Reinsurance Underwriter - Casualty US Treaty

UFG is looking for an Assumed Reinsurance Underwriter who will underwrite and manage casualty US Treaty business in our Assumed Reinsurance portfolio and will work closely with colleagues and leadership in risk, strategy, claims and finance to develop and implement our business plan for their assigned channel.  The person will be part of an underwriting team that is rewarded in part based on actual financial performance.

The Underwriter will also support the assumed reinsurance department overall, potentially assisting with the underwriting of business outside their assigned channel.  This person will play an important role in growing UFG’s risk profile and positioning the portfolio to consistently deliver industry-leading profitability.  Contributes to the business unit’s success with significant visibility among senior stakeholders in the organization.

The ideal candidate will have experience with casualty US treaty business and knowledge of medical malpractice reinsurance market is a plus.

Responsibilities:

• Lead the underwriting process for individual treaty submissions. Following our general process for underwriting reinsurance treaties, this person will lead the analysis and due diligence and will be a key contributor to growing the treaty portfolio.
• Support other reinsurance business. This person will support the sourcing, underwriting, and execution of assumed reinsurance business through other channels, including retro treaty, MGA/MGU business, financial lines reinsurance, and Funds at Lloyd’s (FAL) investments.
• Assist in the financial accounting for the reinsurance book. This person will work with the accounting department to properly account for reinsurance treaties in our financial statements.
• Assist in the strategic plan for growing the reinsurance book.  This person will support the annual planning process for growing the overall reinsurance book with specific focus on the P&C treaty channel.  

Qualifications:

Education:

• Bachelor’s degree in Mathematics, Finance, Economics, Statistics, or related field.
• Graduate degree in related field is preferred.

Certifications/Designations:

• Employees are expected to participate in continuing education throughout their careers.

• Relevant designations in any of the following is preferred:
• Associate in Reinsurance (ARe),
• Associate in Risk Management (ARM),
• Chartered Property Casualty Underwriter (CPCU), and
• Associate or Fellow of the Casualty Actuarial Society (ACAS or FCAS). 

Experience:

• Casualty US treaty reinsurance underwriting experience a strong plus
• 10 years of relevant experience, to include in part:
  • Submission analysis and screening.
  • Treaty underwriting.
  • Reinsurance accounting principles.
  • Maintaining reinsurance broker relationships.
  • Managing General Agency (MGA) business models.
  • Commercial lines insurance.
  • Other P&C and financial lines of business.
• Experience in communicating underwriting analysis to various groups including non-technical and executive audiences.

Knowledge, skills & abilities:

• Strong subject matter exposure and leadership potential.
• Understands the principals of portfolio management and how to make a positive financial impact through diversification, materiality, profitability, and relationships.
  • Knowledge and understanding of insurance industry products, services, and business practices.
  • Knowledge and understanding of the challenges faced in the P&C insurance business.
• Exemplary personal traits including:
  • Self-motivated, collaborative, creative, and diligent.
  • Strong written and oral communication skills.
  • Ability to speak publicly and build the UFG brand.

Working Conditions:

• General office environment with travel to industry events, reinsurance audits and broker visits. Occasional overseas travel.
• Remote (USA) or Cedar Rapids office.

Disclaimer:

The above statements are intended to describe the general nature and level of work being performed by individuals assigned to this job. It is not designed to contain or be interpreted as a comprehensive list of all duties, responsibilities, and skills required. Additional tasks and requirements may be assigned, as necessitated by business need. UFG retains the right to modify the description of this job at any time