Reinsurance Underwriter

WHO WE ARE 

Domiciled in Bermuda, with offices in London, Miami, New York and Dubai, Relm Insurance Ltd. (“Relm”) is the first IIGB (Innovative Insurer General Business) insurer regulated by the Bermuda Monetary Authority (“BMA”). Since inception, Relm has remained focused on its Vision of “Making Innovation Resilient” by providing insurance to companies pioneering new technology frontiers in over 35 countries around the world.  Relm’s dynamic global team has executed market-leading insurance solutions for companies operating in web3, AI, financial technology, biotech and other important emerging sectors.  

WHAT WE ARE LOOKING FOR 

At Relm Insurance Ltd, our Mission is “To contribute to the building of the future by creating solutions for complex risks in innovative markets.”  As we continue leading the way in emerging industries, we’re looking for a AVP, Reinsurance to join our team in Bermuda and play a key role in this mission.

At Relm, we believe in fostering a diverse and inclusive culture, where everyone is empowered to bring their unique perspectives and ideas. Our core values of Accountability, Collaboration, Curiosity & Creativity, and Courage & Optimism are central to who we are, and we strive to bring these values to life every day. 

We bring these values to life every day — whether by collaborating on innovative solutions, tackling challenges with optimism, or pushing boundaries with creativity and courage. 

Requirements

WHAT YOU WILL DO

ASSUMED -

The AVP, Reinsurance will ultimately be responsible for identifying opportunities for Relm to gain incremental traction and eventual scale as a credible reinsurance partner. In this role, you will:

• Execute strategic underwriting plans aligned with premium and profitability objectives, as well as service excellence;
• Underwrite and maintain/service profitable new and renewal business exercising independent judgment based on comprehensive analysis of reinsurance submissions including terms, conditions and coverage intent;
• Broadly explore business development opportunities to identify the most productive use of capacity, including treaty and facultative opportunities; fronted business, program business, traditional cedants and captives; commutations/novations and loss portfolio transfers; property, casualty specialty lines; and participation on product development initiatives;
• Effectively communicate with Underwriting, Actuarial, Claims, Legal, Accounting on issues that involve pricing, contract wording, premium & loss bookings and claims, to ensure profitability of accounts and compliance with corporate guidelines;
• Provide top quality customer service to brokers and cedants;
• Assist in development of internal pricing and modeling tools in order to establish appropriate pricing options on accounts in various structures, lines of business, and currencies, including digital assets;
• Negotiate competently with brokers and clients, providing constructive feedback and offering alternative risk solutions when needed;
• Assist in executing alternative reinsurance strategies
• Assist in constructing a risk managed and diversified portfolio of reinsurance business that is considerate of correlation to Relm’s directly written business;

CEDED -

The AVP, Reinsurance will contribute to Relm’s ceded strategy across all lines, assist in coordination of the reinsurance submission process for both new and renewal ceded reinsurance treaties, and facultative placements. They will also be heavily involved with Relm’s expansion strategies – working with capacity providers in various new jurisdictions, enabling Relm Insurance to enter new markets.

• Assist the Head of Reinsurance in optimizing the use of reinsurance and alternative reinsurance in support of the business strategy;
• Proactively oversee the implementation and maintenance of reinsurance contracts and programs;
• Facilitate or participate in quantitative actuarial contract profitability and impact analyses on multiple lines of business;
• Develop and maintain security standards that maximize Relm’s flexibility to prudently obtain risk transfer from rated, unrated, and collateralized reinsurers;
• Develop or maintain understanding of catastrophe modeling concepts (to the extent applicable); and
• Build and maintain relationships with reinsurance brokers, reinsurer markets and other external relationships related to Ceded Reinsurance;

GENERAL

• Negotiate and manage fronting and capacity relationships for Relm’s Insurance portfolio in a variety of jurisdictions globally
• Monitor and communicate quarterly reinsurance contract activity and financial information;
• Assist with reinsurance accounting as needed;
• Maintain updated contract documentation and bordereaus and distribute appropriately;
• Assist in responding to inquiries from underwriting, claims or any other corporate disciplines on reinsurance coverage issues;
• Remain current with insurance product/line of business changes and reinsurance industry trends;
• Understand, identify and monitors (re)insurance market trends, risk landscape and regulatory developments that may affect business;
• Develops new ideas and innovative products and solutions to solve capacity problems;
• Represent Relm at industry events and with clients by demonstrating deep knowledge on important market and industry topics; and
• All other duties as required.

WHAT YOU BRING TO THE TABLE: 

• Demonstrated reinsurance underwriting/actuarial acumen as evidenced by at least 5-7 years of industry experience;
• Willingness and ability to take an entrepreneurial approach as Relm builds a reinsurance book from the ground-up and to overcome challenges arising from Relm’s status as a new market entrant without an AM Best rating;
• Expertise in crafting tailored reinsurance solutions to meet unique and specialized requirements;
• Excellent reinsurance technical skills; actuarial qualification highly preferred
• Ability to analyze and interpret insurance and reinsurance contracts at an advanced level;
• Extensive knowledge of policy terms and criteria for the application of reinsurance treaties and facultative certificates;
• Proficiency with Microsoft Office suite of products including Excel, Word and PowerPoint, etc;
• Exceptional organizational skills to handle multiple projects and proven ability to work independently;
• Ability to adjust priorities and tasks based on business needs;
• Strong oral, written and interpersonal communication skills;
• Must possess ability to express ideas effectively and persuasively and produce error free written documents;
• Ability and willingness to work with others in all departments in an effective and efficient manner to accomplish team and company goals and objectives;
• Successful completion of college degree in Accounting, Actuarial Management, Business Analytics, Business, Administration, Economics, Finance, Legal Studies, Management Information Systems, Risk Management or CPCU.

PHYSICAL REQUIREMENTS

• Must be able to work Full time, 40 hours per week from Monday through Friday.
• In-office position based in Bermuda

Benefits

WHY YOU’LL LOVE WORKING WITH US 

At Relm, we are not just another insurance company – we’re a team of innovators, creators, and collaborators who are redefining what’s possible in the industry. We value each individual’s unique skills and experiences and offer a workplace where creativity, innovation and diversity are at the heart of everything we do. 

We are deeply committed to fostering an inclusive culture where every team member feels valued, supported, and empowered to do their best work. At Relm, you will have the opportunity to grow in your career, play a role in an industry transformation, and contribute to a team that celebrates creativity, collaboration, and innovation. 

WHAT WE OFFER  

• Full Payroll Tax & Social Insurance Coverage: The company covers 100% of your payroll tax and social insurance, ensuring your financial security and peace of mind. 

• Comprehensive Insurance Plans: We provide 100% coverage for your health, dental, and life insurance, keeping you and your loved ones well protected. 

• Generous Pension Contributions: The company contributes 5% of your pensionable earnings, helping you plan and secure your financial future. 

• Paid Time Off (PTO): You will accrue 28 days of Paid Time Off (PTO), giving you the flexibility to take vacation, sick leave, or personal time. 

• Professional Development Opportunities: We invest in your career with training, development programs, and mentorship to help you grow and achieve your professional goals. 

• Travel Benefits: Enjoy travel perks such as commuting and parking benefits to make your daily commute easier and more convenient. 

• Wellness Benefits: Stay healthy and active with wellness perks, including gym memberships and access to exercise classes, designed to support your well-being. 

• Your Voice Matters: Work in an environment where your ideas and opinions are not just heard but valued and crucial to our team’s success. 

• Endless Growth Opportunities: Benefit from a multitude of career growth opportunities, ensuring you have the resources and support to advance within the company. 

• Flexible & Family-Friendly Work Environment: Embrace a hybrid approach to work that provides flexibility and supports a balanced, family-friendly lifestyle. 

At Relm, you won’t just join a company - you’ll be part of a team that’s shaping the future. If you’re ready to make an impact, we’d love to hear from you.