Lead Pricing Actuary

Job Title: Lead Pricing Actuary

Reporting to: Head of Pricing

Direct Reports: 1 Pricing Actuary and 2 Pricing Analysts

Employment Type: Permanent

Location: London (20 Fenchurch Street)

Help Us Insure it!

TMHCC are one of the world’s leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry.

Job Purpose:

Oversight of pricing team covering Marine, Energy and Property lines, written across TMHCC’s company and Lloyd’s syndicate platforms. Portfolio comprises approximately $1.3bn GWP with growth plans targeting renewable energy initiatives. The successful candidate will be working closely with underwriters to provide support in areas including, but not limited to, pricing model development, case pricing, modelling underwriting risk and budget analytics.

What you will be doing:

• Technical pricing models:
  • develop existing models and deliver new models as required
  • improve information available to underwriters at time of writing, enhance data capture for future reporting and analysis
  • integrate models into seamless underwriting process where possible and beneficial
  • support ongoing pricing transformation initiatives

• Case pricing:
  • modelling of large accounts and programmes to assist underwriting decisions

• Product development:
  • New products/innovation supporting the energy transition and other green initiatives

• Technical analysis and projections to support the annual budgeting process

• Technical analysis to support the outward reinsurance purchase process

• SME to the capital modelling team, assisting with the review of parameters relating to modelling of underwriting risk, including attritional/large losses and natural catastrophe exposures

• Assist with regulatory compliance in areas that impact pricing strategy, including:
  • Actuarial Function opinions on Underwriting Policy
  • Principles for Doing Business at Lloyd’s, in particular Pricing Maturity Matrix assessments

• Liaise with Finance, BI/IT, Catastrophe Exposure Management, Reinsurance and Compliance teams as required

What our expectations are of this role with the first 6 months:

• Successfully integrate with underwriting teams
• Contribute to improving underwriting performance, through one or more of the following:
  • improved technical/modelling input into underwriting decisions
  • more efficient processes and/or better reporting
  • growing the intellectual capital of the pricing team by setting up structured training to address gaps in specialised areas and systems for ongoing knowledge transfer

What you’ll bring to us:

Qualifications and Experience:

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Computer Science, STEM or related field.
• Qualified as a Fellow of the Institute and Faculty of Actuaries (FIA), Fellow of the Casualty Actuarial Society (FCAS) or similar.
• 10+ years general insurance actuarial experience, including a minimum of 5 years relevant pricing experience in London Market specialty classes.
• Strong preference given to candidates with Marine pricing background.
• Commercial awareness and knowledge of the industry, including regulatory frameworks and technical developments affecting the business environment in which TMHCC operates.

Key Skills:

• Strong interpersonal and stakeholder management abilities
• Excellent written and verbal communications skills (experience drafting formal reports/memos an advantage)
• Advanced MS Excel proficiency
• Proficiency with ReMetrica or similar stochastic modelling software an advantage
• Programming aptitude/experience (SQL, VBA, R, Python beneficial)

What We Offer

• Chance to join small innovative team and make an impact directly on the business.
• Opportunity to work across multiple lines of business with top quality underwriters and management.
• Flat reporting structure through Underwriting Performance, Chief Underwriting Officer and other executives.
• Encouraged to take initiative and see the value of implementing new ideas and projects.

The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful, dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals. The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit www.tmhcc.com for more information about our companies.

The Tokio Marine HCC Group of companies is an equal opportunity employer.  Please visit www.tmhcc.com for more information about our companies.

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