Actuarial Analyst at Assurant in Mumbai, Maharashtra, India

Actuarial Analyst
Location: Mumbai (Aurum QParc)
Actuarial Analyst – Assurant India
The Actuarial Analyst will be responsible for evaluating, underwriting, and managing reinsurance risks in line with the branch's underwriting strategy, risk appetite, and regulatory requirements. The role will support profitable business growth while ensuring compliance with IFSCA regulations, internal underwriting guidelines, and group policies applicable to the Foreign Reinsurance Branch operating as an IFSC Insurance Office (IIO).
Location: GIFT City, Gandhinagar, Gujarat (IFSC)
Key Responsibilities
Assess, evaluate, and approve facultative and treaty reinsurance risks in line with approved underwriting guidelines, delegated authority limits, and risk appetite.
Develop, maintain, and periodically review pricing models, risk selection criteria, underwriting frameworks, and exposure management standards.
Ensure adherence to approved risk appetite, underwriting governance requirements, accumulation controls, and exposure limits.
Work closely with brokers, cedants, and business partners to support business development, client retention, and profitable portfolio growth.
Monitor portfolio performance, loss ratios, claims trends, premium adequacy, and overall underwriting profitability.
Coordinate with actuarial, risk management, and finance teams to assess pricing adequacy, portfolio performance, reserving trends, and capital implications.
Review submissions, exposure data, claims history, and market information to determine appropriate pricing, terms, conditions, and capacity deployment.
Negotiate reinsurance contract terms, coverage conditions, exclusions, and pricing with cedants and intermediaries.
Ensure documentation quality, contract certainty, and compliance with international reinsurance practices, regulatory requirements, and internal policies.
Maintain accurate underwriting records, risk assessments, and management information systems.
Monitor catastrophe exposures, concentration risks, and portfolio accumulations to ensure effective risk management.
Ensure compliance with IFSCA regulations, internal underwriting policies, sanctions requirements, AML obligations, and applicable governance standards applicable to IIO operations.
Provide regular portfolio analysis, underwriting reports, and performance updates to the Principal Officer and parent entity (VSC).
Provide insights and recommendations to the Principal Officer regarding market developments, competitive dynamics, emerging risks, reinsurance pricing trends, and underwriting strategy.
Support regulatory reporting, audits, inspections, and information requests from IFSCA and other relevant authorities.
Build and maintain strong relationships with cedants, brokers, reinsurers, and other market participants to support the branch's strategic objectives.
What are the requirements needed for this position?
Education
Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field
Associate or near Associate of a recognized actuarial body (e.g., SOA, CAS, IFoA, CIA or equivalent).
Experience
Minimum of 8 years of overall experience.
Minimum of 8 years of progressive responsibilities in an actuarial role, including leading projects, processes, and staff.

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