Associate Actuary - Reinsurance Pricing

UFG Insurance; United States; Hybrid; USD 124,000 - 163,000; Full time

Benefits offered by this job

Remote or Hybrid work arrangement

Annual incentive compensation

Retirement plans with employer contrib

Generous time-off program

Employee well-being programs

Job summary

UFG Insurance seeks an Associate Reinsurance Actuary to apply advanced actuarial methods and judgment to pricing, portfolio management, and underwriting strategy. You will influence decisions with insights across underwriting, catastrophe modeling, claims, and leadership.

The role includes technical leadership, mentorship of professionals, and contributions to pricing tools and best practices, while operating with independence and advising both technical and non-technical stakeholders.

Qualifications

• 6+ years of Commercial Insurance or Reinsurance pricing experience.
• Experience with pricing in reinsurance preferred.
• Ability to apply advanced actuarial judgment to pricing and portfolio decisions.

Responsibilities

• Perform pricing reviews for complex new and renewal reinsurance business.
• Work with underwriters to develop timely and accurate pricing analyses and recommendations.
• Peer review work of other actuaries on the Reinsurance Pricing Team.
• Mentor analysts on the Reinsurance Pricing Team.
• Make informed actuarial recommendations based on professional judgment and experience.
• Lead development and governance of experience and exposure rating tools.
• Perform premium forecasting in support of reserving and planning.
• Support portfolio steering through analysis of industry exposures and results.

Skills

SQL

Python

R

Education

Bachelor’s degree in actuarial science, mathematics, statistics, or related field

ACAS designation strongly preferred

Near completion of ACAS

Job description

UFG is looking for a highly skilled actuarial professional striving to make a difference at a growing, innovative company. As an Associate Reinsurance Actuary, you will apply advanced actuarial techniques and professional judgment to evaluate complex reinsurance opportunities, influence underwriting strategy, and support portfolio management objectives. In partnership with underwriting, catastrophe modeling, claims, and business leaders, you will provide actuarial insights that drive profitable growth and informed decision-making across the organization.

In addition to leading complex pricing analyses, this role provides technical leadership through the review of work prepared by other actuarial team members, mentorship of developing professionals, and contributions to pricing methodologies, tools, and best practices. The Associate Reinsurance Actuary is expected to operate with a high degree of independence, influence business decisions through actuarial expertise, and serve as a trusted advisor to both technical and non-technical stakeholders. This role also offers participation in UFG’s Actuarial Student Program to allow for further development.

• Perform pricing reviews for complex new and renewal reinsurance business to support the UFG growth plan, including:
• Work with underwriters to develop timely and accurate pricing analyses and recommendations.
• Peer review work of other actuaries on the Reinsurance Pricing Team.
• Mentor analysts on the Reinsurance Pricing Team
• Make informed actuarial recommendations based on professional judgment and experience
• Lead in the development, governance, and enhancement of best-in-class experience and exposure rating tools for the business.
• Perform premium forecasting in support of the quarterly reserving and planning process.
• Support UFG’s portfolio steering efforts through analysis of industry exposures and the relationship between UFG and industry results.
• Partner with underwriting leadership to identify portfolio opportunities, concentration risks, and product strategies

Job Specifications:

Education:

• Bachelor’s degree in actuarial science, mathematics, statistics, or related field
• ACAS designation strongly preferred
  • OR near completion of ACAS with demonstrated ability to perform work requiring advanced actuarial judgment

Experience/Qualifications:

• 6+ years of Commercial Insurance or Reinsurance pricing experience; Reinsurance pricing experience preferred.
• Strong technical skills. Proficiency with SQL, Python and/or R a plus.

Knowledge, skills & abilities:

• Excellent verbal and written communication skills.
• Ability to translate mathematical models into strategic advice is critical in this role
• Experience with pricing tools at a large reinsurance company or broker
• Knowledge of R, Python, SQL and data visualization software a plus

Working Conditions:

• This role is eligible for Remote or Hybrid work arrangement. General office environment.

Pay Transparency Statement:

UFG Insurance is committed to fair and equitable compensation practices. The base salary range for this position is $123,865 - $163,368 annually, which represents the typical range for new hires in this role. Individual pay within this range will be determined based on a variety of factors, including relevant experience, education, certifications, skills, internal equity, geography and market data.

In addition to base salary, UFG Insurance offers a comprehensive total rewards package that includes:

• Annual incentive compensation
• Accident, critical Illness & short-term disability insurance
• Retirement plans with employer contributions
• Generous time-off program
• Programs designed to support the employee well-being and financial security.

This pay range disclosure is provided in accordance with applicable state and local pay transparency laws.

Equal Opportunity Employer

This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.