Chief Underwriting Officer

  • 35240
  • Non-Life - Underwriting
  • |
  • Bermuda
  • |
  • May 23, 2019
Reinsurance
RESPONSIBILITIES
  • To establish and ensure adherence to company’s risk appetite standards and guidelines for maintaining pricing adequacy of portfolio acquisitions, and within those guidelines actively defining underwriting strategies and recommending business plans that will generate continued profitable business growth in current and future markets.
  • To convey to company stakeholders a clear understanding of the company’s underwriting methodology and risks it assumes; to impart among company staff a robust knowledge base of relevant underwriting matters affecting them, with a view to the development and maintenance of a comprehensive underwriting manual or guide that presents the company’s underwriting appetite, standards, policies, and requirements.
  • Supporting risk and audit functions in developing and maintaining underwriting audit processes and controls to verify compliance with underwriting authorities, established guidelines, standards, and procedures.
  • To liaise with Finance, Capital Modeling, Actuarial, Risk, Legal, Claims Administration, and Operations regarding deal development, deal structuring, deal pricing, and operational demands of deal onboarding and portfolio management; to liaise with auditors regarding corporate compliance and underwriting requirements.
  • To produce strategic, operational, and budget planning, and to perform periodic written evaluations of direct reports and staff, including development plans, corrective action plans, and disciplinary action when required.
QUALIFICATIONS
  • At least 15 years of insurance leadership experience, including oversight over multiple products and geographies as well as staff management experience with strategic orientation.
  • At least 10-15 years of insurance underwriting or insurance broking experience, with in-depth knowledge of casualty and professional lines - United States, United Kingdom, and Continental Europe.
  • Proven history of business development; demonstrated ability to develop market relationships leading to business growth.
  • History of cultivating strong personal and professional relationships with industry clients and brokers
  • Proven ability to retain high-talent and entrepreneurial-minded staff.
  • Ability to develop company talent for succession and contingency planning.
  • Ability to become conversant with multiple areas of the company and across multiple geographies; to establish strong relationships with relevant stakeholders and engender shared understanding of the company’s business model in the applicable particularities of its overall parameters and goals.
  • Demonstrated ability to work and achieve goals within narrow timeframes and subject to resource constraints.
  • Retroactive reinsurance underwriting background with advanced knowledge of long-tail casualty lines; at least 10 years of experience underwriting business within underwriting authority through that include consideration of loss mitigation through strict adherence to policy forms, active claims handling, and monetization of reinsurance assets.
  • Incisive understanding of own and potential cedent’s regulatory environments, especially Solvency II, Solvency II equivalence, and NAIC.