Junior Underwriter Construction Cedent Facultative EuropeSCOR

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.

You have made your first steps (>=2 years) into the (re)insurance industry and have an Engineering / Construction background or have worked in other technical friendly areas?
If you are an organized and motivated person that enjoys working in a fast-paced environment, negotiating face to face with brokers and keeping good track of your decisions, we would like to welcome you to the Scor way of underwriting, where the Science and Art of risk become evident.
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
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.
Required language:
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.