Reporting to: Head of Reserving, IQUW
IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation, and human expertise to make smart decisions, fast.
ERS is the UK's largest specialist motor insurer with an A+ rating. We recognise that for some, motor insurance is more than just a must-have; it's a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isn't enough. That's why we work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer’s needs.
This is a role for a newly-qualified actuary with General Insurance reserving experience, preferably with commercial lines or specialty lines exposure. Reporting to the Head of Reserving and supporting with reserving tasks across all IQUW activities.
- Assist with UK GAAP, Solvency II and US Trust Fund reserving best estimate calculations
- Support review of claims data preparation, support assumption setting and calculation of specific IBNR.
- Assist reserving discussions with other areas of the business, including underwriting, reinsurance, finance and claims to generate reserving results
- Liaise with the business to derive initial natural catastrophe estimates
- Assist with production of Quarterly reserving documentation, presentation packs and reports
- Support the implementation of reserving process enhancements
- Provide assistance to the Finance, Claims, Reinsurance and Underwriting teams as appropriate
- Support regular portfolio analysis of classes
- Assist Finance in the production of Lloyd’s quarterly and annual management returns
- Support the production of Technical Provisions component of annual Actuarial Function Report
- Assist with UW/RI opinions
- Support with production of associated reserving frameworks and policies
- Liaise with external SAO actuaries and auditors
The above duties and responsibilities are not an exhaustive list and you may be required to undertake any other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.
Essential qualifications, skills, and experience
- Qualified member of the Institute and Faculty of Actuaries
- Knowledge of General Insurance reserving techniques and models.
- Lloyd’s of London Market experience preferable
- Minimum of a second class degree in a mathematical or science based subject as well as good ‘A’ Levels (or equivalent) including at least one mathematical subject;
- Experience of coding desirable such as MS Excel VBA , SQL, Python, R
Desirable behavioural attributes
- Strong analytical skills
- Excellent attention to detail
- Good written and verbal communication skills
- Problem solving skills and project management skills
- Excellent interpersonal skills, as there will be a high level of communication