Senior Pricing Actuary – COG Marine

Senior Pricing Actuary – COG Marine

Location: London
Job Type: Full-time/Permanent
Reports to: Head of Pricing for COG (Property and Casualty), matrix to Head of Marine Underwriting, COG

Who We Are

Chubb is the world’s largest publicly traded property and casualty insurer. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. We are distinguished by our extensive product and service offerings, broad distribution capabilities, exceptional financial strength, and local operations globally.

The Role

The Senior Actuary – Marine provides actuarial pricing and portfolio management support to the Chubb Overseas General (COG) Marine Underwriting Team. This includes all aspects of pricing—building and calibrating pricing models (Cargo, Specie, Hull), profitability studies, outwards reinsurance, planning, and price monitoring. The role-holder will liaise closely with pricing teams in each geographic region, the global catastrophe modelling unit, the ceded reinsurance team, claims, reserving, and capital modelling teams. Significant exposure to Senior Management requires confidence, expertise, and excellent presentation and communication skills.

Key Responsibilities

• Rating
  • Conduct formal reviews and approvals of all new rating models and major recalibration exercises to ensure accuracy and compliance with best practices.
  • Facilitate knowledge sharing and collaboration across regions through round tables and regular meetings.
  • Provide pricing support and opinion to underwriters on individual large account pricing.
  • Improve and enhance the quality of data captured within rating models and collated at a COG level.
• Portfolio Management & Profitability Studies
  • Conduct peer reviews of regional portfolio assessments to ensure consistency, accuracy, and adherence to best practices.
  • Work closely with underwriting management teams to formulate and implement strategies aimed at improving portfolio profitability.
  • Investigate trends or changes in performance to identify shifts in profitability.
  • Carry out ad-hoc profitability studies to support strategic business aims.
• Planning
  • Coordinate business planning for COG via management of regional pricing teams.
• Reinsurance
  • Oversee completion of reinsurance submissions for both internal and external arrangements, ensuring accuracy and timeliness.
  • Evaluate individual outwards external reinsurance purchases, including direct engagement with reinsurance brokers.
  • Review RI premium allocations.
• Data and Analytics
  • Work with COG analytics teams to implement best practices in modelling and data techniques.
  • Identify areas where regional analytics teams can supplement existing analysis, including external data and data scraping of policy and claim documentation.
• Reporting
  • Assist in production of regular management reports for rate change monitoring, price adequacy statistics, exposure trends, and other ad hoc reports.
  • Improve and enhance the quality of data captured within rating models and collated at a COG level.
  • Discuss COG-wide trends with regional actuarial and underwriting teams.
  • Implement best practice and minimum standards for KPIs.
• Other
  • Provide feedback to Chubb Group Risk Modelling Unit to help define hurdle combined ratios.
  • Participate and present quarterly actuarial updates to the Marine Product Board.
  • Pursue ongoing education opportunities to enhance technical skills and maintain professional actuarial credentials.

Key Skills & Experience:

• Qualified Actuary 
• Hands-on pricing or reserving experience in Marine (global or multi-regional environment highly desirable).
• Track record of successfully building and implementing pricing models and/or portfolio monitoring tools.
• Proven ability to build and maintain effective working relationships with underwriters and senior management.
• Experience mining and using large datasets, including basic experience with database languages such as SQL or Python.
• Excellent Excel skills, both handling formulas and presentation.
• Strong leadership and stakeholder management skills.
• Excellent communication and presentation skills.
• Flexibility to adjust to different stakeholder reporting requirements.