Underwriter - Excess Casualty

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’re 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.

To underwrite and manage all facets of the Excess Casualty account.

• Underwrite authorised class(es) of business in accordance with the business plan.
• Ensure that all underwriting obtains the required return on capital.
• Underwrite within agreed risk control framework including:
  • Individual risk limits as agreed under the underwriting authority matrix
  • Aggregate limits as per latest agreed syndicate aggregate limits
  • And all other controls as described in the latest version of the underwriting procedures manual
• Attend the Ascot box within Lloyd’s during underwriting hours.
• Liaise closely with the internal Claims Department and/or external claims adjusters as required.
• Assessment of Loss ratio analysis for individual accounts.
• Ensure underwriting files are of sufficient standard to ensure that effective Peer Review can be carried out and queries responded to within agreed SLA. Ensure the Technical Premium and Rate Movement is entered on S2000 for every risk.

• Ensure compliance with broker security requirements. Check that individual brokers adhere to their individual credit limits and that a TOBA is in place prior to quoting business with an unauthorised broker.
• Ensure compliance with Lloyds licencing requirements
• Assist with completion of sanctions checks
• Completion of annual compliance training
• Compliance bulletin review and action, where required.
• Ensure that Downgrade Clauses comply with Ascot’s Down Grade Clause Policy.

• Ensure that the account administration is at all times up to date for relevant class(es), including responding to queries raised by Administrators promptly.
• Work closely with Assistants and accept overall responsibility for administration.
• Ensure Claims data discrepancies between submission and S2000 are reported.

• Ensure that the purchasing of facultative reinsurance is done so in accordance with the RI purchase procedures.
• Ensure that any agreed endorsements that could affect the facultative reinsurance programme are notified to the reinsurance team.
• Work closely with the Reinsurance Department to ensure all cover notes are logged onto the system and to ensure overall compliance with the latest Reinsurance procedures.

• Check that there is available aggregate prior to quoting.
• Ensure that all aggregate information is recorded at the required level of detail.

• Attendance at the monthly underwriter meetings.
• Attendance at monthly Claims meetings.

• Manage the credit control issues for the class(es) including close liaison with Assistant Underwriters, Capita and brokers.

• Manage, motivate, and where necessary discipline subordinate members of staff.
• Participate in relevant internal committees.
• Ensure all senior staff are kept appraised of market issues and conditions.
• Prudently manage expenses within accounts.

• Develop and maintain relationships with key brokers within the insurance market.
• Develop and maintain relationships with clients.
• Represent Ascot at appropriate market groups and committees.

• Crystal/Lloyds QA Tool
• S2000 (Subscribe)
• Swordfish
• GAAP

• Ad-hoc duties as directed by line management.
• Implementation of new procedures.

Please be aware that Ascot Group’s job opportunities will be posted on our official careers page. All official communication comes from  email addresses, if you receive a job offer or recruitment communication from Ascot Group that you suspect might be fraudulent, do not hesitate to contact us directly to verify its legitimacy. We will never ask for payment or sensitive personal information during any stage of the recruitment process.

Your privacy and trust are of utmost importance to us, and we strive to ensure that you have a positive experience with Ascot Group.