Appointed Actuary - Reinsurance(General Insurance)

Michael Page; Pune District; On-site; INR 4,000,000 - 7,000,000; Full time

Benefits offered by this job

Career growth

Professional development

Performance recognition

Job summary

Michael Page is recruiting for a senior actuarial leadership role in general reinsurance based in India. The successful candidate will certify reserves, monitor development patterns, and lead pricing and profitability analyses for reinsurance treaties.

Role requires 10–15+ years of actuarial experience, with a Fellow designation (IAI/IFOA) and COP. You will support underwriting, assess capital adequacy, and guide governance of actuarial data and models.

Qualifications

• Graduate / Postgraduate degree in Actuarial Science, Mathematics, Statistics, or a related discipline.
• Fellow of the Institute of Actuaries of India (IAI) or IFOA - Mandatory.
• Strong exposure to non-life reserving, reinsurance pricing, and catastrophe risk modelling.
• Candidate should possess a valid IAI Certificate of Practice (COP) or should be able to procure.
• Industry: General Insurance / Reinsurance.
• Experience: 10-15+ years of relevant actuarial experience with strong regulatory and audit exposure.
• At least 4 years of experience post fellowship.

Responsibilities

• Certify appropriate technical reserves for general reinsurance, including IBNR and outstanding claims liabilities.
• Monitor loss development patterns, reserve adequacy, and portfolio volatility across reinsurance treaties.
• Identify emerging experience trends and reserve risks impacting the reinsurance portfolio.
• Lead actuarial pricing, experience analysis, and profitability assessments for general reinsurance treaties.
• Support underwriting teams on pricing assumptions, risk evaluation, limits, deductibles, and treaty structures.
• Analyse portfolio performance to support underwriting strategy and portfolio optimisation decisions.
• Assess solvency position, capital adequacy, and alignment with the company's risk appetite framework.
• Conduct stress testing and scenario analysis, including catastrophe and accumulation risk assessments.
• Develop and review retrocession and risk transfer strategies to manage volatility and optimise capital utilisation.
• Prepare actuarial opinions, certifications, and reports for the Board, Audit Committee, regulators, and external auditors.
• Ensure compliance with applicable actuarial standards, regulatory requirements, and professional guidelines.
• Ensure accuracy, integrity, and governance of actuarial data, models, and assumptions.
• Identify and manage actuarial risks and uncertainties inherent in general reinsurance operations.
• Lead and develop the general reinsurance actuarial team, ensuring technical capability and governance standards.
• Act as the principal actuarial advisor on non-life reinsurance matters to senior management and key stakeholders.
• Stay current with developments in general reinsurance markets, actuarial practices, and regulatory frameworks.

Skills

Non-life reserving

Reinsurance pricing

Catastrophe risk modelling

Actuarial governance

Education

Fellow of IAI or IFOA

COP (IAI Certificate of Practice)

Actuarial degree (BA/MA/ MSc)

Job description

• Be a part of next-generation private Indian reinsurer
• Be responsible for providing independent actuarial oversight

Next-generation private Indian reinsurer.

Job Description

• Certify appropriate technical reserves for general reinsurance, including IBNR and outstanding claims liabilities.
• Monitor loss development patterns, reserve adequacy, and portfolio volatility across reinsurance treaties.
• Identify emerging experience trends and reserve risks impacting the reinsurance portfolio.
• Lead actuarial pricing, experience analysis, and profitability assessments for general reinsurance treaties.
• Support underwriting teams on pricing assumptions, risk evaluation, limits, deductibles, and treaty structures.
• Analyse portfolio performance to support underwriting strategy and portfolio optimisation decisions.
• Assess solvency position, capital adequacy, and alignment with the company's risk appetite framework.
• Conduct stress testing and scenario analysis, including catastrophe and accumulation risk assessments.
• Develop and review retrocession and risk transfer strategies to manage volatility and optimise capital utilisation.
• Prepare actuarial opinions, certifications, and reports for the Board, Audit Committee, regulators, and external auditors.
• Ensure compliance with applicable actuarial standards, regulatory requirements, and professional guidelines.
• Ensure accuracy, integrity, and governance of actuarial data, models, and assumptions.
• Identify and manage actuarial risks and uncertainties inherent in general reinsurance operations.
• Lead and develop the general reinsurance actuarial team, ensuring technical capability and governance standards.
• Act as the principal actuarial advisor on non-life reinsurance matters to senior management and key stakeholders.
• Stay current with developments in general reinsurance markets, actuarial practices, and regulatory frameworks.

The Successful Applicant

• Graduate / Postgraduate degree in Actuarial Science, Mathematics, Statistics, or a related discipline
• Fellow of the Institute of Actuaries of India (IAI) or IFOA - Mandatory
• Strong exposure to non-life reserving, reinsurance pricing, and catastrophe risk modelling preferred
• Candidate should possess a valid IAI Certificate of Practice (COP) or should be able to procure
• Industry: General Insurance / Reinsurance
• Experience: 10-15+ years of relevant actuarial experience with strong regulatory and audit exposure
• At least 4 years of experience post fellowship

What's on Offer

• Opportunities to contribute to and grow
• Supportive environment for professional development.