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Reporting to the LM Re Head of Property, you will work with the team to drive actuarial pricing support to improve business performance, growth and meeting operational goals.
The role
The role will be with the Property metaline team have so a focus on property business. There is potential to also cross collaborate across Casualty and Specialty business. You will assist in providing consultation to senior managers and other groups on actuarial, underwriting, financial and strategic matters. Core deliverables will involve case pricing, model governance and planning.
You will work closely with the following stakeholders:
- Underwriting and Portfolio Managements: To help drive better underwriting decision making through account pricing, portfolio deep dives and product development
- LM Re Reserving Team: To understand the key drivers of the reserves, be able to communicate this to management/UW and improve pricing/reserving output based on integrated feedback loops. This will include portfolio deep dives
- LM Re Data & Analytics Team: As a key user of central MI, you will be critical in ensuring the required data is captured, appropriate underwriting metrics are designed and used
- LM Re Exposure Management Team: With catastrophe risks being a significant element of the portfolio, it will be critical to work with the team in understanding the models, validation work and what that means for the business. Facilitating communication between the exposure management team and underwriting team is key.
About the department
The actuarial team evaluate business performance and provide LM Re management with a clear, risk-based view for making decisions on business strategy and risk mitigation. The department covers aspects of actuarial work including pricing, non-cat parametrisation and business planning. The team also collaborate with other functions in the actuarial support of data & analytics, capital management, exposure management and reinsurance purchasing & strategy.
The LM Re actuarial team consists of 24 members, across Singapore, Paris, London, Stamford, and Boston.
Key responsibilities
Pricing/Rating
- Support and development of underwriter rating tools
- Individual account pricing and performance monitoring
- Provision and improvement of monthly renewal rate monitoring and rate adequacy information.
- Portfolio profitability analysis for new business opportunities.
- Supporting both local and global Group pricing standards, Analytics and new product initiatives
Capital Model and Business Plan Parameterisation
- LM Re’s Business Planning and Capital Management processes are intrinsically linked, and Actuaries are responsible for supporting the senior actuary in validating expected loss ratios and parameterising Capital Model underwriting risk.
- Experience and exposure-based analysis of claims frequency and severity distributions.
- Working with Exposure Management to understand and advise on catastrophe and other event aggregations.
- Work to understand the external and competitive landscape and to increase help LM Re’s position and reputation in the market
- Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LM Re's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity.
Skills and experience
- Newly Qualified Actuary
- Property reinsurance Industry experience, other reinsurance specific experience would be an advantage
- Excellent communication skills (written and verbal)
- Assume ownership and responsibility for delivery, manage timelines and workload effectively, ensure well-reviewed work, respond proactively to feedback, and take responsibility for detailed handovers and personal skill development.
- Strong interpersonal, verbal and written skills, communicating with a range of internal and external clients of varying experience, expertise and appreciation of actuarial techniques.
- Strong negotiation, analytical and decision-making skills required.
- Strong IT skills with practical experience (and/or desire to learn) in Excel, SQL, Python, R, PowerPivot and PowerBI. Python experience would be an advantage
- Utilise relevant methods, data, and tools effectively to solve technical problems, communicate technical concepts effectively to varying audiences, draw meaningful conclusions and make recommendations, enhance actuarial analyses ensuring clear audit trails.
- Strong desire to learn and continually advance breadth and depth of expertise supporting delivery of array of different projects and workstreams. High degree of self-motivation, maturity and positive outlook
- Anticipate and adapt to business and customer needs, aligning work with Liberty Mutual's broader goals and making informed decisions based on organizational understanding and key metrics.
- Foster cross-functional relationships, engage in inclusive problem-solving, and drive innovative solutions by considering multiple stakeholder perspectives and requirements.
- Requires educational attainments: 2.1 or better (or equivalent) in a numerate/scientific degree and an A / A* in A-Level Maths or equivalent.
About us
Liberty Mutual Reinsurance is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.
Our people are key to our success. That is why “Put People First” is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:
- Offering a vibrant and inclusive environment and committing to their career development.
- Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
- Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
- A supportive culture, which includes promoting a healthy work-life balance and working flexibly.
