Laz Partners
Non-Life Insurance Risk Specialist - Structured Credit & Financing
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Role Overview
We have exclusively partnered with a leading global investment bank looking to hire a Non-Life Insurance Risk Specialist into its London-based Insurance Financing team.
This is a newly created front-office investment banking role sitting at the intersection of insurance, structured credit and financing. The team works with insurers, reinsurers and institutional investors across both advisory and balance sheet-led transactions, providing financing against a range of insurance-related assets and structures.
As the business continues to expand its activity across non-life insurance and insurance-linked financing, the team is looking to add dedicated P&C expertise to assess the underlying insurance risk it is lending against. The successful candidate will become the team's specialist across catastrophe and casualty risk, analysing expected losses, tail duration, reserving trends and claims severity across multiple lines of business.
Rather than operating as a traditional actuarial function, this role will translate detailed insurance risk analysis directly into investment and financing decisions - helping the team determine how transactions should be structured, sized and priced.
This is a differentiated opportunity for an actuarial or insurance professional to move into a front-office investment banking environment, working directly alongside senior origination, credit and financing professionals and helping build out a growing area of the bank's insurance franchise.
The level of the hire is flexible and will depend on their experience.
Key Responsibilities
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- Assess expected loss profiles and modelled loss ratios across a broad range of non-life insurance exposures, including both catastrophe-driven and long-tail casualty risks.
- Analyse the expected duration and tail of liabilities across individual lines of business and assess how these risks should influence financing decisions.
- Work closely with origination and credit teams to inform facility structuring, advance rates, pricing and overall risk appetite.
- Monitor insurance pricing cycles, rate movements, reserving trends and emerging claims developments across relevant P&C markets.
- Analyse jurisdictional factors that can materially influence claims severity, including litigation environments, settlement behaviour and differences between individual markets or US states.
- Assess catastrophe and event-driven risk, including structures with binary or parametric triggers where the probability and severity of an event are central to the investment or financing decision.
- Evaluate the underlying insurance risk across a range of reinsurance and insurance-linked financing structures.
- Translate complex actuarial and insurance analysis into clear commercial conclusions for investment bankers, credit professionals and other colleagues without specialist insurance backgrounds.
- Support discussions with insurers, reinsurers, investors and other institutional counterparties where specialist P&C risk expertise is required.
- Help identify areas where the bank can expand its non-life insurance financing activity while remaining within appropriate risk parameters.
Requirements & Qualifications
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- Professional experience within non-life insurance, reinsurance, actuarial analysis, catastrophe modelling, reserving or a closely related insurance risk discipline.
- Strong understanding of P&C insurance risk, with the ability to analyse multiple lines of business rather than specialising exclusively in a single product area.
- Experience analysing loss development, expected loss ratios, reserving, claims severity and long-tail insurance exposures.
- Understanding of both catastrophe-related and casualty-related risks, with the ability to assess how the underlying risk profile differs across individual lines of business.
- Strong analytical capability and the ability to form an independent view on the probability and potential severity of insurance losses.
- Sufficient markets, credit or investment awareness to understand how insurance risk analysis translates into the sizing, structuring and pricing of a financing transaction.
- Strong communication skills, with the ability to explain technical insurance and actuarial concepts clearly to non-specialist investment and credit professionals.
- Experience within an insurer, reinsurer, insurance-linked securities manager or other investment organisation analysing insurance risk would be particularly relevant.
- Exposure to insurance-linked securities, catastrophe bonds, reinsurance sidecars or parametric structures would be advantageous.
- Familiarity with US insurance markets, including differences in jurisdiction, litigation environment and state-level regulation, would also be beneficial.
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