SCOR has created a new P&C Facultative Division, with four regional teams: North America, Latam, APAC and Europe, to further our success in this market. Whilst Facultative underwriting is not new to us, our focused approach will help secure our position as a respected market player. Selecting the best risks, diversifying exposures and balancing conditions for the line of business, in collaboration with the wider Insurance and Reinsurance teams is where this role begins.
You will become part of SCORs Engineering practice, offering reinsurance support for European + UK clients. Lines of business within scope are CAR,EAR, MB, EEI, DSU and CECR; but if you like you can also expand to other property and Casualty areas, like SPPI. Either way, this will be the possibility to sharpen your underwriting skills and develop relationships with clients and internal stakeholders alike, becoming a well known partner for all.
You will report to the Head of Cedant Facultative Europe (based in London) and work closely with other Engineering/Property underwriters within the team and the broader network.
You play a key role in evaluating risks, checking wordings and preparing offers, and will support the achievement of the objectives within our yearly Plan.
Long term profitability is the measure of the underwriting team success within the region, so also long-term strategizing and portfolio management will be required from you.
Key duties and responsibilities
Strategic Client Engagement – Support the development & delivery of the regional facultative ceding strategy across your line of business through the origination of placements in line with capacity and risk appetite
Team Collaboration – Create strong, collaborative relationships with internal Reinsurance & Insurance partners, to drive the creation of profitable business, and ensuring SCOR is represented in an aligned manner to our clients
Market Negotiation - Negotiate terms, pricing and conditions to secure and provide the best possible facultative reinsurance solutions, managing and prioritising facultative submissions
Portfolio Optimisation - Manage and renew an existing portfolio of facultative deals currently in place, assessing placements against our risk profile to identify exposures
Analytics Discovery - Collaborate with analytics and risk modelling teams to determine optional facultative reinsurance needs based on exposure and loss scenarios; use and propose improvements for our pricing tools.
Client Management - Maintain relationships with clients and brokers, showcasing our position in the market, and additional value provided through our expertise. Participate occasionally as speaker in relevant market events.
Operational Excellence - Contribute to our high operational standards, including all underwriting activities but also reporting, reserving and claims settlements in conjunction with the relevant teams.
Compliance - Ensure facultative placements meeting internal governance, compliance and regulatory requirements, firmly within our Internal Control Systems process and Guidelines within the region
New Market Ideation – Stay informed on market developments, pricing shifts, and capacity changes, using this market intelligence to optimise facultative products, timing and structure.
Required experience & competencies
Industry experience in facultative underwriting / placements in an international environment
Comprehensive technical knowledge of subjects associated to facultative underwriting (e.g. wordings, assessment of new technologies and emerging risks); as well as a wider awareness of related actuary, accounting, legal, & regulatory topics.
Excellent interpersonal and organisational skills, also in virtual settings.
Ability to travel
Openness to learn and use new tools, also augmented by AI. Innovations in these areas are constant.
Personal competencies
Decision maker – Able to build underwriting decisions and relationships around the markets’ cyclical nature; able to flex mindset around underwriting strategy, capacity management, portfolio management and long-term partnerships to achieve successful and profitable underwriting decisions. Engineering is a mid- to long tail business, so you will need to think ahead and anticipate problems.
Commercial Business Acumen - The ability to negotiate profitable business with a structure that works for both client and SCOR. Be the “closer” that leaves the client happy with the service provided, whilst maintaining correct internal risk and portfolio management. Be able to assess and balance the commercial and technical aspects of this line of business, to create a sustainable and resilient book of business.
Critical Thinking - Assess complex risks without overengineering things; analysing market trends with a keen eye; making data-driven underwriting decisions while maintaining the process simple and efficient as possible.
Entrepreneurial Spirit - Identifying new market opportunities, developing innovative products and adapting to emerging risks. You will also be part of the team representing the Company in relevant Engineering communities as LEG and IMIA.
Solution Mindset - The ability to view a client problem and provide a range of solutions that could improve their situation. Able to cross-sell when another SCOR proposition would best suit requirements. Be seen as a true advisor to the client; a go to provider internally and externally.
Intellectual Curiosity (Continuous Learning) - Have the genuine desire to learn, understand and explore new ideas, concepts and perspectives, and produce credible industry collateral to positive SCOR.
Cultural Awareness - Understanding diverse market dynamics, regulatory environments, and client needs across different regions to build strong global relationships
Cross-Functional Collaboration - Collaborate across departments to develop comprehensive and innovative risk solutions and tools.
Stakeholder Management - Clearly able to explain risk decisions and understanding client needs; reflecting these is productive discussions to progress business relationships.
Required languages:
Business English (Level 4) plus at least one other language* (depending on location) at high level (4 or better). Additional language(s) (level 3 or better) desirable.
As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk,” SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide.
Working at SCOR means engaging with some of the best minds in the industry – actuaries, data scientists, underwriters, risk modelers, engineers, and many others – as we work together to find solutions to pressing challenges facing societies.
As an international company, our common culture is defined by “The SCOR Way.” Serving both to build momentum that drives the Group forward and as a compass to guide our actions and choices, The SCOR Way is anchored by five core values, reflecting the input of employees at all levels of the Group. We care about clients, people, and societies. We perform with integrity. We act with courage. We encourage open minds. And we thrive through collaboration.
SCOR supports inclusion and the diversity of talents, and all positions are open to people with disabilities.
