Reserving Actuary

Job Profile Summary

As a Reserving Actuary at Chaucer, you will be part of a dynamic team responsible for underwriting year and GAAP reserving, SII Technical Provisions, and assisting in the production of IFRS 17 figures for our parent company. Chaucer writes a diverse book of direct and reinsurance business through its main syndicate – 1084, and a Dublin-based insurance company – CIC. We also write nuclear-related property and liability business through Syndicate 1176.

Chaucer has experienced significant but sensible growth over the past five years, particularly in the area of ‘Partnership’ business. These larger, highly individual deals are often complex and reserving intensive, and we are excited to expand our team by adding a newly qualified actuary to help manage the increasing challenge of setting appropriate reserves and bringing insights to the performance of this and all Chaucer business as we grow. 

Key Responsibilities

• Support the operation of a robust quarterly reserving process, providing peer review and sign-off and ensure the reserving policy is implemented appropriately.

• Support the reserving function by conducting deep dives into particular classes or areas of the business, taking the lead on certain projects.

• Suggest innovative ideas for gaining insights from Chaucer’s extensive data to benefit management and stakeholders, and bring those ideas to fruition.

• Identify trends in data and areas of risk, both within the company and in the broader market, to provide actionable insights and support strategic decision-making.

• Assist in the review of reserving assumptions, maintain reserving models, and explore areas to enhance methodology.

• Support efforts to improve visualisation of results.

You will regularly collaborate with other teams within Chaucer and communicate results to stakeholders. There is potential to get involved in reserving for the Partnership business and IFRS 17 reporting work. Over time, the right individual will become a key senior member of the team.

Skills and Competencies

• London Market or Lloyd’s reserving experience.

• Comprehensive knowledge of Excel and VBA.

Education

• 2:1 or 1st degree in Maths or a Maths-related subject (e.g. Physics, Engineering, Statistics).

• 3 or more A Levels or equivalent, including Maths.

• Recently qualified (FIA or equivalent) within the last two years.

Career Growth Opportunities

At Chaucer, we believe in nurturing talent and providing ample opportunities for career growth. As you gain experience and demonstrate your capabilities, you will have the chance to take on more significant responsibilities and lead key projects, with opportunities to advance to senior roles within the reserving team. Additionally, we support continuous professional development through training programs, workshops, and mentoring, ensuring that you have the resources and guidance needed to achieve your career goals.

About the Team

The Reserving team at Chaucer is composed of 15 talented individuals, one of whom is based in Ireland. We are looking for someone with good London Market or Lloyd’s reserving experience to join our well-established team in the London office. Chaucer operates a hybrid working environment, and for the Reserving team, this means being in the office at least two days a week on average, providing a balance of flexibility and opportunity to interact and collaborate effectively with colleagues.

ABOUT US

Chaucer is a leading insurance group at Lloyd’s, the world’s specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.

Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website.

Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation). 
A diverse workforce and an inclusive workplace are core to our success as a business and integral to our winning strategy and culture. We recruit from the widest available pool of talent, and our hiring, assessment and selection process is fair, free from bias and one which ensures we select the right person for the job, based on merit. We are committed to promoting a culture that actively values difference, and recognises that everyone has the right to be treated with dignity and respect throughout their employment.
We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.