Trainee Underwriter, Speciality Reinsurance

London, United Kingdom

As a Trainee Underwriter in our Specialty Reinsurance Team in London, you will work closely with our Underwriters aiding them in their activities associated with new business, renewals, maintenance of the accounts and on models and systems. You will utilise your excellent communication and relationship building skills as you work closely with the underwriters, brokers and clients, as well as various functions and departments within AXA XL.

What you’ll be doing

What will your essential responsibilities include?

• Review submissions including the underwriting narrative, treaty wordings, claims data and exposure analysis.
• Assist the Underwriters by extracting the necessary data to the models and pricing tools for review, ensuring that risks are written or renewed in accordance with AXA XL underwriting guidelines. In due course, calculate the appropriate premium and provide the Underwriter with an overview of the risk. You should be willing to offer your own opinions on each risk.
• Collaborate with actuaries, contract wording and claims colleagues where necessary to optimise the terms and conditions for each risk. Work with the Underwriter to present the largest cases to senior management for review and sign-off.
• Work with our Global Shared Services team in India to ensure completed risks are bound on the system, with all the appropriate documents archived and necessary risks included within exposure management systems.
• Maintain accurate and up to date tracking of the exposures as you build and understanding of portfolio management.
• As your experience grows we expect you to widen your underwriting authority when you can demonstrate the competence as well as confidence to exercise it. AXA XL will also provide both internal and external training, as well as all the necessary development opportunities to progress within our business.
• Learn about portfolio management, preparing monthly reports to support senior underwriters in this activity. Assist the Specialty team to present their business to management on a quarterly basis, developing the necessary skill sets to underwrite a profitable account.
• Learn and understand the strategy and financial targets of AXA XL and those applicable to the Reinsurance business unit in London. You will be set appropriate individual targets and goals that support delivery of the business plan.

You will report to the Senior Underwriter.

What you’ll bring

We’re looking for someone who has these abilities and skills:

• Ideally you will have some experience in the London Market in an underwriting or actuarial pricing capacity: you need to be comfortable with working in the Lloyd’s underwriting environment for this role.
• A high level of numeracy, with a logical approach to the analysis of complex data. Accurate work and attention to detail is essential.
• A motivated self-starter with a clear ability to use initiative when required.
• You will be confident, have excellent analytical, interpersonal and organisational skills working on your own or as a team player. Striving for excellence and being innovative are the keys to taking the next steps up to become an Assistant Underwriter.
• You will enjoy fantastic communication skills, essential when liaising with colleagues and negotiating with brokers.
• You will be fully aware of the control processes that operate around the underwriting function and the need to comply with them.
• Ability to adapt quickly and easily to new conditions and requirements, externally in the market or internally within a changing organisation.
• A Bachelor’s degree in a STEM subject is preferred, or equivalent vocational training such as a completed Apprenticeship. Math’s A Level is a strong preference

What we offer

• Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe.
• Robust support for Flexible Working Arrangements
• Enhanced family-friendly leave benefits
• Named to the Diversity Best Practices Index
• Signatory to the UK Women in Finance Charter

• Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society – are essential to our future. We’re committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
• Addressing climate change: The effects of a changing climate are far-reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
• Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
• AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.

Who we are