The company specialises in the acquisition (or via Reinsurance structures) management of discontinued insurance and reinsurance portfolios.

Reporting to the Head of Reserving and Capital, this is an outstanding opportunity for a qualified actuary to fill a core role within a growing Lloyd’s managing agency.

The role holder will be expected to manage delivery of the reserving analyses used to set syndicate reserves, including preparation of materials for the syndicate reserving committee. As the reserving team leader, the role holder will also be involved in a wide range of other activities including supporting parameterisation and validation of the capital model and support for due diligence and pricing of new deals. The role has potential to grow as the scale of the syndicate increases through assumption of new books of business.

The company offers hybrid working, with the successful applicant expected to attend the London office approximately 40% of the time, or more should business requirements dictate.


Key Responsibilities
  1. Quarterly reserving process (60%)
    • Oversee the data extraction processes for premiums, claims, and reinsurance information for use in reserve modelling
    • Manage updates to the reserve models and reserve exhibits on a timely basis to help the management decide on reserve levels, including:
    • Liaison with Finance, Claims, Underwriting and Reinsurance teams
    • Preparation of ResCo papers
    • Presentations to Executive and ResCo
    • Update Solvency II technical provisions & US Trust Fund reserves
    • Estimation of Reserving Risk
    • Computation of reinsurance recovery rates
    • Calculate insurance cash-flows
    • Oversee delivery of monthly run-off MI including actual vs expected reserve run-off analyses
    • Assist in liaising with third party stakeholders such as auditors, independent actuaries and
    • Lloyd’s MRC department.


  1. Investigation, analysis, due diligence (20%)
    • Perform reserve deep dive reviews as required
    • Benchmarking of market data
    • Support due diligence analysis of target deal portfolios as required
    • Support of onboarding of deals including integration of data into the data warehouse.


  1. Internal model (20%)
    • Assist the capital model team in maintaining, parameterising, running, and enhancing the capital model
    • Analyse historical syndicate and market data to develop model parameters and calibrate inputs to the capital model
    • Support the capital model validation process through test design, performance, and documentation of test results.


Skills and experience profile
  • Qualified Actuary
  • Proficient in use of ResQ, Excel and macros
  • Organized with an ability to work to tight deadlines
  • Previous London market/Lloyd’s reserving experience beneficial
  • Legacy experience beneficial


Company’s values
  • Bold “We are ambitious and passionate about our future”
  • Expert “We use our specialisms and expertise to get things done”
  • Innovative “We embrace change and continually seek to improve the way we do business”
  • Accountable “We are outcome focused and deliver on promises”
  • Honourable “We act with integrity and aim to do the right thing”
  • Inclusive “We encourage participation and value all contributions”


Galejay and all its clients are inclusive employers and prides itself on the main values of honesty and integrity. If you have these qualities and wish to apply, please send your CV to Gary Forster Managing Director, at gforster@galejay-recruitment.com