Underwriting Summer Intern
by XL Catlin
Job Details
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Vacancy Description
Catlin Insurance is a global specialist property/casualty insurer and reinsurer underwriting more than 30 classes of business including kidnap & ransom, terrorism, energy and aerospace. We work closely with our brokers and their clients to provide imaginative and effective risk management solutions.
Headquartered in Bermuda and with a team of over 2,400 employees globally we have a presence in every major insurance market including London, Europe, Bermuda, the United States & Latin America, Asia Pacific and Canada.
Whilst our industry and company may not be as well-known as many other banking and finance institutions, we can guarantee that if you take the time to find out more, our proposition will be every bit as compelling.
Our Summer Internship Programme
The Catlin Summer Internship Programme is an exciting opportunity for you to spend 8 weeks with us to gain an invaluable insight into our business as well as the insurance industry.
Open to undergraduates in their penultimate year at university, the programme combines on-the-job learning and formal development and has been designed to enable successful candidates to gain valuable work experience and transferable skills which will help inform future career decisions.
What does the Underwriting function do?
Working in an underwriting team at Catlin, a leading global insurer, you will be on the front line in helping to provide security and peace of mind to people affected by a wide spectrum of risks. Whether you are looking at construction projects or space satellites, political risk or professional liability, aviation cover or hurricane protection, each risk will require a different approach.
Essentially, it is an underwriter’s job to decide whether to insure a risk, on what terms, and for what premium. A number of analytical skills are required to make these decisions, as well as excellent client-facing skills and technical expertise.
Catlin has a network of over 50 international offices and will provide you with global exposure to risks of varying magnitude and value. Working in Lloyd’s of London, the world’s specialist insurance market, your job will be to help our clients protect their interests by putting together the right insurance policy for their needs.
What will you do?
As Summer Intern in Underwriting, you will:
- Have the opportunity to experience working along some of our underwriters and see how to assess and evaluate risks presented to us by brokers;
- Experience the face-to-face negotiation that takes place between broker and underwriter;
- See first-hand all aspects of managing a portfolio;
- Gain an appreciation of management reporting and the importance of strategic planning;
- Work with our underwriting assistants to support them in some of their daily tasks;
- Undertake specific tasks to gain experience on the way we evaluate risk.
Who are we looking for?
As an underwriter it is vital to be able to communicate effectively. This applies to interactions with your underwriting team, your colleagues in other areas of the business, as well as in negotiations and discussions with brokers at Lloyd’s.
We are looking for resourceful problem-solvers and analytical thinkers who can demonstrate adaptability and accuracy, along with sharp numerical and logical skills.
This challenging and demanding role requires the ability to perform in a pressurised environment, especially during the busy renewal seasons.
You will also be required to display each of the Catlin values in your day-to-day work: teamwork, integrity, dignity, accountability; and transparency.
Academic requirements
- Must expect to achieve a 2:2 or above in your undergraduate degree
- Minimum of 280 UCAS points in your top three A-levels (excluding General Studies) or equivalent
Application process
- Online registration and online application form
- Online tests
- Telephone interview
- Assessment centre
The deadline for submission of your online application form for this scheme is 16th February 2015 at 9am, however, to avoid disappointment, we advise you apply as early as possible as we may close schemes early if we receive enough applications.
Please note that you must have successfully passed all online tests by 2nd March 2015 at 5pm.
Summer Internship start date: Monday 29th June 2015.
How to apply
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