SCOR is the 5th largest Reinsurance Company worldwide, following a profit-driven underwriting policy and practising selectively across all branches of reinsurance. Our specialist teams operate in over 120 countries, developing value added and innovative products and services and making long-term commitments to their clients, namely insurers and large corporations.
SCOR's aim, as an independent global reinsurance company, is to develop its Life and P&C business lines, to provide its clients with a broad range of innovative reinsurance solutions and to pursue an underwriting policy founded on profitability, supported by effective risk management and a prudent investment policy, in order to offer its clients an optimum level of security, to create value for its shareholders, and to contribute to the welfare and resilience of Society by helping to protect insureds against the risks they face.
Within the P&C Paris Reserving team, this position offers you the opportunity to join a small and skilled actuarial team and to develop from a core actuarial role into wider strategy areas and to in a multi-cultural environment. A key part of the role will be to perform actuarial reserving studies, carry out quarterly closings, participate in developing reserving tools and contribute to multi-functional projects. The P&C Paris Reserving team manages Euros3.3b Gross reserves (~30% of SCOR Global P&C stock as at Q3 2018) with mainly Motor, Liability and Property business.
Key duties and responsibilities
- Carry out quarterly technical closing (both IFRS and EBS).
- Perform annual analysis relating to P&C Paris Technical Reserves (Best Estimate, Payment patterns, Coefficients of variation).
- Develop reserving studies including specific methodologies for complex segments
- Enhancement of current studies (French Medical Malpractice, French Motor Liability, Non-proportional Decennial, Latent Claims)
- Development of new studies in collaboration with pricing, underwriting and Claims (Non-proportional Casualty, Other Motor portfolios, Facultative Decennial...)
- Ensure timely completion of quality reserve analyses and actuarial reserve reports for management and auditors, commenting on adequacy of non-life reserves. This includes consideration of use of external actuarial consultants.
- Provide reserving inputs to the internal model team within the framework of Solvency II for Paris P&C reserves
- Carry out studies of commutations and loss portfolio transfers
- Work closely with the other reserving teams, IT and its division responsible for development and maintenance of tools and systems, being proactive in matters of methodology and new IT developments
- Prepare presentations about technical reserving topics (specific studies, new methodologies, technical results, tools...)
- Participate in developing internal collaboration with other functions including Finance, Actuarial Pricing, Underwriting, Claims, local Accounting and external stakeholders (e.g. local auditors).
- Participate in work groups within the division to improve actuarial assumptions, parameters, methods and processes.
Required experience & competencies
- Just graduated or with 1 or 2 years of experience in a consulting firm or an insurance company as a non-life actuary. First experience in reserving of advantage.
- University degree in Mathematics, Statistics, Physics, Engineering or Actuarial sciences. SCOR supports actuarial training / education.
This position is located in Paris.