Assistant Vice President, Property Facultative Reinsurance

Job Description

This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.

Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we are bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.

The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.

Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world class service — both pre- and post-claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.

Job Summary

Ascot is looking for a detail-oriented and analytical underwriter to join our Property Facultative Reinsurance Team. In this role, you will collaborate with senior management and a skilled team of underwriters and support staff, contributing to the growth of the US Property Facultative Reinsurance division. You will work closely with our London teams, ensuring the profitability of the North American Property Facultative book of business while supporting ongoing business development. Strong organizational skills and a focus on accuracy are key to success in this position. In this role, you will report to the Senior Vice President, Property Facultative Reinsurance.

Responsibilities And Duties

• Manage the profitability, growth, and retention of an assigned US-based Property Facultative Reinsurance book of business.
• Understand Ascot’s risk appetite and underwrite property reinsurance accordingly and within designated underwriting authority.
• Underwrite and negotiate complex customer accounts to minimize risk and maximize profitability.
• Maintain and improve Property Facultative reinsurance products offered by the company.
• Utilize our generated data and third-party data to improve the underwriter productivity of the group and better engage our distribution partners
• Collaborate with the compliance department to ensure that all products are in line with corporate guidelines and procedures.
• Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long-term profitability at account level.
• Work independently within delegated underwriting authority and make referrals as required.
• Cultivate and maintain relationships with Reinsurance peers, leaders, and internal partners across functional areas to identify cross-selling opportunities.
• Foster and maintain external relationships with brokers in an effort to market and sell Ascot’s products.
• Ability to understand Ascot’s reporting systems, with quarterly data analysis of KPIs and changing portfolio trends.
• Perform other duties as assigned.
  
  

Experience And Skills Required

• Bachelor’s degree or equivalent experience.
• Minimum of 5 years of underwriting experience in the insurance industry, with 3 years of U.S. focused Property Facultative (Re)insurance underwriting experience strongly preferred.
• Knowledge of Property Facultative insurance products, insurance regulations and the insurance industry.
• Strong collaborative skills and ability to thrive in a fast-paced, entrepreneurial environment.
• Strong critical thinking skills.
• Excellent organizational, desk management and prioritization skills with the ability to work independently and as part of a team.
• Must be positive, self-motivated, and possess strong interpersonal, communication and presentation skills.
• Possess strong technical, analytical, and quantitative skills.
• Excellent oral and written communication skills, ability to successfully negotiate in difficult situations with agents and brokers.
• Solution oriented team player with a strong relationship management skill set working with both internal and external stakeholders and customers.
• Proficient in Microsoft Office
• ARe, CPCU, ARM or other relevant professional designation preferred, but not required.
• Travel 10-15%
  
  

***This position may be filled at a different level, depending on experience***

Compensation

Actual base pay could vary and may be above or below the listed range based on factors including but not limited to experience, subject matter expertise, and skills. The base pay is just one component of Ascot’s total compensation package for employees. Other rewards may include annual cash bonus, and other forms of discretionary compensation awarded by the Company. The annualized base pay range for this role is: New York Metro & Chicago - $145,000 - $165,000.

Company Benefits

The Company provides a competitive benefits package that includes the following (eligibility requirements apply):

Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Life Insurance, AD&D, Work/Life Resources (including Employee Assistance Program), and more.

Leave Benefits: Paid holidays, annual Paid Time Off (includes paid state /local paid leave where required), Short-term Disability, Long-term Disability, Other leaves (e.g., Bereavement, FMLA, Adoption, Maternity, Military, Primary & Non-Primary Caregiver)

Retirement Benefits: Contributory Savings Plan (401k)