Actuary - Third Party Lines

Location:

Hybrid Working Model with Office in London Type:
Permanent About the Department & Team:

The Actuarial Function evaluates business performance and provides Liberty Specialty Markets' management with a clear, risk-based view for making decisions on business strategy and risk mitigation. The department covers all aspects of actuarial work including pricing, reserving, business planning, and capital, and supporting exposure management and reinsurance purchasing. The team operates on a global basis with a team of around ninety actuaries, of which around sixty are based in the UK.

The Actuarial Function currently comprises the following core teams:

As part of an integrated business function, we collaborate closely with Underwriting and other aligned business functions including but not limited to Claims, Finance, Portfolio Management and Operations. Our responsibilities encompass class-level pricing, business planning, analytics, strategic support and non-standard capital premium risk parameterisation. We operate within multi-functional teams, where roles are effectively managed and backed by a robust centralized infrastructure that includes data, analytics, modelling, reporting, and risk governance, supported by the various Actuarial teams mentioned below.

A broad and varied remit supporting delivery on key strategic priorities, including delivering new pricing models on leading-edge platforms as part of the wider underwriting transformation. Developing new predictive models and delivering consistent and scalable Actuarial pricing and portfolio analytics MI (Management Information) and standards across LSM, working closely with Pillar Actuaries and Underwriting.

Responsible for actuarial reserving analysis across LSM Commercial & Specialty and LMRe businesses providing transparent and independent view of business performance through consistently applied reserving best practice. Acting as independent trusted advisors to the business, the team is responsible for objectively communicating the quarterly reserve analyses with insight and confidence.

Maintains and develops the Internal Model for capital assessment and solvency reporting requirements of LSM’s regulated Legal Entities. Working closely with the Actuarial teams above and other LSM Enterprise Risk Management and Finance business functions in parameterisation, validation and modelling infrastructure; supporting risk and return on equity-based decision making across the business.

Continuing our implementation of a best-in-class pricing platform for our insurance lines across our global portfolio and delivering analytics that drive enhanced underwriting risk and strategic portfolio management.

Further building on our strong partnerships with Underwriting and aligned business units, being exceptional trusted advisors in our consistent use and communication of data and analytics capability across our business.

This role sits within the Pillar team aligning to the Third Party Lines. These lines account for c.$450m of planned GWP in 2025 across LSM’s London Market and MENA operations. Specific lines covered are:

• Directors & Officers (D&O)
• Financial Institutions
• Professional Indemnity
• Strategic Assets (Cyber)
• Primary & Low Excess - GL
• Primary & Low Excess - EL
• High Excess

The candidate will provide support to the team and related business stakeholders with clear ownership responsibilities in the following main functional aspects of Actuarial work.

The role reports to the Senior Actuary, Third Party Lines.

Directly supporting and influencing Senior Underwriting management, and collaborative working as part of an Integrated Business Unit with Portfolio Management, Finance, Claims, Operations and Enterprise Risk Management functions.

• Development of underwriter rating tools, technical pricing analytics and platforms.
• Individual account pricing, new business due diligence and performance monitoring.
• Compliance and reporting against internal and Regulatory Best Practice pricing and underwriting risk management standards.
• Strategic portfolio profitability analysis "deep dives" to prospectively inform changing mix of business impact in Business Planning, renewal book remediation and new business growth strategies.
• Business Planning and Capital Management loss ratio parameterisation processes. This includes focus on manmade cat exposure management and risk appetite governance frameworks.
• Liaising with reserving throughout the quarterly reserving processes ensuring feedback loops.
• Provide the highest quality professional service and actuarial support to the business in all aspects of the above responsibilities.
• Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to our Liberty…