Specialty Reinsurance Buyer, Ceded Re

Title:

Specialty Reinsurance Buyer, Ceded Re

Company:

Everest Advisors (UK), Ltd.

Job Category:

Underwriting

Job Description:

It’s an exciting time for Everest Re Group, Ltd. (“Everest”)! As we continue on our journey, we see significant opportunity ahead of us to expand our reach, build diversity, and enhance our capabilities in critical markets.

Everest is a leading global reinsurance and insurance provider, operating for over 50 years through subsidiaries in the Bermuda, Canada, Europe, Singapore, US, and other territories. Our strengths include extensive product and distribution capabilities, a strong balance sheet, and an innovative culture. Throughout our history, Everest has maintained its discipline and focuses on creating long-term value through underwriting excellence and strong risk and capital management. But the most critical asset in this organization is our people. 

At Everest, we are committed to the development of our people. We offer dynamic training & professional development to our employees. You will benefit from career development and learning opportunities that will let you set career goals and fulfill them, including:

•          Generous tuition/continuing education reimbursement

•          Mentoring opportunities

•          Flexible work arrangements

•          Talent development initiatives

•          Networking groups

Everest is a growth company with $17 Billion of Gross Written Premium offering Property, Casualty and specialty products among others, through its various operating subsidiaries located in key markets around the world. Everest has been a global leader in reinsurance with a broad footprint, deep client relationships, underwriting excellence, responsive service and customized solutions. Our insurance arm draws upon impressive global resources and financial strength to tailor each policy to meet the individual needs of our customers.

Our financial strength is evident in Financial Agency Ratings of: A+ A. M. Best, A+ S&P Global and A1 Moody’s Investor Service. We are a market leader for our broad diversified income streams, strong underlying underwriting performance with reduced volatility and strong cash flow. We take pride in being known in the industry as nimble, entrepreneurial and responsive.

This position will be based in our London office with a hybrid schedule that has the option of working two days remotely each week.

Team Overview:

Everest Ceded Reinsurance Group are the centralized reinsurance buying function for Everest Insurance. The team work in conjunction with the Insurance Leadership, the Underwriting Leadership and the Legal Entities to design, place and manage the external reinsurance arrangements for the Company.

Role Purpose:

This is an exciting opportunity to head up the Specialty reinsurance buying pillar for the Ceded Reinsurance department.

The primary purpose of this role is to lead the development and execution of the Ceded Reinsurance strategy for the Company’s Specialty lines and to support underwriting leadership and the wider underwriting community across Everest Insurance.

Key Accountabilities:

• In collaboration with the Chief Ceded Reinsurance Officer, lead the design, strategy and implementation of the Company’s Specialty reinsurance purchases
• Work with the insurance leadership and the Group Hedging Committee to recommend reinsurance structures for the Company’s Specialty Insurance lines
• Manage day-to-day reinsurer broker engagement for the Specialty placements throughout the pre-placement, placement, and post-placement process, including RFPs and broker feedback sessions
• Manage and foster key reinsurer relationships for the Specialty placements in conjunction with the wider Group’s reinsurer relationships
• Assist the financial planning and analytics department to derive the Ceded Plan during the annual planning process for the Specialty contracts
• Assist the Ceded Operations pillar with the contract setup of the Specialty placements to ensure all premiums are paid and claims collected on time
• Work with the Ceded Contracts team and the Underwriting leadership to ensure Everest required wording is on all contracts and strive for consistency in treaty wording across the Specialty placements
• In conjunction with the Ceded Reinsurance actuarial function, ensure all Specialty ceded reinsurance contracts have been modelled and parameterised in conjunction with the Group appetite
• Deliver best-in-class reinsurance outcomes for our insurance business

Professional Experience:

• Considerable experience within a ceded reinsurance department
• Knowledge and experience in the Specialty classes of business
• Experience in both the International and North America reinsurance market

Skills & Abilities:

• High degree of numeracy essential with strong analytic skills.
• Excellent interpersonal skills, including the ability to build consensus and conduct effective negotiations as well as a high degree of proficiency in communication – both oral and written
• Demonstrate an advanced knowledge of reinsurance fundamentals to include different forms and structures of treaty reinsurance, and fluency in Treaty Contract language

Our Culture 

At Everest, our purpose is to provide the world with protection. We help clients and businesses thrive, fuel global economies, and create sustainable value for our colleagues, shareholders and the communities that we serve. We also pride ourselves on having a unique and inclusive culture which is driven by a unified set of values and behaviours. Click here to learn more about our culture. 

  

• Our Values are the guiding principles that inform our decisions, actions and behaviours. They are an expression of our culture and an integral part of how we work: Talent. Thoughtful assumption of risk. Execution. Efficiency. Humility. Leadership. Collaboration. Diversity, Equity and Inclusion.  
• Our Colleague Behaviours define how we operate and interact with each other no matter our location, level or function: Respect everyone. Pursue better. Lead by example. Own our outcomes. Win together.  

  

All colleagues are held accountable to upholding and supporting our values and behaviours across the company. This includes day to day interactions with fellow colleagues, and the global communities we serve.  

Type:

Regular

Time Type:

Full time

Primary Location:

London

Additional Locations:

N/A