitability. Contributes to the business unit’s success with significant visibility among senior stakeholders in the organization.

Requirements

Bachelor’s degree in mathematics, Finance, Economics, Statistics, or related field.
5 to 15 years of reinsurance underwriting or closely related experience; international treaty background preferred, with willingness to develop further under UFG’s training, to include in part: Submission analysis and screening. Treaty underwriting Reinsurance accounting principles. Maintaining reinsurance broker relationships. Managing General Agency (MGA) business models. Commercial lines insurance.
Experience in communicating underwriting analysis to various groups including non-technical and executive audiences.
Strong subject matter exposure and leadership potential.
Understands the principals of portfolio management and how to make a positive financial impact through diversification, materiality, profitability, and relationships.
Knowledge and understanding of insurance industry products, services, and business practices.
Knowledge and understanding of the challenges faced in the P&C insurance business.
Self-motivated, collaborative, creative, and diligent.
Strong written and oral communication skills.
Ability to speak publicly and build the UFG brand.

Nice To Haves

Graduate degree in related field is preferred.
Relevant designations in any of the following is preferred: Associate in Reinsurance (ARe), Associate in risk management (ARM), Chartered Property Casualty Underwriter (CPCU), and Associate or Fellow of the Casualty Actuarial Society (ACAS or FCAS).
International treaty background preferred, with willingness to develop further under UFG’s training

Responsibilities

Underwrite international treaty business (and selected retrocession) in line with UFG guidelines and risk appetite. Lead the underwriting process for individual treaty submissions. Following our general process for underwriting reinsurance treaties, this person will lead the analysis and due diligence and will be a key contributor to growing the treaty portfolio.
Support other reinsurance business. This person will support the sourcing, underwriting, and execution of assumed reinsurance business through other channels, including retro treaty, MGA/MGU business, financial lines reinsurance, and Funds at Lloyd’s (FAL) investments.
Assist in the financial accounting for the reinsurance book. This person will work with the accounting department to properly account for reinsurance treaties in our financial statements.
Assist in the strategic plan for growing the reinsurance book. This person will support the annual planning process for growing the overall reinsurance book with specific focus on the P&C treaty channel.
Develop and maintain broker and cedent relationships. Serve as the consistent point of contact for brokers and cedents in key regions (initial focus on Asia), supporting business development through market visits, conferences, and periodic international travel.
Monitor markets and communicate insights. Track market trends, main perils, regulatory changes, and structural developments across target territories, and communicate insights internally. Collaborate closely with actuarial, claims, and finance to ensure appropriate pricing, wording, and portfolio steering.