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
We are seeking a Pricing Actuary to join our Specialty lines team. Our ideal candidate would work closely with class underwriters to develop risk-based models capable of analysing a variety of different coverages and deal structures. The role requires a strong understanding of Specialty classes, the ability to analyse extensive data, and proficiency in developing customised deterministic and stochastic models.
The Specialty pricing function supports the technical pricing of Marine, Aviation, Aerospace, and Contingency with plans to expand into new business classes in the future. Specialty lines are a key strategic area for Fidelis – so the role provides strong career progression opportunity.
Key accountabilities
Developing and delivering pricing tools and models to underwriting teams for new and existing products.
Perform portfolio analysis, generate KPIs and identify areas of portfolio improvement to increase profitability whilst meeting client needs.
Building and maintaining effective working relationships with the underwriting, outwards reinsurance, contract wordings, exposure management and risk teams.
Working with underwriters to deliver on Fidelis’ strategy, managing underwriting results by monitoring experience vs plan and delivering pricing recommendations in case pricing and regular business performance reviews.
Prepare presentations for stakeholders, including senior management, capacity / reinsurance partners and investors.
Working with exposure management and risk teams to monitor potential exposure aggregation to natural catastrophe, man-made systemic event and war risk
Facilitate horizon scanning across the pricing team – ensure we have a line of sight on all issues which may impact the portfolio and profitability.
Case pricing large deals and recommending underwriting actions or changes.
Skills & experience
Nearly / newly qualified actuary with up to five years’ post-qualification experience.
Minimum of 5 years of experience in a London Market or reinsurance pricing discipline.
Qualification or demonstrated strong historical track record of actuarial exam progress and development of wider business knowledge and experience.
High levels of awareness of all commercial insurance and reinsurance classes of business, market conditions, performance indicators, and technical valuation techniques.
Highly results driven, with energy and drive to succeed in very fast-paced environment where flexibility and response times are crucial.
Advanced user of Microsoft Excel, including stochastic modelling in Excel or in another tool.
Experience of using SQL, Python, and R for data handling and modelling / analysis are a key advantage.
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
Diversity & Inclusion in the workplace
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.
