Actuarial Analyst

Job Type:

Permanent

Build a brilliant future with Hiscox
 

Reserving Analyst – London Market (Non-Property)

London based – Hybrid working

Hiscox writes business globally, operating Syndicates at Lloyd’s, Bermudian reinsurance & ILS carriers, and commercial and retail carriers in the UK, US and Europe. Group Actuarial is a centralised team responsible for all reserving and actuarial function activities across Hiscox’s legal entities and business units.

It is an exciting time for the Hiscox Reserving team as the delivery of new reserving tools and processes progresses to transform our capabilities to support our partnering with the business to achieve the 2030 Group Strategy. We are on a continuous journey to ensure we are the leading Actuarial Function in the market.

With many future areas of growth anticipated, coupled with the role actuaries increasingly have in the wider business, the Reserving team offers wider long term career opportunities as we continue to grow in influence.

The role

You will work as part of a Reserving Actuary‑led team supporting London Market Non‑Property business, including Casualty, Marine, Energy and Specialty, Crisis Management and Run‑off classes. The role supports reserving activity for Hiscox Syndicates and relevant non‑syndicate entities under Hiscox Syndicates Limited.

You will contribute to the quarterly reserving cycle on multiple bases, including GAAP, IFRS 17 and Solvency UK, helping inform business performance and meet regulatory and statutory reporting requirements.

You will be responsible for working as part of the team undertaking a quarterly cycle of reserve assessment in order to inform business performance and satisfy regulatory and statutory requirements. The work with Lloyd’s could include Lloyd’s Principles assessment, production of Solvency UK technical provisions and Actuarial Function reports, Lloyd’s requests and queries on reserving matters and working with the HSL Finance and Capital teams on Lloyd’s regular reporting deliverables. In addition you will be involved in other work across the year which for example would include business planning, reserving deep dives, and reserve risk assessment.

The role provides strong exposure to London Market reserving and the opportunity to develop technical reserving, communication and stakeholder‑management skills. Our business is described in terms of business units and insurance carriers, this role services London Market written on Syndicate 33, excluding commercial property and portfolio solutions. In scope are the Syndicate S33 divisions of Casualty, Marine and Energy, Crisis Management and Run-off. In addition, it will service business written on our Guernsey Carrier (HIG, Hiscox Insurance Guernsey) and also some legacy business within scope of this role relating to our Syndicate S3624. The syndicates are managed under Hiscox Syndicates Limited (HSL). This role takes a primary role in working with the London Market business unit.

This is a delivery‑focused role with increasing responsibility over time, including involvement in transformation initiatives to improve reserving data, processes, tools and reporting. Process improvement is an expectation of the role holder as part of a continuous improvement cycle aiming for delivery of insight with accuracy and efficiency.

Responsibilities

• Working with colleagues to deliver of quarterly review of reserves across GAAP, IFRS 17 and Solvency UK bases.
• Develop detailed reserving knowledge and understand how to apply methodologies and exercise judgement.
• With colleagues, communicate with key stakeholders across the business the results of the above analysis, seeking to provide new insights and add-value.
• Assist with delivery of regular reserving reporting, including analysis required for Lloyd’s and statutory submissions.
• Support interactions with auditors, regulators and external service providers as required, including liaising with the external actuaries (e.g. Auditors and/or SAO providers).
• Support the ongoing development and enhancement of actuarial methods, tools and documentation applied in reserving analyses and monitoring of loss trends.
• Proactively contribute to process improvements to improve efficiency, accuracy and control within the reserving cycle.
• Undertake ad-hoc analysis to support business planning deep dives and management requests.
• Contribute to the growth of intellectual capital within the actuarial department through attendance and participation in professional development initiatives and events, as well as sharing of specialized expertise with other members of the team.

Requirements

A person in this position should meet the following requirements:

• Minimum 2:1 degree (numerate subject).
• 1-2yrs (as a rough guide only) Actuarial experience in General Insurance
• Must be studying towards Actuarial qualifications. Hiscox offer a competitive study support and reward package, including paid study leave, to support those sitting the Actuarial examinations. However you must be prepared to commit personal time to study for the exams over and above this support.
• Strong Microsoft Excel skills; experience with VBA, SQL, Python, Tableau, Power BI or actuarial reserving tools is an advantage.

About Hiscox

As an international specialist insurer, we are far removed from the world of mass market insurance products. Instead, we are selective and focus on our key areas of expertise and strength – all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way of doing things.

We insure the unique and the interesting. And we search for the same when it comes to talented people. Hiscox is full of smart, reliable human beings that look out for customers and each other. We believe in doing the right thing, making good and rebuilding when things go wrong. Everyone is encouraged to think creatively, challenge the status quo and look for solutions.

Scratch beneath the surface and you will find a business that is solid, but slightly contrary. We like to do things differently and constantly seek to evolve. We might have been around for a long time (our roots go back to 1901), but we are young in many ways, ambitious and going places.

Some people might say insurance is dull, but life at Hiscox is anything but. If that sounds good to you, get in touch.

Diversity and Hybrid working

At Hiscox we care about our people. We hire the best people for the job, and we are committed to diversity and creating a truly inclusive culture, which we believe drives success.

Working life does not always have to be in the office. We introduced hybrid working to encourage a healthy work life balance. This hybrid working model is set by the team rather than the business to enable you to manage your own personal work-life balance. We see it as the best of both worlds; structure and sociability on one hand, and independence and flexibility on the other.

Apply now for further information

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