Actuary - Delegated Authority Practice

Liberty Specialty Markets; London; Hybrid; GBP 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a talented Actuary / Pricing Manager to join their dynamic team in London. This role offers a unique opportunity to work within a vibrant and inclusive environment, contributing to strategic pricing and analytics for a diverse portfolio. As part of a collaborative team, you will develop innovative pricing models and provide actuarial support, ensuring compliance with best practices. With a commitment to career development and a supportive culture, this position is ideal for someone passionate about making a meaningful impact in the insurance sector while enjoying a healthy work-life balance.

Benefits

Career Development Opportunities

Diversity, Equity and Inclusion Initiatives

Flexible Working Hours

Healthy Work-Life Balance

Qualifications

• Experience in non-life pricing, ideally within the London Market.
• Strong IT skills with advanced knowledge of MS Excel and data manipulation software.

Responsibilities

• Individual account pricing and performance monitoring.
• Compliance and reporting against internal and regulatory standards.

Skills

Qualified Actuary

Pricing Analytics

Data Analysis

Communication Skills

Problem Solving

Commercial Awareness

Education

2.1 or better in a numerate/scientific degree

A / A* in A-Level Maths

Tools

MS Excel

SQL

Power BI

R

Python

Job description

Country: United Kingdom of Great Britain and Northern Ireland

Creation Date: 25-Apr-2025

Employment Type: Permanent

Employment Type: Full time

Ref #: 1234571570

Description & Requirements

Role Title: Actuary / Pricing Manager

Department:Actuarial

Team:London Market & Global Products

Location:Hybrid Working Model with Office in London

Type:Permanent

About the Department & Team:

The Actuarial Function evaluates business performance and provides management with a clear, risk-based view for making decisions on business strategy and risk mitigation. The department covers all aspects of actuarial work including pricing, reserving, business planning, and capital, and supporting exposure management and reinsurance purchasing. The team operates on a global basis with a team of around ninety actuaries, of which around sixty are based in the UK. The Actuarial Function currently comprises the following core teams:

• Pillar Teams: as part of an integrated business function, we collaborate closely with Underwriting and other aligned business functions including but not limited to Claims, Finance, Portfolio Management and Operations. Our responsibilities encompass class-level pricing, business planning, analytics, strategic support and non-standard capital premium risk parameterisation. We operate within multi-functional teams, where roles are effectively managed and backed by a robust centralized infrastructure that includes data, analytics, modelling, reporting, and risk governance, supported by the various Actuarial teams mentioned below.
• Pricing and Analytics Team: a broad and varied remit supporting delivery on key strategic priorities, including delivering new pricing models on leading-edge platforms as part of the wider underwriting transformation. Developing new predictive models and delivering consistent and scalable Actuarial pricing and portfolio analytics MI (Management Information) and standards across LSM, working closely with Pillar Actuaries and Underwriting.
• Reserving Team: responsible for actuarial reserving analysis across LSM Commercial & Specialty and LMRe businesses providing transparent and independent view of business performance through consistently applied reserving best practice. Acting as independent trusted advisors to the business, the team is responsible for objectively communicating the quarterly reserve analyses with insight and confidence
• Actuarial Modelling Team: Maintains and develops the Internal Model for capital assessment and solvency reporting requirements of the legal entities. Working closely with the Actuarial teams above and other LSM and LMRe Enterprise Risk Management and Finance business functions in parameterisation, validation and modelling infrastructure; supporting risk and return on equity-based decision making across the business.

• Pillar Teams: as part of an integrated business function, we collaborate closely with Underwriting and other aligned business functions including but not limited to Claims, Finance, Portfolio Management and Operations. Our responsibilities encompass class-level pricing, business planning, analytics, strategic support and non-standard capital premium risk parameterisation. We operate within multi-functional teams, where roles are effectively managed and backed by a robust centralized infrastructure that includes data, analytics, modelling, reporting, and risk governance, supported by the various Actuarial teams mentioned below.

• Pricing and Analytics Team: a broad and varied remit supporting delivery on key strategic priorities, including delivering new pricing models on leading-edge platforms as part of the wider underwriting transformation. Developing new predictive models and delivering consistent and scalable Actuarial pricing and portfolio analytics MI (Management Information) and standards across LSM, working closely with Pillar Actuaries and Underwriting.

• Reserving Team: responsible for actuarial reserving analysis across LSM Commercial & Specialty and LMRe businesses providing transparent and independent view of business performance through consistently applied reserving best practice. Acting as independent trusted advisors to the business, the team is responsible for objectively communicating the quarterly reserve analyses with insight and confidence

• Actuarial Modelling Team: Maintains and develops the Internal Model for capital assessment and solvency reporting requirements of the legal entities. Working closely with the Actuarial teams above and other LSM and LMRe Enterprise Risk Management and Finance business functions in parameterisation, validation and modelling infrastructure; supporting risk and return on equity-based decision making across the business.

Our priorities for 2025 will be:

Supporting Actuarial’s position in a new operating model as a ‘supply function’ within Liberty Mutual Global Risk Solutions (GRS).

• C ontinuing our implementation of a best-in-class pricing platform for our insurance lines across our global portfolio and delivering analytics that drive enhanced underwriting risk and strategic portfolio management.
• Further building on our strong partnerships with Underwriting and aligned business units, being exceptional trusted advisors in our consistent use and communication of data and analytics capability across our business

About the Role:

This role sits within the Pillar team aligning to the Delegated Authority Practice (DAP) division. These lines account for over $850m of GWP in 2024 across LSM’s London Market operations.Specific business covered:

• Binders comprising of Casualty, Property, Personal Accident and Legal Indemnity
• Market Trackers comprising of Aon Client Treaty, Lectio and Rethink. These tracker facilities cover Property, Casualty, Energy, Marine, Financial Lines and Professional Lines products.
• S upercoverholders comprising of Dual (Financial Lines and Professional Lines) and International Passenger Protection

Reporting Lines:

• The role reports to the Senior Actuary, supporting these lines of business.
• The role is expected to involve day-to-day supervision, mentoring and delegation to an Actuarial Analyst(s).
• Directly supporting and influencing Senior Underwriting management, and collaborative working with Portfolio Management, Finance, Claims, Operations and Enterprise Risk Management functions.

Key Responsibilities:

• Individual account pricing, new business due diligence and performance monitoring.
• Development of underwriter rating tools, technical pricing analytics and platforms.
• Compliance and reporting against internal and Regulatory Best Practice pricing and underwriting risk management standards.
• Strategic portfolio profitability analysis "deep dives" to prospectively inform changing mix of business impact in Business Planning, renewal book remediation and new business growth strategies.
• Business Planning and Capital Management loss ratio parameterisation processes. This includes focus on man-made cat exposure management and risk appetite governance frameworks.
• Liaising with reserving throughout the quarterly reserving processes ensuring feedback loops.
• Provide the highest quality professional service and actuarial support to the business in all aspects of the above responsibilities.
• Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules, Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.

Skills and Experience:

• Qualified Actuary
• Experience of working in a non-life pricing team, ideally within the London Market. Relevant experience from consulting, commercial or personal lines also welcome
• Experience of working within or with Reserving and Capital Functions
• Requires educational attainments: 2.1 or better in a numerate/scientific degree and an A / A* in A-Level Maths or equivalent.
• Strong IT skills – advanced knowledge of MS Excel and the standard MS Office suite is essential. Other experience of working with other big data manipulation and visualisation software such as SQL and Power BI or similar would also be an advantage (although not a starting pre-requisite) for the role, as would analytics coding experience in packages such as R, Python or similar.
• Analytical problem solver with outstanding verbal and written skills, communicating with a range of internal and external clients of varying experience, expertise and appreciation of actuarial techniques.
• Commercially minded, with gravitas to influence and negotiate on well-considered risk-based decision making.
• Proven track record of delegation and people development skills. Ability to work both independently or as part of a wider project team. Flexibility and self-discipline to manage time and competing priorities.
• A growth mindset - highly focused, motivated and committed to ongoing personal learning and development.

About Liberty Specialty Markets (LSM)

Liberty Specialty Markets and LMRe are part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.

Our people are key to our success. That is why "Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:

• Offering a vibrant and inclusive environment and committing to their career development.
• Promoting diversity, equity and inclusion (DEI). OurInclusion Matters frameworkand employee-led networks strengthen the diversity of our workforce and our inclusive environment.
• Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
• A supportive culture, which includes promoting a healthy work-life balance and working flexibly.

For more information, please follow the links below: