Outwards Reinsurance Analyst

Canopius; Greater London; Hybrid; GBP 45,000 - 65,000; Full time

Job summary

Canopius in London is seeking a Reinsurance Analyst to deliver high quality analytical support to the Outwards Reinsurance function. The role focuses on buying, monitoring and strategic planning of outwards reinsurance, ensuring structures are optimised and aligned with the business plan.

Key responsibilities include contributing to the reinsurance strategy, producing renewal modelling, liaising with brokers, and building modelling tools.

Qualifications

• Strong data and modelling skills with interest in automation and process improvement.
• Knowledge of Lloyd’s and London market insurance/reinsurance classes and reinsurance products.
• Experience with actuarial methods preferable (capital modelling or pricing).
• Excellent verbal and written communication, detail-oriented and proactive.

Responsibilities

• Contribute to the short, medium and long term outwards reinsurance strategy for the group.
• Analyse reinsurance structures and strategies to optimise profitability within the internal risk appetite framework.
• Develop, review and maintain frameworks for non-catastrophe outwards reinsurance metrics.
• Support the formulation of outwards reinsurance proposals as part of the business planning process.
• Produce renewal modelling for group treaty reinsurance and other ad-hoc reinsurance purchases.
• Liaise with brokers to validate renewal modelling assumptions and provide modelling data as required.
• Contribute to the analysis and reconciliation required for outwards reinsurance renewal packs.
• Carry out post purchase calculations for regulatory submissions.
• Track actual reinsurance purchases against plan.
• Enhance data quality, processes and the effective use of technology to improve and automate reinsurance analytics.
• Build and maintain reinsurance modelling tools.
• Liaise regularly with the Actuarial team, providing updates on reinsurance strategy, purchases and business planning.

Skills

Data analysis

Modelling

Lloyd's knowledge

Actuarial methods

Communication

Attention to detail

Initiative

Job description

As a Reinsurance Analyst, you will be responsible for providing high quality analytical support to the Outwards Reinsurance function. The role supports the effective purchasing, monitoring and strategic planning of outwards reinsurance, with a focus on ensuring reinsurance structures are optimised and aligned with the business plan.

Key Responsibilities:

Reinsurance Strategy:

Contribute to the short, medium and long term outwards reinsurance strategy for the group

Analyse reinsurance structures and strategies to optimise profitability within the internal risk appetite framework

Develop, review and maintain frameworks for non-catastrophe outwards reinsurance metrics

Support the formulation of outwards reinsurance proposals as part of the business planning process

Pre and Post Reinsurance Purchases:

Produce renewal modelling for group treaty reinsurance and other ad-hoc reinsurance purchases

Liaise with brokers to validate renewal modelling assumptions and provide modelling data as required

Contribute to the analysis and reconciliation required for outwards reinsurance renewal packs

Carry out post purchase calculations for regulatory submissions

Track actual reinsurance purchases against plan

Enhance data quality, processes and the effective use of technology to improve and automate reinsurance analytics

Build and maintain reinsurance modelling tools

Communication and wider team responsibilities:

Liaise regularly with the Actuarial team, providing updates on reinsurance strategy, purchases and business planning

Interact and develop relationships where necessary internally (not limited but including finance, actuarial and underwriting teams) or externally (with consultants, brokers or third parties) in support of the successful execution of the role.

Skills and Experience

Strong data and modelling skills, with an interest in automation and process improvement

Knowledge of Lloyd’s and London market insurance/reinsurance classes and reinsurance products.

Experience with actuarial methods preferable (capital modelling or pricing)

Excellent communication skills - both verbal and written

An individual who will identify and challenge under-performance in the organisation and strive for constant improvement

Strong attention to detail and focused on the delivery of high quality work within agreed deadlines – including thorough self-review and error checking

Highly motivated, enthusiastic and structured working style

Proactive and able to use own initiative

Ability to think and act creatively around related issues