Outwards Reinsurance - Junior Purchaser
We have an exciting opportunity within our Outwards Reinsurance Placement team to support the delivery of the end to end placement process. This role is key in ensuring the effective delivery of excellent, high quality analytics to assist purchasing decisions and effectively manage risk.
Key Responsibilities
- Produce comprehensive outwards reinsurance information and analytics for business planning, strategic decision making and portfolio optimisation.
- Develop and maintain detailed reinsurance programme analytics, including exposure analysis, loss scenarios, pricing comparisons and coverage assessments across both proportional (quota share, surplus share) and non proportional (excess of loss, catastrophe) treaty structures.
- Produce standardised renewal submission information packages containing exposure data, loss experience, underwriting information and risk profiles to assist Lead Buyers in managing the entire placement process through intermediaries and on a direct basis.
- Support the evaluation of prospective reinsurance arrangements by analysing portfolio risks, assessing coverage adequacy and reviewing terms and conditions to ensure optimal protection.
- Assist in the preparation and review of placing slips, contract wordings and reinsurance documentation in collaboration with in house Legal Counsel.
- Contribute to the evaluation of alternative capital solutions by conducting cost benefit analyses comparing traditional reinsurance with capital markets alternatives.
- Assist with the documentation and monitoring of ILS transactions, tracking collateral positions and performance metrics.
- Produce the required documentation for Lloyd's Regulatory Returns on a quarterly basis, including Syndicate Reinsurance Structure (SRS) submissions.
- Prepare reinsurance related data for Lloyd's Capital Requirements (LCR) submissions and SolvencyII/SolvencyUK reporting frameworks.
- Ensure accuracy and completeness of reinsurance data submissions, maintaining compliance with Lloyd's Market Bulletin requirements and regulatory timelines.
- Provide relevant information for the group's Committees and Board Meetings, including Capital & Risk Committee, Underwriting Committee and Audit Committee presentations.
- Maintain strong working relationships with reinsurance brokers and reinsurers, supporting the Lead Buyers in market engagement and negotiation activities.
- Serve as a central point of contact for all internal and external queries regarding the placement process.
- Coordinate with Processing teams to ensure the end to end placement to recovery process runs effectively with minimal hand offs.
- Monitor reinsurance security exposures and counterparty concentrations, escalating issues and recommending actions as appropriate.
- Participate in team projects on an ad hoc basis, including process improvement initiatives, system implementations and special analytical requests.
- Identify events that will impact financial results and alert the Lead Outwards Reinsurance team.
- Support quarterly account analysis and monitoring of reinsurance programme performance against expectations.
- Act as liaison for internal and external auditors on matters concerning the placement process and regulatory compliance.
What You'll Need Essential Experience & Knowledge
- Experience in the insurance sector in any capacity, preferably in underwriting, catastrophe modelling or broking.
- Solid understanding of reinsurance principles, including both proportional and non proportional structures across Property, Casualty and Specialty lines.
- Experience in data mapping, reviewing and data analysis for control, monitoring and decision making purposes.
- Understanding of the Lloyd's Market structure, regulatory framework and reporting requirements (or willingness to learn).
Technical Skills
- Proficiency in Microsoft Office, particularly advanced Excel skills such as pivot tables, data manipulation and financial modelling.
- Experience with or ability to use Microsoft Power BI for data visualization and dashboard creation.
- SQL knowledge or genuine interest in learning coding languages such as SQL, R or Python for data analysis and automation.
- Familiarity with insurance/reinsurance software systems and catastrophe modelling platforms (e.g., RMS, AIR) is advantageous.
Core Competencies
- Ability to work closely with senior stakeholders and third parties to understand and clarify business needs and translate these into optimal buying solutions.
- Strong analytical mindset, ability to interpret complex data, identify trends and present findings in a clear, actionable manner.
- Excellent organisational and time management skills, managing multiple priorities and meeting tight deadlines during peak renewal periods.
- High level of attention to detail and commitment to accuracy in all analytical and reporting outputs.
- Excellent written and verbal communication skills, with the ability to explain technical reinsurance concepts to non specialist audiences.
- Proactive approach to problem solving and continuous improvement, and a collaborative team player attitude.
Benefits
In addition to a competitive base salary and performance related discretionary bonus, employees enjoy a hybrid working model, flexible working arrangements, comprehensive employee benefits, and a culture that values diversity, equity and inclusion.
About MS Amlin
MS Amlin is a leading (re)insurer and part of the global MSAD Group, with operations across Lloyd's of London, the Middle East and Asia Pacific. With over 120 years of experience, we support businesses facing complex and demanding risks, delivering continuity in an uncertain world.