Junior Underwriter Construction Cedent Facultative Reinsurance Europe

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.