If you’re interested in applying your reserving knowledge within one of the largest insurers in the world, with a global footprint in 54 countries and excellent employee benefits then we would love to hear from you!
You will be a member of the Chubb Global Markets (CGM) reserving function, consisting of six people. The team have responsibility for reserving across all classes of London Market business written by the Chubb Syndicate and London Market company; including Aviation, Energy, Political Risks, Marine, Financial Lines, International Casualty, Environmental Liability, Tech Risks and Property.
This role will involve undertaking quarterly reserving analyses and deep dives with a focus on specific lines of business for which you will have primary responsibility. There will be a need for regular communication with all business partners in the reserving process, including Underwriting, Claims, Pricing and Finance, as well as communicating the results of your analysis to Senior Management. Developing and managing relationships with these business partners is a key requirement for the role.
This role will also provide support to the Solvency II Technical Provision and other reporting processes, including quarterly and annual Solvency reporting to Lloyd’s, Reserve Risk, external actuarial reviews and other regulatory and internal reporting relating to the reserves and capital.
While reserving is the primary purpose of the role, there will be regular opportunities to work with actuarial colleagues in the Pricing, Planning and Capital Modelling teams.
Key responsibilities:
Reserving
Support the quarterly reviews of reserves on specified lines of business, generally for the purposes of US GAAP reporting. This process includes the calculation of an actuarial central estimate and the incorporation of management’s best estimate. Support the communication of reserve review results, including presentation to Underwriting, Executive Management, Group Actuarial and Finance. Perform and present the results of ad-hoc portfolio analyses, as required.Proactively support the development and management of reserving databases, applications and systems.Support the Solvency II Technical Provisions quarterly calculation process, including analysis of change investigations and presentation of results to executive management.Possibility to support the annual reserve risk parameterisation process including analysing model results and liaising closely with internal (e.g. Capital team) and external (e.g. Auditors) business partners.Planning/Pricing
Support the bi-annual loss ratio planning processes, in particular to ensure that the outputs and insight from the reserving process are appropriately reflected in planning exercises and in turn that the outputs from the planning exercises are accurately captured and reflected in the reserving process.Reporting
Support the reserving team’s management and statutory reporting requirements with the relevant authorities e.g. PRA, Lloyd’s, ACPR.Support external consultants’ and auditors’ independent analyses of reserve adequacy and reserving methods.Other
Support the development of the existing relationship with the dedicated offshore team.Be recognised as a problem solver and a successful communicator to non-actuarial colleagues.Key skills & requirements:
Qualified / nearly qualified actuary, or equivalent experience Several years’ reserving experience, ideally within the London Market, with knowledge of a range of reserving methodology and lines of business.High integrity and work ethic, team oriented and able to support more junior members of the team.We offer in return:
Competitive salary, bonus & pension scheme25 days annual leave plus ability to purchase 5 additional daysUp to two days of work from home per weekPrivate Medical cover, Employee Share Purchase Plan, Life AssuranceFitness/Health subsidy, Comprehensive Learning & development offeringEmployee resource groups: Gender Equality Network, Abilities & Wellbeing, Social Mobility, Parents & Carers, Pride Network, Cultural Awareness Network.Networking, mentoring & development opportunities.Annual Charitable leave, Cycle to work scheme, active Sports & social committee, Employee Assistance program
Integrity. Client focus. Respect. Excellence. Teamwork
Our core values dictate how we live and work. We’re an ethical and honest company that’s wholly committed to its clients. A business that’s engaged in mutual trust and respect for its employees and partners. A place where colleagues perform at the highest levels. And a working environment that’s collaborative and supportive.
Diversity & Inclusion. At Chubb, we consider our people our chief competitive advantage and as such we treat colleagues, candidates, clients, and business partners with equality, fairness and respect, regardless of their age, disability, race, religion or belief, gender, sexual orientation, marital status or family circumstances.
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