A&H Underwriting Associate & Actuary

Odyssey Reinsurance Company (OdysseyRe) is the global reinsurance arm of Odyssey Group, one of the world’s leading providers of reinsurance and specialty insurance. OdysseyRe offers a broad range of property, casualty, and specialty reinsurance products, providing capital and risk management solutions for clients to efficiently manage economic risk, through a network of branch and representative offices across North America, Latin America, EMEA (Europe, Middle East & Africa), AsiaPacific and London.

OdysseyRe is an equal opportunity employer with excellent benefits and a strong commitment to providing training and opportunities for our staff. We provide employees an innovative, enriching environment and take great pride in their career growth.

OdysseyRe is rated A+ (Superior) by AM Best and A+ (Strong) by Standard and Poor’s. Odyssey Group is a subsidiary of Fairfax Financial Holdings Limited, which is traded on the Toronto Stock Exchange under the symbol FFH.

Summary:  The Employee is responsible for supporting the Vice President of Accident & Health in the evaluation of profitability of reinsurance proposals by preparing and using sound actuarial principles. The Employee will also ensure that treaty proposals contain terms and conditions, which are responsive and appropriate to client needs and adhere to the organization's overall underwriting guidelines.

Essential Duties:

• Analyze the profitability of treaty reinsurance submissions
• Support team of Actuaries and Underwriters in the evaluation of submissions for the placement of reinsurance coverage for various lines of business and products
• Create and improve reporting processes for the Accident and Health book of business
• Support the development of pricing indications
• Update pricing models parameters, including trends, increased limit factors, and development data using all available information
• Provide price monitoring information on bound accounts for subsequent loss reserve analysis
• Clear, precise, effective communication with internal actuaries, senior management, and clients
• Maintain familiarity with insurance industry developments that impact underwriting and pricing analysis
• Perform other related duties as required to achieve the goals and objectives of the company and department
• Document underwriting files and generate performance reports
• Analyze claims and quantify losses
• Review financial statements and ratios used in risk analysis
• Quantify risks based on claims experience history and forecasting methods

Job Requirements:

• Strong mathematical and analytical skills
• Strong proficiency in Microsoft Excel
• Microsoft Excel VBA coding skills a plus

• Interest in multiple lines of Accident and Health business including reinsurance pricing, coverage, and external factors that would affect profitability
• Comprehend complex data sets and the creativity to reach sound conclusions with available information

• Maintain confidentiality of company-sensitive data and Personal Health Information
• Perform other related duties as required to achieve the goals and objectives of the company and department

Office Location:

• This position is based out of the Stamford, CT Odyssey Re office and the Employee will be required to work out of the office a minimum of three days per week.

Travel Requirements:

• None to minimal

Education & Experience: 

• Bachelor’s degree in actuarial science, mathematics, or similar field
• Knowledge of the Accident & Health and reinsurance industries as it pertains to coverages, rate making process, risk exposures, and contracts a plus
• No experience necessary, 0-3 years in the insurance industry acceptable
• Minimum 2 Society of Actuaries exams passed
• Working towards ASA or FSA designation

Supervisory Responsibilities:   

• This position has no supervisory requirements

Additional Responsibilities:

• This position will participate in the Odyssey Re Actuarial Student Program and be subject to salary increases according to the Program. Exam fees and study materials may be eligible for reimbursement, and study time will be provided. Passing of Actuarial exams will be required.

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