Country: Luxembourg
Creation Date: 03-Mar-2025
Employment Type: Permanent
Employment Type: Full time
Ref #: 1234571425
Description & Requirements
Role Title: Business Pricing Actuary – Commercial and Specialty - Europe
Department: LII Actuarial
Team: LII Actuarial
Location: Europe
Type: Permanent
About the Role:
This is an Actuary position within the LII Europe business actuarial team and its purpose is to support the growth objectives of LII Europe’s Commercial and Specialty insurance business across European branches with a focus on technical pricing and portfolio monitoring, providing and coordinating actuarial engagement with local European underwriting teams, and leading the development of best-in-class technical rating capabilities, including digital raters.
About the Department & Team:
You would be part of the LII Europe Business Actuarial team, which is currently a team of 4 located on the continent, and reporting into the LMIE & LII Europe Chief Actuary, based in Luxembourg. The rest of the LII Europe business actuarial team is based in London and consists of cca 5 members of staff also supporting the LII Europe pillar as part of their remit. In London there is also a larger team of cca 40 members of staff with wider pricing & analytics, reserving and capital management responsibilities servicing LII and other regions as a whole.
Whilst this role does not have specific location requirements, we would have a preference for the candidate to be located in one of LII Europe branches to best support our underwriting teams locally.
This is an exciting role in which you will be given the opportunity to shape LII Europe’s future and expanding European operations. You will be given the opportunity to develop the actuarial presence across LII’s European offices.
LII Europe underwrites cca $900m of GWP annually in Europe and has growth aspirations to further its market share in Europe in the coming years. The European portfolio encompasses Financial and Professional lines as well as Casualty, Energy and Marine exposures.
Key Responsibilities:
- Development and maintenance of technical rating tools including supporting the re-platforming of tools onto Runway and re-calibration of existing raters
- Individual large account pricing and performance monitoring
- Ensure adherence to local and global group pricing standards
- Design, facilitate and own actuarial input into European Quarterly Business Review committees and early warning KPIs therein
- Review and analyse pricing and claims MI to check accuracy and identify trends, opportunities or concerns
- Working with underwriters on strategic insight assignments such as segmental account profitability, deep dives and remediation plans to improve profitability and assess new growth opportunities
- Working with our US based Data Science Solutions teams to develop Advanced Analytics solutions across Europe, relying on predictive analytics or AI where possible
- Implement new pricing and monitoring process for digitally rated business in Continental Europe
- Working with our US based Data Science Solutions teams to develop Advanced Analytics solutions across Europe, relying on predictive analytics or AI wherever possible
- 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 Values, placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times.
Skills and Experience:
- Qualified Actuary and/or masters level qualification in a scientific degree
- Fluency and experience working in English
- Breadth and depth of understanding of the lines of business and current issues as well as actuarial processes within a non-life commercial and specialty insurance company
- Extensive practical experience essentially in pricing and strategic portfolio analysis-related applications
- Experience of designing and coordinating pricing and portfolio monitoring processes and reporting frameworks
- Strong interpersonal, verbal and written skills, communicating with a range of internal and external clients of varying experience.
- Excellent stakeholder and UW management skills. The role will involve delivering to multiple head of division underwriters and other Non-Actuarial Senior LII Europe Management
- Strong IT skills – advanced knowledge of MS Excel and the standard MS Office suite is essential; and experience working with other big data manipulation and visualization software as well as programming in Python would also be an advantage (although not a strict pre-requisite) for the role
About Liberty Specialty Markets (LSM)
Liberty Specialty Markets is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.
Our people are key to our success. That is why "Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:
- Offering a vibrant and inclusive environment and committing to their career development.
- Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
- Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
- A supportive culture, which includes promoting a healthy work-life balance and working flexibly.
For more information, please follow the links below:
https://www.libertyspecialtymarkets.com/gb-en/careers/working-for-us
https://www.libertyspecialtymarkets.com/gb-en/careers/diversity-inclusion-wellbeing/diversity-and-inclusion