The Fidelis Partnership is a leading privately-owned, Bermuda-based Managing General Underwriter, which, through its subsidiaries, is a global underwriter of property, bespoke and specialty insurance and reinsurance products. The Fidelis Partnership is one of the largest Managing General Underwriters globally and its operations also include outwards reinsurance, claims handling, exposure management and portfolio analytics. The Fidelis Partnership also sponsors and incubates specialist MGAs through its Pine Walk platform. The Fidelis Partnership is separately owned and managed from the ownership and management of Fidelis Insurance Group.
Across product lines and geographies, we focus on three diversified pillars: reinsurance, specialty and bespoke solutions. We are truly diversified. Our long-standing partnerships with capital providers and quota share partners make us nimble. Our breadth of expertise and capabilities deliver outstanding market returns.
The role
The Group is expanding its Group Actuarial function and pricing team to support the underwriting side of the business and further develop its modelling and analytical capabilities to drive greater insight and data-driven decision making. The Team works closely with the Group’s Senior Management in making strategic decisions, as well as providing advice around technical pricing, profitability analysis, portfolio management and development, business planning, appraising new opportunities, outwards reinsurance purchasing and capital efficiency.
The Partnerships Pricing function supports the underwriting of portfolios through our in-house Pine Walk MGAs and external delegated authority relationships. We utilise the expertise of Fidelis Partnership’s product line pricing and catastrophe modelling teams and provide strategic support and data-driven analytical insights and help to manage key underwriting relationships. The Partnerships business is truly multi-line, writing insurance and reinsurance business across a number of property and specialty classes, niche and esoteric risks, and to both large commercial organisations through to SMEs. The actuarial team supporting the Partnerships business is currently led by an experienced general insurance reserving and pricing actuary with 24 years’ experience. They are supported by a senior nearly qualified actuarial analyst. We are targeting an additional two hires for the team to bring us up to four people - a qualified actuary (this role) and a junior actuarial or business analyst
Key accountabilities
Management of a number of our Pine Walk MGU underwriting cells – including analysis of key underwriting KPIs and presentations at monthly / quarterly performance meetings
Reviewing new MGA business opportunities and assessing price adequacy and profitability of existing business portfolio analysis and review to ensure that coverholders are writing business in accordance with agreed risk appetites and underwriting mandates; profiling key business features and exposures within each risk portfolio; assessing current and historical profitability and making recommendations for future improvements (whilst continuing to meet the needs of our clients)
Working with Fidelis’ product line case pricing and modelling teams in property, specialty and reinsurance
Leading the modelling, analysis and strategic input into outwards reinsurance purchasing decisions for business written across the Pine Walk MGU cells and other MGA / delegated relationships
Analysing outwards reinsurance efficacy, prospective alternatives and pricing – working alongside capital modelling actuarial team to assess capital and risk profile implications
Preparing presentations for internal and external stakeholders - including senior management, reinsurance partners and investors
Improving our data quality and infrastructure and building tools to better visualise and interrogate information to understand our policy exposures and drivers of claims experience.
Business planning
Supporting with ad-hoc projects to assist current and future business needs
Skills & experience
Nearly or newly qualified actuary
Minimum of four years’ experience in a London Market or commercial insurance reserving or pricing role
Demonstrated strong progress in actuarial exams.
Advanced user of Microsoft Excel
Experience of using SQL, Python and R programming tools for data handling and modelling / analysis a key advantage
Attention to detail with ability to translate the results of analytical work into opinion and clear recommendations.
Innovative thinking and ability to see the bigger picture of both technical and commercial elements.
Can combine technical analysis with judgment to provide insights and recommendations for commercial decision-makers.
Self-starter, proactive and quick learner
Strong work ethic, delivery focussed, and solution orientated.
Effective communication and engagement abilities with experience of working directly with underwriters or brokers.
Ability to prioritise, work to tight deadlines, and do what is needed to drive out the principal issues and make smart decisions.
Appropriately communicate analytical limitations and constructively work with stakeholders to find ways to improve data provision and refine analysis
Other
The Fidelis Partnership Ethos
At The Fidelis Partnership, we aim to be different while making a difference.
We set the standard for quality in our industry. Guided by our expertise, our clients can take unique and material risks with confidence.
Our approach is tailored and designed to deliver excellence for our clients. We are trailblazers, creating unique solutions in the (re)insurance space.
We are experts. Our brokers and clients value the depth of our knowledge and experience. We leverage state-of-the-art underwriting technology to be a market leader.
We believe sound ethics make for good business. We deliver value for our customers, investors and communities while actively avoid trading with industries that cause harm to people, the environment and animals.
We pride ourselves in creating a workplace that prizes execution, meritocracy, Diversity & Inclusion. Our people herald from countless backgrounds and are united by ambition and the unabashed desire to deliver excellence every day. We provide a competitive environment that helps people cultivate themselves professionally and personally and balance a rigorous workplace with a mindset that prioritises environmental and charitable activities in our communities worldwide.
Our ethos dictates our decisions and actions. It unites us as a team of experts and colleagues and provides us with a compass for ensuring we deliver our best to every stakeholder we serve.
Diversity, Equity & Inclusion
Insofar as possible, we aim to ensure the composition of our workforce reflects the make-up of the local community
We have specific programmes in all our offices to support diversity within the hiring process, e.g. internship and scholarship award programmes
This is a particular focus in Bermuda, where we engage actively with local organisations to source diverse talent and provide coaching/mentoring for underrepresented groups
We aim to maintain a focus on equal opportunities across all stages of hiring process
We measure and minimise the pay gap where possible.
Bring Your Whole Self to Work
Our vision is for a workplace culture where differences are valued and where diversity of background, experience and thought are welcomed. We want to create an environment where all employees, regardless of who they are, are given equal opportunities for career progression and enjoy fair reward from their and The Fidelis Partnership's successes. This will be driven by a workforce that embraces Diversity & Inclusion at every level, in every department across The Fidelis Partnership.
To ensure that all candidates have a fair opportunity to show their abilities during the recruitment process, adjustments may be required. If your physical or mental health or disability may necessitate an adjustment, please contact fidelis@avenciaconsulting.com to discuss. All information relating to your health or disability will be treated in accordance with our data protection policy.
