Facultative Reinsurance Underwriter - Property & Engineering

hannoverre•Toronto, ON

10d

About The Position

We are looking for a Facultative Reinsurance Underwriter to join our Facultative team. In this role, you will underwrite both new and renewal facultative reinsurance business, partnering with brokers and insurers to deliver tailored risk solutions while contributing to the profitable growth of our portfolio. The successful candidate will be responsible for evaluating, pricing and underwriting individual insurance risks submitted by brokers / insurers for reinsurance coverage on a facultative (risk-by-risk) basis. The Facultative Reinsurance Underwriter plays a pivotal role in the continued profitable underwriting and growth of the company’s facultative reinsurance portfolio, combining technical expertise, market acumen, and relationship-building skills to deliver tailored risk solutions to clients.

Requirements

College Diploma or University degree with a focus in Business, Economics, Finance, Engineering or a related field
Minimum 5 years of underwriting experience in the property or engineering insurance or reinsurance market preferred
Strong analytical and decision-making skills
Excellent negotiation and interpersonal abilities
Effective written and verbal communication skills
High attention to detail and organizational skills
Proficiency in relevant computer applications (e.g., MS Office, underwriting/pricing tools & file management systems)
Ability to work independently and collaboratively in a fast-paced environment

Nice To Haves

Professional/insurance designations (e.g., CIP, CRM, RPLU)
Financial analysis skills

Responsibilities

Evaluate and underwrite complex risks submitted for facultative reinsurance and semi-automated program business in property and engineering
Analyze exposure, historical loss data, and risk characteristics to determine appropriate pricing, terms, and conditions using company rating and assessment tools
Apply underwriting guidelines and negotiate pricing to win profitable business while remaining competitive
Build and maintain strong relationships with brokers, cedants (primary insurers), and other stakeholders in the reinsurance market
Represent the company at industry events and meetings to enhance market presence and reputation
Identify and pursue opportunities for portfolio growth and improvement.
Ensure all underwriting activities comply with internal policies, procedures, and regulatory requirements
Maintain accurate underwriting records and documentation
Contribute to ongoing process improvement by identifying opportunities to enhance underwriting practices, tools, and efficiencies.
Stay updated with industry trends, market conditions, and best practices in the facultative reinsurance space
Facilitate the processing of business transactions and ensure all documentation is complete and up to date