Pricing Actuary
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About us
Chaucer is a leading insurance group at Lloyd's, the world's specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.
Headquartered in London, with international hubs in Copenhagen, Dubai, Miami, Dublin, Singapore, Sydney and Bermuda, to be closer to our clients across the world. To learn more about us please visit our website www.chaucergroup.com
Job summary
The Pricing Actuary will be responsible for Actuarial pricing primarily for Chaucer's Political Violence, Political Risk and Credit portfolios (with a focus upon account pricing, benchmark rate reviews and portfolio analyses).
The role will be strongly client-facing, incorporating support for broker negotiations, pricing support for insureds and involve developing new pricing capabilities.
The Pricing Actuary will also provide support for other classes as required within the insurance, reinsurance and Partnership / Innovation divisions.
The successful applicant will have self-assured technical pricing skills. The Pricing Actuary will have excellent communication skills and commercial awareness in order to provide effective broker and client support.
The Pricing Actuary will be located within the Actuarial pricing team in London and work directly with the underwriting team under the guidance of the Insurance Pricing Manager.
Main duties
- Develop a deep understanding of the Political Violence, Political Risk and Credit classes, trends and underwriting team strategy
- Account pricing and underwriter support for broker negotiations
- Ongoing portfolio monitoring for accounts and overall portfolio
- Contributing ideas for new MI
- Model recalibration reviews
- Support the collection and maintenance of pricing data
- Keep abreast of industry initiatives and develop new pricing/visualisation techniques and best practice where opportunities arise
- Collaborate, present and share knowledge with the wider Actuarial team on pricing approaches
- Assistance for other pricing team activities as required
Relevant experience Essential
General insurance pricing experience Desirable
Experience of Political Violence, Political Risk and Credit classes of business
Model development experience
Technical skills
Essential Strong IT skills, including comprehensive knowledge of Excel and VBA
Desirable
R or Python
SQL
Experience in building and using dashboards in PowerBI
Education & Experience
Essential 2.1 or 1st degree in Maths or a Maths-related subject (e.g. Physics, Engineering, Statistics)
3 or more 'A' levels, including Maths
Desirable FIA qualified (candidates making good progress towards FIA will be considered, note that if not qualified the job title would be "Senior Pricing Analyst" until qualification)
Personal skills
- Attention to detail
- Self-motivated
- Hard working and committed
- Professionally presented
- Organised and clear thinking
- Flexible and adaptable
- Ability to plan, organise work and multitask to meet targets and deadlines
- Able to collaborate, work as a team and communicate with staff at all levels
Other responsibilities
Some travel in support of Underwriter/Client meetings may be required.
Why Join Chaucer?
Chaucer is a leading global insurer operating in both Lloyd's and company markets, helping industries worldwide manage risk-from nuclear, shipping, manufacturing, and property. Headquartered in London, with offices in Copenhagen, Bermuda, Sydney, Ireland, Miami, Dubai, and Singapore, we're close to our clients wherever they are.
We have shown strong financial success with our Gross Written Premiums growing from $1.4bn in 2019 to $3.5bn in 2024. Backed by strong teams, platforms, and client relationships, Chaucer is poised for continued success.
We offer:
A flexible office hybrid work model that supports individual and team needs.
A diverse, inclusive culture that values people for who they are.
Extensive, non-contributory benefits, including medical, life, and pension cover, flexible holidays, and wellbeing support.