Assumed Reinsurance Underwriter Trainee - Cedar Rapids, United States - United Fire & Casualty

Description

UFG is looking for a Reinsurance Underwriting Trainee to join the team. In this role you will learn the fundamentals of reinsurance underwriting and will be responsible for learning reinsurance structures, buying objectives, pricing, and accounting. Instruction will be provided on the job by senior underwriting team members and cross-departmental professionals. The trainee will gain an understanding of the strategic objectives of the business unit and contribute to the acquisition of a profitable portfolio of financial lines reinsurance contracts. The trainee will participate in the analysis of treaty submissions and determination of their acceptability within framework of UFG underwriting policies and strategy.

Responsibilities:

• Gain an understanding and develop analytical skills on how to investigate, analyze differences in terms across new or renewal submissions and year-over-year changes.
• Prepare treaty experience and exposure analysis for input in the underwriting decision process.
• Participate in the drafting of referral memos.
• Assist underwriters in the management of their books of business, including input of treaty underwriting and pricing details in the Assumed Reinsurance Contract Management System.
• Participate in remote client meetings.
• Underwrite submissions with assistance from mentors and learn to make underwriting recommendations.

• Bachelor's degree, or combination of education and reinsurance experience.
• Bachelor's degree in business administration, economics, finance or accounting preferred.

• Employees are expected to participate in continuing education throughout their careers.
• Trainee will obtain ARe designation during their first year.

• 1+ years of professional work experience preferred.

• General office environment, in-office required 4 days per week.
• No travel in year 1, approx. 10% overnight travel by year 3

• Strong mathematical reasoning and analytical thinking and nimble learning skills.
• The ability to self-plan and prioritize.
• Demonstrated professionalism and ability to collaborate.
• Knowledge of MSOffice systems to include Outlook, Excel (pivot tables), and Word.
• Understanding of financial terms preferred.
• Strong business knowledge and acumen.