China Re Group is the largest reinsurance group in Asia and the eighth globally by reinsurance premium. The Group is rated “A (excellent)” continuously by A.M. Best since 2010, rated “A+” or “A” continuously by Standard & Poor’s since 2014.
In 2016, we set up China Re Singapore Branch with the approval of a license from the Monetary Authority of Singapore. Our office is located within Raffles Place, at CapitaGreen on Market Street. Currently, we are writing both life and general business in the Asia Pacific region.
We are now seeking to fill the following position in our Singapore team.
General Reinsurance Actuarial Associate
About the team and role
General Reinsurance actuarial department aims to add value to the company by being at the forefront of analytics. Driving the development of novel solutions through the combination of risk knowledge and data science capabilities, we provide solutions and services to both internal and external customers. A variety of risks are managed through various measures such as pricing, reserving, catastrophe (CAT) modelling, capital modelling, reporting.
We are seeking a team player with a passion for analytics, someone who can appreciate the integrity of data. You will be an important ambassador of the team as you engage with the branch’s underwriting team, finance team, claims team as well as Head Office’s actuarial and risk departments.
Main responsibilities will involve
Reserving and reporting
• Support quarterly reserving for Singapore and Labuan Branch, including re-assessing them on China GAAP for Group’s reporting
• Manage internal retro reporting and coordinate with Head Office’s actuarial department
• Allocation of portfolio premium and claim liabilities to various lines of business and specific party related transactions
• Engage with underwriters in the premium estimation process, which includes reconciliation of clean-cut portfolios transfers
• Assess liquidity needs for both premium and claim liabilities
• Support in regulatory reporting which includes disclosures for various regulators: MAS, CBIRC, Labuan FSA
Capital modelling
• Support in annual capital modelling
• Review of experience studies, acquisition costs, expenses, retro arrangements, catastrophe exposure in existing and future business
• Quarterly update of capital model’s parameters
CAT modelling
• Run several CAT internal and external risk models and validate results
• Oversee implementations of these models and ensure consistency while meeting different purposes
Pricing
• Setting technical premium for various complex contracts, using both experience and exposure rating methods
Ad-hoc projects
• Design, enhance risk management tools for new and existing business needs
• Collaborate with Beijing head office to enhance international risk management framework
Requirements
• 1-2 years of risk management/actuarial science related experience in reinsurance industry
• University degree in risk management/actuarial science related study
• Excellent interpersonal and communication skills
• Strong analytical skills, and the ability to handle both conceptual and practical issues
• Proficient in Microsoft excel. VBA, python will be an advantage
• Fluently spoken and written English.
We regret that only Singapore Citizens and Singapore Permanent Residents need to apply for the position. Only shortlisted candidates will be notified.