Reinsurance Underwriter Casualty US Treaty

Cedar Rapids, IA - USA

Monthly Salary: Not Disclosed

Posted on: 30+ days ago

Vacancies: 1 Vacancy

The job posting is outdated and position may be filled

Job Summary

UFG is looking for an Assumed Reinsurance Underwriter who will underwrite and manage casualty US Treaty business in our Assumed Reinsurance portfolio and will work closely with colleagues and leadership in risk strategy claims and finance to develop and implement our business plan for their assigned channel. The person will be part of an underwriting team that is rewarded in part based on actual financial performance.

The Underwriter will also support the assumed reinsurance department overall potentially assisting with the underwriting of business outside their assigned channel. This person will play an important role in growing UFGs risk profile and positioning the portfolio to consistently deliver industry-leading profitability. Contributes to the business units success with significant visibility among senior stakeholders in the organization.

The ideal candidate will have experience with casualty US treaty business and knowledge of medical malpractice reinsurance market is a plus.

Responsibilities:

Lead the underwriting process for individual treaty submissions. Following our general process for underwriting reinsurance treaties this person will lead the analysis and due diligence and will be a key contributor to growing the treaty portfolio.
Support other reinsurance business. This person will support the sourcing underwriting and execution of assumed reinsurance business through other channels including retro treaty MGA/MGU business financial lines reinsurance and Funds at Lloyds (FAL) investments.
Assist in the financial accounting for the reinsurance book. This person will work with the accounting department to properly account for reinsurance treaties in our financial statements.
Assist in the strategic plan for growing the reinsurance book. This person will support the annual planning process for growing the overall reinsurance book with specific focus on the P&C treaty channel.

Qualifications:

Education:

Bachelors degree in Mathematics Finance Economics Statistics or related field.
Graduate degree in related field is preferred.

Certifications/Designations:

Employees are expected to participate in continuing education throughout their careers.

Relevant designations in any of the following is preferred:

Associate in Reinsurance (ARe)
Associate in Risk Management (ARM)
Chartered Property Casualty Underwriter (CPCU) and
Associate or Fellow of the Casualty Actuarial Society (ACAS or FCAS).

Experience:

Casualty US treaty reinsurance underwriting experience a strong plus
10 years of relevant experience to include in part:
- Submission analysis and screening.
- Treaty underwriting.
- Reinsurance accounting principles.
- Maintaining reinsurance broker relationships.
- Managing General Agency (MGA) business models.
- Commercial lines insurance.
- Other P&C and financial lines of business.
Experience in communicating underwriting analysis to various groups including non-technical and executive audiences.

Knowledge skills & abilities:

Strong subject matter exposure and leadership potential.
Understands the principals of portfolio management and how to make a positive financial impact through diversification materiality profitability and relationships.
- Knowledge and understanding of insurance industry products services and business practices.
- Knowledge and understanding of the challenges faced in the P&C insurance business.
Exemplary personal traits including:
- Self-motivated collaborative creative and diligent.
- Strong written and oral communication skills.
- Ability to speak publicly and build the UFG brand.

Working Conditions:

General office environment with travel to industry events reinsurance audits and broker visits. Occasional overseas travel.
Remote (USA) or Cedar Rapids office.

Disclaimer:

The above statements are intended to describe the general nature and level of work being performed by individuals assigned to this job. It is not designed to contain or be interpreted as a comprehensive list of all duties responsibilities and skills required. Additional tasks and requirements may be assigned as necessitated by business need. UFG retains the right to modify the description of this job at any time