Senior Underwriting Specialist (Reinsurance)Underwriting/Reinsurance Job ID 2023-13679 Primary Location: Johnston, Rhode Island 01/30/2024 Hiring Range: $126,800 - $182,300
FM Global is a leading property insurer of the world's largest businesses, providing more than one-third of FORTUNE 1000-size companies with engineering-based risk management and property insurance solutions. FM Global helps clients maintain continuity in their business operations by drawing upon state-of-the-art loss-prevention engineering and research; risk management skills and support services; tailored risk transfer capabilities; and superior financial strength. To do so, we rely on a dynamic, culturally diverse group of employees, working in over 100 countries, in many challenging roles.
Candidate will support the development of the organization’s optimal reinsurance solutions as we evolve and embark on new strategic underwriting growth initiatives and opportunities. This will require the consideration of both traditional and alternative reinsurance structures, traditional and alternative reinsurers like insurance-lined securities, investors, and our own capital/surplus when recommending the optimal solution.
- Financial background capable of preparing budget projections for all ceded re costs each year and managing collateralization requirements, including commutation, rollover and strategic deployment of capital.
- Excel-based modeling for strategic uses of capital
- Firm understanding of FM Global’s business model and line underwriting.
- Proficient in reinsurance products, with an understanding of market trends and practices that could help optimize the organizations reinsurance strategy
- Lead the development of new reinsurance products and the day-to-day maintenance of those created reinsurance products.
- Experience in developing and reviewing contractual language, terms and conditions of reinsurance contracts
- Participate in underwriting audits performed in Operations offices, as well conduct periodic audits of specific reinsurance areas of the Company's book
- Represent Natural Hazards UW, where a light touch/assistance is necessary
- Minimum Education: 4 year college degree/bachelors
- Preferred Education: MBA/graduate degree
- Experience: 10 years in insurance/reinsurance whether from a financial or underwriting discipline
The hiring range for this position dependent on final grade and title is $126,800 to $182,300 USD. The final salary offer will vary based on geographic location, individual education, skills, and experience. The position is eligible to participate in FM Global’s comprehensive Total Rewards program that includes an incentive plan, generous health and well-being programs, a 401(k) and pension plan, career development opportunities, tuition reimbursement, flexible work, time off allowances and much more.
FM Global is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.
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