Bermuda Reserving Actuary
Enstar Limited, a wholly owned subsidiary of Enstar Group Limited, which acquires and manages insurance and reinsurance companies, is seeking a Bermuda Reserving Actuary. The role supports Bermuda Reserving and Group/Bermuda Finance teams
The main responsibilities of the position are as follows:
- Prepare Technical Provisions in the Bermuda Economic Balance Sheet and Bermuda Loss Reserve Specialist Opinions (LRSOs)
- Lead reserving for Bermuda subsidiaries, including:
- Ownership of reserving analyses for Enstar portfolios
- Assessing and incorporating the impact of reinsurance and intercompany arrangements
- Assume responsibility for compiling analysis and related documentation (meeting actuarial professional standards) supporting actuarial opinions for Bermuda-based entities
- Perform reserving peer reviews for various Enstar portfolios where reserving is performed internally without external actuarial consultants
- Oversee reserving and performance monitoring of fronting arrangements, including:
- Review and challenge of loss estimates and underlying data
- Coordination with claims, finance, and counterparties to ensure accurate recognition of exposure and liabilities
- Ensuring alignment between contractual terms and booked reserves
- Support and enhance reserving for ILS portfolios, including:
- Review and validation of third-party provided reserving inputs
- Assessment of reserving uncertainty and volatility in ILS portfolios
- Collaboration with internal stakeholders to ensure consistency with Group reserving
- Serve as the actuarial representative on Bermuda subsidiaries when addressing requests from the Bermuda Monetary Authority (BMA)
- Assist with the operation of and ensure compliance with Internal Control framework around reserving
- Opportunity to support actuarial capital modelling needs that arise
- Opportunity to partner with key functions within Enstar as needs arise
- In addition to key responsibilities, undertake other duties from time to time as the Company may reasonably require
- Carry out duties within our internal policies and procedures in accordance with applicable laws, regulations, and governance standards
Qualifications:
- 8+ years of reserving experience in non-life insurance
- Experience with reinsurance structures, ILS portfolios, or fronting arrangements preferred
- Strong communication skills to lead cross-functional projects across global actuarial and finance teams
- Actuarial qualification (e.g., FCAS, FIA, etc.) preferred
- Advanced knowledge of Microsoft Excel
- Knowledge of ResQ reserving software preferred
- Familiarity with ILS, collateralized reinsurance, and fronting structures preferred
- Capital Modelling experience (nice to have)
- Ability to work collaboratively across functions (e.g., finance, claims, actuarial, operations) and geographies
- Ability to deliver results under tight deadlines
- Strong analytical and problem-solving abilities
Who we are:
We are a trusted global re/insurance group and the leading provider of retrospective solutions, with specialist underwriting capabilities. We help our clients manage risk, unlock capital and create the financial freedom to grow. With operations across the world’s major insurance hubs and a global network of close to 800 talented professionals, we bring expertise and fresh thinking to some of the industry’s biggest challenges.
For more information about Enstar, visit our website: www.enstargroup.com.
For more information about careers at Enstar, visit our LinkedIn Life page or visit our careers site
Why Enstar:
Learning and development are a fundamental part of every employee's career journey with Enstar. Supporting growth and career progression is key to how we engage our people - helping them to learn, grow and succeed at Enstar.
We offer a range of initiatives and resources to support our people throughout their careers:
- Professional Qualifications and Study Support: We support employees who wish to take professional qualifications aligned to their role and career development.
- Training, Conferences & Seminars: As a global organisation, we work with many professional bodies to provide access to training programmes, conferences, seminars and continuing professional development (CPD) opportunities.
- Digital Learning Hub: Our digital learning hub, LinkedIn Learning, offers a wide range of self-serve resources, including courses, videos, eBooks, and audio books, to help employees build news skills and deepen their knowledge.
We also invest in physical, mental and financial wellbeing initiatives for our employees. Supportive teams, inspiring work and a positive working environment all contribute to our collective wellbeing. Beyond the workplace, we strive to make a positive influence in our communities and to continuously reduce our impact on the environment.
Enstar Inclusivity Policy:
Our annual Inclusivity Index puts Enstar ahead of the industry in terms of promoting an inclusive and welcome working environment. We’re an equal opportunity employer and believe that our inclusive environment creates an authentic working culture. We don’t discriminate on the basis of age, physical or mental disability, gender reassignment, marriage and civil partnership, pregnancy and carer status, race (including colour, nationality, and ethnic or national origin), religion or belief, sex and sexual orientation. Enstar is committed in providing an accessible recruitment experience for all those interested in working with us. Please let your Enstar Recruitment Partner know if you require any reasonable accommodation during the application process due to a disability to enable you to fully participate in our recruitment process.
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