Job description
The Position:
Arch Insurance employs a disciplined underwriting approach and prudent risk selection across all types of business. Our mission is to provide our insureds with superb coverage and claims handling through careful and diligent underwriting of risks and business-friendly solutions. Across our global operations, Arch Insurance employees are ready to meet your needs with professionalism and excellence.
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Responsible for administering all aspects of reinsurance placement and analysis based on the guidance of SVP, Ceded Reinsurance.
Job Responsibilities:
- Effectively manage treaty renewal process
- Develop and articulate renewal strategy to be presented to ceded re leadership
- Work with brokers, business division(s), corporate underwriting and actuarial department to identify and gather information necessary for each reinsurance treaty submission
- Manage data collection process, testing and reconciliation of submission data
- Provide comprehensive analysis related to reinsurance purchase including but not limited to analysis of received quotes, quoting behavior, treaty structure, year on year changes in treaty cost, budget to actual treaty cost, contract wording, comparison of direct policy pricing vs. facultative pricing, etc.
- Provide recommendations for Firm Order Terms, participation allocations and reinsurance structure based on technical and strategic analysis of the reinsurance marketplace with considerations for pricing, diversification of credit risk and long term reinsurance purchase strategy
- Plan & coordinate both externally and internally virtual reinsurance underwriting audits in conjunction with treaty renewals
- Comprehensive knowledge of the reinsurance placement process, including its financial impact on the Corporation
- Demonstrated ability to manipulate and organize large data sets effectively in Excel
- Strong financial acumen
- Ability to communicate effectively and to think strategically
- Ability to interpret contracts and negotiate effectively
- Strong business writing skills
- 5 or more years of reinsurance/insurance industry experience with adequate exposure to underwriting and claims processes required. Direct reinsurance placement, underwriting or brokerage experience preferred.
- ARe, CPCU and AIAF designations preferred
- Bachelor's degree required
- Education & Experience: BS Degree - ideally with a major in Business, Economics, Finance, or Accounting.
- For individuals assigned or hired to work in New York City, the base salary range is $138,614.00/Yr. to $200,000.00/Yr. as of the time of posting. Position is incentive eligible.
- Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above range may be modified in the future
- Click here to learn more on available benefits
Arch Insurance is a global insurer offering our clients superior coverage and service. We embody the Arch guiding principle of focusing on retaining experienced and talented employees to differentiate us from the rest of the pack. Our group operates from offices in the US, Canada, Bermuda, UK, and Australia, providing specialty risk solutions to clients worldwide across a wide range of industries.
With nearly 20 years of operating history and strong financial ratings, our track record remains solid.
Arch Insurance employs a disciplined underwriting approach and prudent risk selection across all types of business. Our mission is to provide our insureds with superb coverage and claims handling through careful and diligent underwriting of risks and business-friendly solutions. Across our global operations, Arch Insurance employees are ready to meet your needs with professionalism and excellence.
#LI-AM3
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