New Business Reinsurance Director

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VN-14170

Permanent

London

Competitive

2 August 2019

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The role is to work as a senior member of the Legal & General Retirement (LGR) team supporting the achievement of the business’s targets

The role is to work as a senior member of the Legal & General Retirement (LGR) team supporting the achievement of the business’s targets

The role will involve…

  • Leading the execution of reinsurance transactions for LGR’s business
  • Actively develop and maintain relationships with all the reinsurers
  • Supporting the development of new structure ideas
  • Development of risk sharing structures with reinsurers
  • Ensuring that innovative reinsurance structures are captured appropriately in the pricing models

LGR require capital light solutions to writing new business through the use of reinsurance and structured solutions.  The overall annuity market is expected to continue to grow over the mid to long term and see continued change in transaction size and structure. Legal & General is well placed to maintain a sizeable market share in this market provided we can perform in a capital efficient manner. Growth and competitiveness in this market will be highly dependent on the ability to structure and execute innovative, capital light transactions and being able to hedge a large portion of L&G’s risks with reinsurers.

Key Responsibilities.. 

  • Lead the execution of new business reinsurance transactions
  • Proactively maintains relationship with reinsurers
  • Support the development of new structures, collateral arrangements, security agreements, within LGR
  • Ensure that structural development is completed within an auditable framework with the appropriate sign offs
  • To work as part of the LGR team to support it to achieve its targets in terms of capital usage, premium volume and margin.
  • To support the development and implementation of strategies for LGR.
  • Knowledge of the relevant statutory, regulatory and common law applicable to the Group’s businesses and its corporate governance.
  • Knowledge of longevity reinsurance under Solvency II.
  • An awareness of legislative and best practice change and its applicability to Legal & General.
  • A practical knowledge and understanding of  the longevity reinsurance market
  • Experienced financial markets professional with knowledge of capital modelling, derivatives, pension schemes, benefit structures, collateral mechanisms and valuation of annuities
  • Knowledge of pension regulation and its application to pension buyouts and longevity insurance
  • Knowledge of life companies and their structures and structures in relation to selling business to pension schemes.  

Whatever your role, we reward ability, performance and attitude with a package that looks after all the things that are important to you. Our employees have a wide range of benefits including a generous pension scheme, life assurance, 30 days' holiday, private medical insurance, performance related bonuses, discounts at both a huge range of high street stores and our own great products, as well as a 12% car allowance scheme, your hard work will be rewarded when you join us.

For more information please contact Chloe McCauley, Resourcing Lead - chloe.mccauley@landg.com.

About L&G

Working here is about being there for our customers; we’re available should the worst happen and we work together to enable social and financial equality across the UK. But it’s also about you –how you develop and what you can achieve. We’ll help your talent thrive in an environment where you’ll be supported to work flexibly and autonomously, sharing in our success and rewarded for a great performance with a generous benefits package.

About the business area

With around one million customers, our retail business helps turn customers’ pension savings into lifelong retirement income and our corporate business looks after our defined benefit pension schemes ensuring they are effectively managed to protect against risk and achieve their maximum potential.

We are an equal opportunities employer and welcome applications from all suitably qualified persons regardless of their race, sex, disability, religion/belief, sexual orientation, gender identity or age.

Back to search

About L&G

Working here is about being there for our customers; we’re available should the worst happen and we work together to enable social and financial equality across the UK. But it’s also about you –how you develop and what you can achieve. We’ll help your talent thrive in an environment where you’ll be supported to work flexibly and autonomously, sharing in our success and rewarded for a great performance with a generous benefits package.

About the business area

With around one million customers, our retail business helps turn customers’ pension savings into lifelong retirement income and our corporate business looks after our defined benefit pension schemes ensuring they are effectively managed to protect against risk and achieve their maximum potential.

We are an equal opportunities employer and welcome applications from all suitably qualified persons regardless of their race, sex, disability, religion/belief, sexual orientation, gender identity or age.