International Casualty Reserving
Non-Life international Casualty Actuary - Reserving
Our Client is looking for a strong GI actuary with approx. five or more years’ non-life reserving experience.
Our very large international Dublin based Client is looking for an experience Non-Life Reserving actuary to manage their international Casualty business. This portfolio has circa $6.0 billion of gross of reinsurance reserves and $1.4 billion annual gross earned premium.
This is a high profile role where you will interact with various senior management positions across this large International Organization
Given its high profile within this global organization, this role therefore comes with great potential for advancement, either locally or internationally, whichever you desire.
International Casualty primarily encompasses the following lines of business:
Corporate & Commercial business,
General Liability Claims Made & Occurring,
Auto-Parts Suppliers (Product Liability),
You will actively participate in the setting of the budget loss ratio for various segments of the business and for the underlying portfolios including evaluation of their underwriting strategies.
You will opine on the profitability of the business through both the reserves review process and the Solvency II Technical Provisions process, and report to the business and the management of the company on these results and their implications for profitability at the business group and segment level.
You will also support the business at the level of the different legal entities that the underwriters use with a clear understanding of the different nature of these portfolios. You will have responsibilities to the individual legal entity’s actuaries to rationalize, document and present their results at these different levels.
The role will include reporting of results to Finance and support the second opinion including review of external consultants.
You will have involvements with the worldwide underwriting teams responsible for these businesses, as well as interactions with their Pricing actuaries, the Claims team, the Ceded Re team and the Finance team.
Quarterly Financial Reporting: Delivery of quarterly performance analysis for the business. This will include consideration of large loss and catastrophe activity along with emerging experience in respect of attritional losses. The analyses, delivery and reporting will cover both reserves and Solvency II Technical Provisions.
Valuation Analysis: The valuation is completed twice a year following quarter 1 and quarter 3 Actual vs Expected analysis.
Profitability Analysis: Regular evaluation of ongoing profitability of the business feeding into Business Planning considerations, but also to support portfolio management and strategy within the business.
Business Planning: The Actuarial Financial Reporting team is a key contributor to the development of the AXA XL division business plan each year, and this role actively participates in the setting of the target budget loss ratios at the different portfolio levels. This will include evaluation of underwriting strategies with the business and their pricing actuaries.
Special Projects: Alongside your business and legal entity responsibilities, you may also become involved in special projects intended to contribute to the development of the Actuarial Financial Reporting team as a whole which could involve development of processes or exhibits or focused investigations regarding new methodologies or assumptions potentially impacting the reserving analysis for all lines.
Our client is looking for someone who has these abilities and skills:
Planning & Organisation.
Strategic Thinking and Tactical Implementation.
Actuarial Experience: Qualified actuary with relevant experience within the non-life insurance Industry, with a significant focus on reserving. Knowledge of ResQ software and excel add-in would be an advantage. Knowledge of Solvency II regulations and developments. A track record which demonstrates development of leadership capabilities as well as the ability to ensure timely delivery under pressure is essential.