Property Treaty Underwriter

Shape Your Future With Us

General Re Corporation, a subsidiary of Berkshire Hathaway Inc., is a holding company for global reinsurance and related operations, with more than 2,000 employees worldwide. It owns General Reinsurance Corporation and General Reinsurance AG, which conducts business as Gen Re.

Gen Re delivers reinsurance solutions to the Life/Health and Property/Casualty insurance industries. Represented in all major reinsurance markets through a network of 38 offices, we have earned superior financial strength ratings from each of the major rating agencies.

Gen Re currently offers an excellent opportunity for Property Treaty Underwriter to work in our Stamford office. This is a hybrid role with 3 days in the office and 2 days remote.

Role Description

The Treaty Underwriter’s primary responsibility is to assess, underwrite, price and structure new and renewal treaty business consistent with General Re’s risk appetite and profit margin expectations. The person needs to be able to effectively explain his/her findings and positions to both internal stakeholders as well as external clients. This role will be primarily focused on treaties with property exposure.

 

Position Responsibilities:

 

Technical

·         Technical underwriting capabilities handling commercial and personal lines of business. Strong property background is required.  Technical capabilities include:

o   The ability to assess and analyze exposure to loss

o   Primary insurance policy form knowledge

o   Understanding of primary insurance rate making

·         Reinsurance knowledge encompassing either:

o   Treaty reinsurance background or

o   Facultative underwriting handling more complex risks or programs 

·         Understanding of treaty pricing tools and concepts

·         Insurance company financial statement knowledge and how financials relate to reinsurance purchasing decision

 

Property-Specific Technical Requirements

·         Hands-on experience assessing and pricing per-risk property business, including personal, commercial, and industrial risks, with the ability to assess large risks and attritional loss exposure.

·         Strong command of per-risk technical analysis, including risk profile analysis and evaluation of construction, occupancy, and protection.

·         Knowledge of natural catastrophe exposure across key perils, including named windstorm / hurricane, earthquake, severe convective storm, wildfire, flood, and winter storms.

·         Experience with various treaty structures, including per-risk and catastrophe excess-of-loss, working and clash layers, quota share, and surplus treaties

·         Command of property-specific treaty terms such as occurrence definitions, hours clauses, reinstatements and reinstatement premiums, event limits, and inuring reinsurance

·         Property pricing methods, including exposure rating and experience rating, and blending catastrophe model output with underwriting judgment

Marketing and Business Development

·         Understanding of insurance marketplace and company reinsurance buying motivations

·         Participation in opportunity generations and pre-qualification process

·         Work with client teams to build business opportunities, explain reinsurance structures and pricing, and articulate value of General Re in buying decisions

·         Play an advisory role to clients by sharing underwriting expertise

 

Operational and Leadership

·         Effectively communicate positions, look at alternatives and wor