time type Full time
job requisition id R4594
Title: 2024 Reinsurance Graduate Rotational Associate Program – London
Job Category: Underwriting
Are you interested in a career in underwriting? Perhaps you wish to become an Actuary, or you have an interest in the law and claims? Join Everest’s 2024 two-year London Graduate Reinsurance scheme, just a stone’s throw from the iconic Lloyd’s of London building on Lime Street, in the heart of the city. This is a fantastic opportunity for smart, intuitive, inquisitive minds to join a leading global financial organisation that is genuinely passionate about the development of our entry level employees and future leaders. We pride ourselves on nurturing talent and kick-starting lifelong careers in a professional, exciting, and long-standing industry.
For 50 years, Everest has been a global leader in reinsurance with a broad, international footprint and deep, long-term, profitable client relationships. We have a reputation for underwriting excellence, and we focus on delivering responsive client service and customized solutions. We are ranked in the Top Ten Reinsurers worldwide! This is a huge financial services and risk management industry and Everest Re is a key player here in London, which is the epicentre of the global insurance and reinsurance marketplace.
Our opportunity provides a leading London training programme with hands-on learning. You will work alongside some of the best reinsurance professionals in the market within underwriting, actuarial, data analysis and claims. In addition to the support provided to gain an Actuarial or Chartered Insurance Institute designations, we provide the tools to enable you to thrive in our Programme, and ultimately your permanent position.
So, what is reinsurance?
Essentially, it’s the insurance of insurance. Our clients are insurance companies who need additional protection for the risks they assume. But this additional protection is not for the standard car, home, and pet coverage you might think of when you hear the word ‘insurance’. Here at Everest, we reinsure special, high- value or high-risk businesses and industries across different classes of insurance such as Aviation, Property, Engineering, Public and Employers’ Liability, Professional Indemnity, Medical Malpractice, Accident & Health, Contingency and Cyber…
The ”risks” our clients might reinsure could range from Messi’s left foot, a rocket launch, the Ed Sheeran Tour, a petrochemical refinery, or a thousand residential properties on the coast of Florida.
When the worst happens, a policyholder is reliant on their Insurer to help them recover and move forward. But what happens when a hurricane hits the USA, a major music festival is cancelled because of Covid, or a CEO’s ill-timed tweet plunges a company’s share price? Thematic events like this can result in huge losses for Insurers and that is where reinsurance comes in. Reinsurers like Everest Re not only pay claims at the time of loss; more importantly, we provide business continuity.
What is the Job Opportunity?
The job of the reinsurance underwriter is to assess and select risks. The underwriter’s role is both technical and commercial as the underwriter must determine how much risk to assume and at what cost, what are best terms and conditions of coverage, as well as negotiate and sell the deal to our broker clients. When reinsurers underwrite individual risks, it’s called “facultative” reinsurance.
The actuaries are crucial in helping us achieve a profitable portfolio through analyse of numerical data and trends and determining appropriate risk-adjusted prices. Actuaries also work to determine how much we should “reserve” for current and future losses.
Our claims executives evaluate claims to determine if coverage applies and what the final indemnity should be to adequately compensate for the loss, which is the ultimate purpose of insurance and reinsurance.
Our Graduate opportunity is a rotation programme across 4 different teams covering a variety of classes of reinsurance business. You will have the opportunity to rotate through the facultative underwriting team, work in the actuarial team looking at reserving, and in claims you will have the opportunity to be on the front-end, supporting our clients. In addition, you will rotate through the management information team performing data analysis responsibilities.
Depending on the rotation, responsibilities could include:
Beyond your day-to-day activities we will encourage you to network within the Insurance community and to support others through our Diversity Equity and Inclusion initiatives, Mentoring Programs and Charity Outreach Programs.
What are we looking for?
The position is open to graduates that are hoping to build a career with a globally recognised brand name reinsurer, located in the world’s leading marketplace for Re/Insurance. We are looking for graduates who are curious and eager to learn! You will be a strong communicator, have excellent numerical and analytical skills, and enjoy building relationships and collaborating with others.
Time Type: Full time
Primary Location: London
Everest Group, Ltd. (“Everest”) is a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions that address customers’ most pressing challenges. Known for a 50-year track record of disciplined underwriting, capital and risk management, Everest, through its global operating affiliates, is committed to underwriting opportunity for colleagues, customers, shareholders, and communities worldwide. Everest is in over 100 countries across 6 continents. We provide the world with protection, we underwrite more than risk, we underwrite opportunity.
Everest Group, Ltd. is listed on the New York Stock Exchange (NYSE: EG) and is a component of the S&P 500 index.
FINANCIAL STRENGTH RATINGS
A+ by A.M. Best
A+ by S&P
A1 by Moody’s