RenaissanceRe is a leading writer of Property & Casualty Reinsurance. For over 25 years, we have helped customers and communities recover and build resilience through our industry-leading ability to understand risk, source efficient capital and rapidly pay claims.Our global team shares a passion for solving our customers’ biggest problems through a collaborative and entrepreneurial culture that empowers employees and rewards creative thinking.
Position: AVP, Actuary
Job Location: London
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About RenaissanceRe
For over three decades, RenaissanceRe has helped its clients manage the risks of operating in a volatile and uncertain world. We’re experts in Property, Casualty, Specialty, Cyber, and Credit reinsurance, consistently recognized for the innovative way we combine data, experience and technology to understand and manage large and complex risks across the world. We are also a business with a real social purpose - we help protect communities around the globe and enable prosperity for all. Our purpose drives us forward every day as we seek solutions to some of the world's most complicated challenges. To learn more, please visit us at Careers - RenaissanceRe (renre.com).
About RenaissanceRe’s Pricing Function
Our Pricing team is a collaborative global team of pricing analysts and actuaries tasked with building a complete and consistent view of risk for inwards transactions across the organisation. We work closely with underwriting teams to deliver accurate and insightful analysis alongside the development of loss estimates for individual transactions. From analysing large datasets to developing bespoke methodologies, we are responsible for handling a wide range of tasks with precision, expertise, and professionalism. Emphasizing teamwork, continuous learning, and innovation, we stay at the forefront of industry best practices to adapt to changing market dynamics.
About the Position
The AVP Actuary is responsible for the evaluation and pricing of opportunities in the Cyber and Specialty lines of business, with a focus towards Cyber.
The AVP Actuary role is based in the London office and will be expected to travel primarily within Europe, with select travel to other RenRe offices (Dublin, Zurich, New York City, and Bermuda).
We believe that meeting the below requirements will position you for success in the role. However, if you fulfil most – but not all – of the expectations, we still encourage you to apply, as we are eager to explore your potential and believe in the ability to grow and learn.
Key Responsibilities
· Work closely with underwriters and analysts to perform qualitative and quantitative actuarial analyses to assess the profitability of Cyber and Specialty contracts
· Communicate analyses effectively to underwriters and senior management
· Collaborate with the actuarial teams across the global organisation and follow consistent pricing practices and approaches
· Communicate with clients and brokers regarding information requirements for more effective evaluation of opportunities
· Learn to use RenaissanceRe systems to effectively extract, manipulate and report on key insights concerning the Cyber and Specialty portfolio
· Learn to use third-party vendor models to effectively extract, manipulate, and report on key insights concerning the Cyber portfolio
· Carry out reparameterization exercises to update pricing models as part of in-depth line of business studies
· Contribute to the ongoing development of RenaissanceRe’s proprietary modelling capabilities by bringing specific skills and knowledge to the organization
· Track industry trends, engage with data aggregators and generally enhance the group’s knowledge of market characteristics with utilization of relevant information, both proprietary and publicly available.
Candidate Qualifications:
· A university degree with emphasis on mathematics, statistics, economics, finance or a similar field
· Attained status of, or made significant progression towards, FIA, ACAS, FCAS, SAV or similar actuarial qualifications
· 5+ years of experience in the insurance industry with a minimum of 3 years in reinsurance
· Prior experience with pricing of reinsurance treaties
· Advanced knowledge of the common types of reinsurance and how they are relevant to each line of business
· Strong communication skills with the ability to effectively explain technical information to a wide range of audiences
· Advanced knowledge of the Microsoft Office suite of applications and database querying
· Manages expectations effectively and adapts to changing needs, concerns and priorities of clients/stakeholders
· Programming knowledge an advantage
At RenaissanceRe, we believe in creating a workplace culture that fosters diversity, equity, and inclusion throughout our business. We have a zero-tolerance policy for harassment and discrimination and take proactive steps to make employees feel valued and empowered to contribute to our collective success. It is RenRe’s policy to ensure equal employment opportunity without discrimination or harassment based on race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, national origin, marital or domestic/ civil partnership status, genetic information, citizenship status, uniformed service member or veteran status, or any other characteristic protected by law.
Our people are our most valuable resource and core to our success. This is a fast-paced business environment, demanding a strong work ethic and a results-oriented approach. We offer competitive compensation and benefits, a comprehensive talent development program, and a reward system in which employees share in the success of the company. We are an engaged member of the communities in which we live and work and have a locally-led giving philosophy with generous employee matching program, global and local community grants and employee volunteerism.We seek diversity, create equity, and practice inclusion. Our people are at the heart of everything we do. We are an equal opportunity employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, national origin, sex, sexual orientation, gender identity, marital status, pregnancy, disability, military status or other legally protected categories.
