Risk is a shared concern in our daily work.
We use statistical techniques and mathematical skills
In the international context of our daily work within the Group, we use statistical analysis and mathematics to assess the probability of an event and its financial consequences; we harness our programming skills in the automation of work processes and calculations, and work as a team to push the boundaries of the reinsurance business, which is not well-known among the general public.
We monitor macroeconomic indicators and developments in financial markets, and assess possible impacts of certain risks on Group companies.
Our fortes
Most of the employees in our departments are mathematicians and economists. The common thread that binds us is our eagerness to take on complex problems and numbers, and our passion to learn and share our knowledge.
We develop our own models for calculating underwriting and financial risks in Group companies
We shape business decisions by preparing profitability forecasts
We develop internal methodologies and software tools for regulatory calculations
We analyse risks and evaluate liabilities from (re)insurance business
We monitor and report risks and capital adequacy
We manage assets and liabilities
We build models for the evaluation of reinsurance treaties and the analysis of reinsurance strategies
We set up databases and automate reporting
Meet some of our team
See what our employees think about us
Tim Kern
team leader, Risk management & asset-liabilities management department
Why do you work at Sava Re?
You have to work somewhere, and Sava Re is more than probably one of the best (of many) choices. I am lucky to have found, by way of experience, ambition and chance, a job in a good company where I never feel that I am stuck in a rut, but am always moving forward.
Describe your career briefly
When I returned from the student exchange programme in my second year of postgraduate study in financial mathematics in Zürich, I had only two courses (and a master’s thesis) left to do, so I decided it was time to gain some real work experience – I had a lot of time on my hands. I chose Sava Re for my first job interview; it went well, and in a month I started my student work experience. This gradually evolved into the regular job that I still enjoy.
What is your job at Sava Re?
I am the team leader of the data processes and reporting team at the Risk Management & Asset-Liabilities Management Department. The position has somehow evolved with me – I began by reporting QRT forms for the company and the Group, which involved collecting data from all departments and sorting it appropriately. This collection and sorting of data for reporting gradually expanded into a team project of setting up a data warehouse for Solvency 2 purposes (automated reporting, BI-reports, data analysis, database editing, etc.), concern for the quality of data across the Company/Group and management of Sava Re’s umbrella DWH project.
What do you enjoy most about your work?
I feel like there’s always something new going on, but at the same time we are successfully improving the old. I also regularly build my expertise and soft skills, which I really enjoy.
How would you describe your team/colleagues?
I can say that we are a great team and we enjoy going out together on occasion, to hang out or get a drink. We are very relaxed with each other, so we don’t hesitate to ask for help or advice, when necessary. It is fair to say that we have really come together as a team. I guess this is also thanks to various activities that we have going on, such as volunteer day, active health day, picnics, parties, training programmes and sports.
What would be your advice to someone who wants to pursue a career in this area?
I hear it is not such a big problem to get a job any more, but it is still not easy to find one where you feel good and accepted every day. Ideal work provides a good blend of development projects and regular work, and a good work-life balance.
Blažka Koroša
SPECIALIST, GROUP Actuarial affairs
Why do you work at Sava Re?
I work at Sava Re because I like it here. We get on really well. I have a good work schedule and work environment, the possibility to work from home, the work is interesting and the salary is good. I like that there aren’t too many of us and that people working in different departments know each other, but at the same time we are still a big company with an established reputation, both in Slovenia and beyond.
Describe your career briefly
I’ve had a rather straightforward career path, with no detours, stops or byways. I applied for an open position at Sava Re as a maths student at the recommendation of my classmate. I got a position at the same department I am working in today. Before coming here, I didn’t even know what reinsurance was, and I couldn’t imagine how I fit in as a mathematician. I needn’t have worried. There are quite a few of us mathematicians here. I’ve since learned about reinsurance and am still learning, and math skills really come in handy on a daily basis.
What is your job at Sava Re?
I work in the area of modelling, where we build different models specific to our company (to assess underwriting and market risk, prepare profitability forecasts and analysis of reinsurance strategies...). We critically evaluate the outcomes of the models and explain them to others in easy-to-understand terms. We deal with large quantities of data in order to derive useful estimates and forecasts using various mathematical, probabilistic and statistical methods. And while we do use also already developed and published methodologies, if they are available, we still have to do a lot of research and think everything through before we set something up, so it is a very innovative and interesting job.
What do you enjoy most about your work?
The most important thing for me is that my daily work is anything but tedious, that it has to do with maths and that we mostly work as a team. It’s really rewarding watching the models grow before our eyes and generate increasingly many usable estimates and forecasts. I like the fact that we are an international company, that sometimes I have to use English and that we attend international seminars, where we have the opportunity to see how (re)insurance business is done elsewhere in the world.
How would you describe your team/colleagues?
My team are really nice, fun, fair, hard-working and, most importantly, mathematicians. I think we get on really well. We work in a responsible and relaxed atmosphere – we know when we can have fun and have a coffee, and when it’s time for serious business. Other colleagues are respectful as well – they are always there if you have a question and listen when we have a work-related request.
What would be your advice to someone who wants to pursue a career in this area?
Try building your career here.
Šejla Husić
actuary, GROUP Actuarial affairs
Why do you work at Sava Re?
The thing that worried me the most when I was a financial mathematics student was that I wouldn’t be able to get a job that would allow me to utilise the knowledge that I had gained. My worries dissolved when I came here. Another advantage is that the company is a reinsurer, and there are always other interesting challenges that require prompt, statistical and technical handling. Sometimes my friends wonder if it isn’t time for me to change jobs, and are always surprised by my answer. I tell them that it would be difficult to find a better job in Slovenia for my qualifications, one that would offer a better work environment, stability and opportunities to learn. Sava Re also impressed me with its openness to employees from other countries, irrespective of their language or citizenship.
Describe your career briefly
My career path started right here at Sava Re, in actuarial affairs. This was the first job application I had ever submitted, followed by the first job interview and then the job. I actually began as a student when I was writing my thesis. I started under the mentorship of more experienced actuaries, who also supported me in completing my studies. I had a fantastic co-mentor here for my master’s thesis. He is retired now, but he had worked with Sava Re and was a true encyclopaedia of insurance and reinsurance, which allowed me to write a master’s thesis on the subject of reinsurance. Having successfully defended my thesis, I completed my traineeship examination and became a permanent employee.
What is your job at Sava Re?
That’s always a difficult question for an actuary. Sometimes I say that we do everything necessary to evaluate one of the key balance sheet categories, technical provisions. This involves a lot of work, in the first place adapting to new standards, regulatory and IT requirements and various developments in the world, because as a reinsurer we operate in a very large part of the international market. This inevitably requires developing your data and analytical skills.
What do you enjoy most about your work?
Actuaries work on various projects, and our work involves collaborating with other departments. It is really rewarding to see how a project progresses also because of my contribution. Another advantage is that I can learn from my colleagues and pass on my knowledge to younger colleagues. I would also like to point out our cooperation with subsidiaries, which brings an opportunity to learn about other insurance markets in more detail. Not to mention the adrenaline that comes with the work, as we are constantly under regulatory deadlines, so there is never an idle moment.
How would you describe your team/colleagues?
My colleagues are definitely extremely generous in sharing their knowledge. We respect and work well with each other.
What would be your advice to someone who wants to pursue a career in this area?
Even though this is my first job, so I don’t know what it is like to work in insurance, I’d dare say that if you want to work as an actuary, try reinsurance. I’ve already mentioned why I love my work, but another reason is that reinsurance also involves the logic of the insurance business. I would definitely recommend studying mathematics or financial mathematics, because you develop a way of reasoning that will come in handy in actuarial work.
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