VP, Actuary

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 VP Actuary is responsible for the evaluation and pricing of opportunities in the Specialty lines of business, primarily focusing on but not limited to Marine, Energy, Construction, Accident & Health, and Aviation lines.

The VP Actuary role is based in the London office and will be expected to 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 Specialty contracts

• Assist in peer-reviewing pricing analyses performed by the wider Specialty pricing team

• Continuously improve the selection and pricing of risks through the development of new pricing models and the refinement of existing tools.

• Recruit and mentor team members to assume broader roles within the Company. Oversee workflows in collaboration with the underwriting teams.

• Communicate analyses effectively to underwriters and senior management

• Collaborate with all 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 Specialty portfolio

• Carry out and project manage 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 FIA, ACAS, FCAS, SAV or similar

• 8+ years of experience in the insurance industry with a minimum of 5 years in reinsurance; significant prior experience in pricing of inwards 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 including underwriters, brokers, clients, and outside vendors

• Experience in building and managing teams and developing talent

• Excellent understanding of insurance products, coverages, and markets

• Detailed knowledge of actuarial methods including trending, loss development, fitting of loss distributions, frequency/severity modelling techniques, and (re)insurance data sources

• Superior quantitative skills, intellectually curious and willing to question underlying assumptions to ensure the results are sound.

• 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 RenaissanceRe’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.