SVP or VP, Facultative Underwriting

Peak Reinsurance Company Limited (Peak Re or the Company) is a Hong Kong-based global reinsurance company. Since commencing operations in 2012, the Company has grown steadily to rank 27th* among global reinsurance groups in terms of net reinsurance premiums written. For the year ended 31 December 2024, Peak Re reported a reinsurance revenue of USD1.16 billion and a net profit of USD187 million. With total equity of USD1.43 billion as of 31 December 2024, Peak Re is rated A- by AM Best. Peak Re is authorised by the Insurance Authority of Hong Kong under the Insurance Ordinance (Cap. 41). The Company offers both Property & Casualty (P&C) and Life & Health (L&H) reinsurance. It provides innovative and tailored reinsurance, risk and capital management solutions to clients around the world. Fosun International Limited (00656.HK) and Prudential Financial, Inc. own approximately 87% and 13% of Peak Re, respectively, through Peak Reinsurance Holdings Limited.

*S&P Global Ratings Top 40 Global Reinsurers In 2024 And Reinsurers By Country; 2024, S&P Global, 2024.

About the Position:

The role is responsible for underwriting and developing a profitable portfolio of facultative business across Asia Pacific, with responsibility for one or more of the following lines: Property, Engineering, Marine, Casualty and Financial Lines.

The role requires strong technical underwriting expertise, commercial judgement and established market relationships. The incumbent will assess complex risks, determine appropriate pricing and terms, deploy capacity within delegated authority, and develop business through wholesale brokers, intermediaries and cedants.

Key Responsibilities

• Underwrite and manage complex facultative risks across Asia Pacific within agreed underwriting guidelines and authority.
• Assess exposures, risk quality, claims experience, coverage requirements, pricing, terms and conditions, and portfolio impact.
• Structure and price complex or high-value risks, applying appropriate technical pricing and underwriting methodologies.
• Manage the portfolio with a focus on underwriting profitability, rate adequacy, risk selection, accumulation management and sustainable growth.
• Develop and maintain strong relationships with wholesale brokers, intermediaries and cedants across key APAC markets.
• Identify and originate profitable new and renewal business aligned with the Company's risk appetite and underwriting strategy.
• Lead negotiations on complex placements while maintaining appropriate underwriting discipline.
• Monitor portfolio performance, claims and loss trends, market developments, emerging risks and concentration exposures.
• Contribute to the development and execution of regional facultative underwriting and portfolio strategies.
• Collaborate with Distribution, Pricing, Catastrophe Modelling, Claims and other relevant functions on complex risks and portfolio management.
• Act as a senior technical resource and contribute to enhancements in underwriting practices, tools and processes.

Scope of Underwriting

Depending on the incumbent's area of expertise, the portfolio may include:

• Property & Engineering: complex commercial and industrial property and engineering risks.
• Marine: Cargo, Hull & Machinery, Marine Liability and Logistics.
• Casualty & Financial Lines: General Liability, Professional Indemnity, Directors & Officers, Financial Institutions, Employment Practices Liability and other specialty risks.

Job Requirements

• Bachelor's degree or equivalent; relevant insurance qualifications such as CII, ANZIIF or equivalent are preferred.
• Significant underwriting experience in facultative reinsurance, specialty or commercial insurance, with strong expertise in at least one of Property, Engineering, Marine, Casualty or Financial Lines.
• Proven track record of underwriting complex and high-value risks and managing a profitable portfolio.
• Strong technical knowledge of risk assessment, pricing, coverage structuring and portfolio management.
• Established relationships with wholesale/reinsurance brokers, intermediaries and/or cedants across Asia Pacific.
• Strong commercial judgement with the ability to balance growth opportunities with underwriting profitability and risk appetite.
• Ability to make independent underwriting decisions within delegated authority.
• Strong negotiation, communication, analytical and stakeholder-management skills.
• Ability to operate effectively across different APAC markets and cultures (e.g. Southeast Asia, Korea, Japan, Taiwan and/or Australia).
• The role may be based in either Singapore or Hong Kong, depending on the suitability of the candidate.