Head of Managing General Agents (MGA)

Head of Manging General Agents (MGA)

Location: City of London

Salary: £100,000 - £110,000

An exciting opportunity for a Head of MGA to join one of our clients, who are a multinational reinsurance company and number one in their space! You will be responsible for Leading and developing the actuarial team and responsibility for the actuarial team supporting GSI4, including pricing, and supporting financial planning and reporting. Overview of the reserving performed by Central Reserving and ensure regulatory compliance across in scope activities.

Main Responsibilities:

• Define and implement the key responsibilities and processes of the actuarial team.
• Mentor, coach and develop the team as a whole and its members individually to keep abreast with actuarial, data science and business development and maintain a high-performance culture.
• Setting the pricing strategy per Brand and Partner for the relevant. book of business.
• Implementing and maintaining pricing systems and processes.
• Monitoring and managing pricing effectiveness.
• Ensuring compliance with regulatory aspects of pricing.
• Define and set the technical performance parameters as part of the overall business planning.
• Reforecast the business performance throughout the year.
• Regular reporting including formal presentations when required to senior stakeholders within the business
• Ensuring GSI4 MGA's have a realistic and justifiable best estimate view of the ultimate technical performance of its business.
• Establishing and maintaining a robust end-to-end process for performance monitoring.
• Define and monitor tolerances for actuarial risks (large and accumulation risks).
• Implement internal and adhere to group-wide risk monitoring processes (eg, nat cat budgeting).
• Define reinsurance strategy and lead renewal communication with intermediaries and capacity providers.
• Establish resp. maintain close ties with the actuarial and data science communities within the group.
• Establish pilots and collaborations to test, develop and implement modern data science models into the actuarial fields.
• Ensuring an orderly process of run-off partners from an actuarial
• Actuarial oversight on projects
• Periodically review pricing (or technical) sophistication against relevant market benchmarks. Develop and maintain market-leading levels of sophistication (pricing methodologies, tools, data, etc.) and engage with independent 3rd parties (or MRM) for benchmarking; specifically for the classes of business and markets we operate in.

Key Skills & Experience:

• Proven actuarial experience in GI Personal Lines (in risk pricing, reserving, financial planning)
• Strong understanding of financial and statistical analysis, including experience with pricing and reserving models and methodologies.
• Expertise in data analytics and the ability to leverage data to inform decision-making.
• Excellent communication and presentation skills, with the ability to effectively convey complex information to a wide range of audiences.
• Strong leadership and management skills, with the ability to effectively lead and develop a team.
• In-depth knowledge of the insurance industry and regulatory requirements related to pricing and reserving.

Benefits:

• 25 Days Holiday with option to purchase more
• 10% Pension with no employee contribution required
• 4 Wellness days per annum
• Private Medical, Health, Life Insurance
• Annual bonus
• Flexible benefits + many more!

If you feel like you have the skills and experience and are keen to pursue a role as a Head of MGA with a world leader in insurance/reinsurance, then please click the link to apply for immediate consideration and a confidential chat!