Senior Actuary

Job Vacancy
Nov. 2023


Bell & Clements is a specialist insurance company offering expertise in underwriting, broking and capacity management provisions for Excess and Surplus (E&S) lines insurance solutions. The unique combination of broking and underwriting divisions provides the ability to quote and bind risks through inhouse binding authorities, while providing customers with access to Lloyd’s, US and international markets. Bell & Clements has been part of the Munich Re Group since 2007 and is a registered Lloyd’s broker. There are over 150 staff based across the London headquarters and two U.S offices in Virginia and New Jersey with close collaboration throughout.

Bell & Clements offers industry-leading technology solutions that benefit both customers and inhouse processes. As part of the Munich Re Group enables an inclusive culture with an established employee benefits programme.


Your Role:
Are you ready for a new challenge? We are looking to hire a lead pricing actuary for Munich Re Specialty Insurance’s Bell & Clements business unit, which writes residential property, commercial property, and other coverages on an excess and surplus basis in the US market by delegating authority to select coverholders. This individual will support the profitable growth across existing and new products in support of Munich Re Group’s Ambition 2025. 
The role reports into the Chief Underwriting Officer of Bell & Clements and is based in London. We are also open to considering candidates in Princeton NJ, Philadelphia PA in the US. 



Partner with Business Unit and Coverholders as a trusted advisor to drive pricing excellence for Residential Property, Commercial Property, Transportation, Flood, Earthquake, Lender-Placed, and other products.

Develop technical pricing indications across responsible products based on actuarial techniques, including predictive modeling.

Perform rate studies across responsible products to evaluate portfolio rate need, project profitability, and guide Business Unit to improve profitability.

Develop result monitoring, pricing and portfolio management projects that will assist underwriters and management in managing and steering business.  Document and communicate assumptions, results, and alternatives to actuarial staff, internal clients, and external clients.

In consultation with the Cat Modeling team, drive improvements in the sophistication and accuracy of technical pricing for catastrophic perils, including tropical cyclone, severe convective storm, winter storm, earthquake, wildfire, and flood.

Liase with Digital Underwriting team to enhance models and workflows used to digitally price Residential Property and Commercial Property business.

Conduct pricing analyses, including the development of rates, ultimate loss projections, trend studies, and communication of results. Influence stakeholders based on results of analyses.

Strong understanding and ability to discuss and apply the use of existing & new actuarial concepts/techniques involving exposure adjustments, trend, loss development, exposure rating, et al.

Provide actuarial insight and expertise on actuarial assumptions and parameters as participant or lead on a Market Research Analysis and Parameters (MRAP) line of business group.

Maintain contemporary, in depth knowledge of property lines of business.

Participate in training of others (underwriters, client managers, risk analysts, accountants and actuaries) regarding actuarial analyses and methodologies.

Mentor, train, and review analyses from more junior actuaries



Incorporate qualitative information into quantitative analyses of rates, etc.

Develop strong understanding of actuarial concepts and analytics.

Application of more advanced and creative techniques in worksheets and other applications.

Strong judgmental and problem-solving skills to address potentially complex and high-profile issues.

Ability to identify, obtain and utilize industry information relevant to the completion of rate analyses.

Good time management and organizational skills including the ability to manage conflicting priorities, complete multiple tasks and projects.



Membership in the Casualty Actuarial Society or Institute and Faculty of Actuaries required. FCAS/FIA preferred.  
Eight (8) or more years of experience in primary insurance pricing, especially property lines.
Strong technical actuarial skills and strong knowledge and understanding of rating models.
Strong understanding of industry catastrophe models, including vendor models such as RMS and AIR.
Strong interpersonal skills. 
Experience in use of R, Python or other statistical software in insurance pricing applications.
Excellent oral and written communication skills.


This position is offered on a Permanent basis. Annual salary will be dependent on the experience of the successful candidate. Benefits as per Bell & Clements standard employee offering. Annual leave - 25 days per year (not including bank holidays), increases with length of service. Health & Wellbeing – our offering includes private medical insurance for employees, their partners and their families, a Digital GP service, and an allowance of up to £550 per year for any activities and/or equipment which supports health and wellbeing. Hybrid and remote working – to support your work balance we have introduced hybrid working. You will be provided with designated office desk space, with support to work from home up to a maximum of three days per week. Flexible working hours – the opportunity to flex your working hours.  Generous gender-neutral family leave policy - employees with 26 weeks’ continuous service at the Expected Week of Childbirth are eligible to receive 26 weeks full pay. Professional Qualification Support – (discretionary) financial support covering the cost of professional qualifications, including institute membership, exams, study materials and completion bonuses. Team fun – warm and social culture with regular get together.
Equal Opportunities:
Bell and Clements is an equal opportunities employer and positively encourages applications from suitably qualified and eligible candidates regardless of sex, race, disability, age, sexual orientation, transgender status, religion or belief, marital status, or pregnancy and maternity.

Category: Job Vacancy
Tags: London