About us
At Munich Re Specialty - Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.
At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.
We are currently looking for a Senior Ceded Re Analyst to work with us on a full-time basis in our London office, reporting into the Group Head of Ceded Re.
You will provide commercial and analytical guidance on purchase strategy and execution as a core part of the Ceded Reinsurance function within Munich Re Specialty Global Markets.
Responsibilities:
- Assist in developing reinsurance purchase strategies across Lloyd's and Non-Lloyd's platforms in light of evolving Group risk appetites.
- Contribute to a small core buying team of Senior Ceded Re Analyst, Group Head of Ceded Re and CUO Underwriting Strategy.
- Make recommendations as part of the buying team on Lloyd's and Non-Lloyd's protection strategies and operational functionality.
- Develop a more robust analytical framework in assessing the risk-transfer efficiency of Ceded reinsurance strategies to inform purchasing, requiring close liaison with Capital and Reserving actuarial divisions as well as Underwriting Strategy.
- Steer the production of renewal information with the Group Head of Ceded Re.
- Work closely with the Group Head of Ceded Re and Reinsurance Manager in the coordination and administration of Outwards Reinsurance recoveries.
- Maintain close liaison with Group Head of Exposure Management to ascertain and manage net risk appetite levels.
- Assist in collation and production of MRSGM information to support Reinsurance purchasing.
- Interact with GC/NA5 CUOs regarding possible Reinsurance requirements and proposed solutions.
- Be an active member of the Reinsurance Steering Group (RISG).
- Recommend (in conjunction with Group CUO, CUO Underwriting Strategy and Group Head of Ceded Re) Reinsurance purchasing options to RISG.
- Investigate non-traditional and/or innovative Reinsurance options.
- Manage and coordinate key Reinsurance partner relations (Reinsurers, Reinsurance Brokers, Munich Re Group).
- Help drive forward good conduct for the business to deliver the best outcomes for customers/policyholders.
Knowledge and Skills
- A strong background in reinsurance and strong analytical skills.
- Thorough understanding of Specialty (re)insurance business as well as a comprehensive understanding of the London market and Lloyd's environment.
- Working knowledge of Non-Lloyd's platform Ceded Re operations as we expand beyond Lloyd's.
- Comprehensive understanding of the Lloyd's Principles for Doing Business.
- Understanding of business strategy and the work of the other departments within the organisation.
- Sound knowledge and understanding of reinsurance processes and credit control mechanisms as well as a comprehensive understanding of Lloyd's reinsurance reporting mechanisms and minimum standards.
- Good understanding of regulatory requirements (FCA and PRA), obligations of a certified function holder and Lloyd's compliance requirements.
- Good motivational and personnel management skills.
- Effective liaison with key stakeholders.