In short, reinsurance means “insurance for insurance companies” and involves working with interesting people from different parts of the world.
We analyse markets and work with partners.
Like any job, there is also routine in our business, but in our case it is far more exciting, because you are constantly networking with the world. You expand your horizons and learn about the specifics of foreign economies, the impacts of global changes (climate change, economic developments...) as well as cultural diversity and the multitude of different world views. This is the only way you can be good at what you do. If you are well versed in computation and enjoy travelling, you are quick on your feet at work.
The most common things an underwriter does
There are periods when there is simply too much to do in a day, and deadlines are looming. This is where a good team plays a key role in relieving the pressure and making the work more enjoyable.
Analysis of insurers’ portfolios, to determine the exposure of reinsurance contracts
Monitoring of reinsurance contracts already concluded with partners
Business travel, which mainly involves networking with business partners
Attendance of training courses and seminars organised by other insurers across the world
Meet some of our team
See what our employees think about us
Imre Horvath
head of underwriting, Reinsurance
Why do you work at Sava Re?
I was working in Hungary when, out of the blue, I received a call from a Sava Re management board member responsible for reinsurance. We had met two years before at a summer seminar, which Sava Re organises every year. I guess they must have thought I would fit in with the team. When I asked them what I could contribute with my poor knowledge of reinsurance, they said they needed a specialist in motor vehicle liability insurance and they counted on me.
Describe your career briefly
I was a non-life actuary all my life. I did the standard job of a non-life actuary like pricing, reserving and as time went by more and more reporting. In my last job prior to Sava, I had the opportunity to get involved in product development and business decision-making as well as reinsurance. Frankly, I enjoyed the new responsibilities more than the number-related ones, so when the opportunity came, I was happy to give it a try to do just that. At Sava I started as a treaty underwriter and then I picked up some reporting tasks, so I was promoted.
What is your job at Sava Re?
I work as a treaty underwriter responsible for certain markets and some kind of middle manager in our team. Being a treaty underwriter at Sava is quite a complex job compared to our peers. As our team is small and our structure is flat, we manage the underwriting process along most part of the way. We set the strategy and travel intensively doing the necessary business intelligence and marketing. When offers arrive, we analyse them and decide to take a share or just decline. We are involved in legal issues as it is our responsibility to be familiar with the terms and conditions. If a loss happens, we are also involved in representing our best interests.
What do you enjoy most about your work?
I seriously think that our job is probably the most exciting one in the insurance industry in general. We have everything – a blend of sales, marketing, analytics and claims resolution, with the added benefit of travel and socialising. Our work requires ongoing interaction, conversations, and sometimes very complex justifications that push you out of your comfort zone. It can be stressful, but you also learn a lot. We are responsible for our decisions and it gives us a lot of freedom, which is hard to come by nowadays. Honestly, I think that 99% of people would envy our jobs if they knew they existed.
How would you describe your team/colleagues?
The atmosphere in this company is really nice. In general, Slovenians are very easy to work with, because they are hard-working and frank.
What would be your advice to someone who wants to pursue a career in this area?
Our team is made up of diverse backgrounds, and they all fit very well. Mathematician, economist, political scientist, environmental scientist etc. Social skills are important to develop the necessary connections to channel the business, and analytical ones are helpful in the underwriting procedure. A good tolerance of stress comes in handy, and you need to accept that the end-of-year holiday season is basically non-existent. In exchange you are offered to see the world, socialise in various cultures and do a diverse job.
Blaž Barič
specialist, Reinsurance
Why do you work at Sava Re?
Having lived and worked abroad for years it was time to come back to Slovenia, where I still wanted to pursue a career in insurance. Through the interviews with Sava Re, I soon saw an excellent opportunity for collaboration, and it turned out that the feeling was mutual. During the recruitment process, I had a good feeling about the opportunity I was given, and I saw that I would be able to use my knowledge and find a platform for future development in the company.
Describe your career briefly
My first encounter with the reinsurance industry was in 2013 when I became an intern with the Willis Re reinsurance broker in London and subsequently their regular employee. At the time, I worked in analytics for the development of catastrophe models to calculate insured losses. After a few years, I joined another reinsurance broking business, Guy Carpenter, where I also worked in analytics, except that this time the focus was on working with clients. Later I moved to Madrid with the same company. In addition to my work in the English market, I also cooperated with the Spanish team and several local clients.
What is your job at Sava Re?
I work at the international reinsurance business centre and as an underwriter I am responsible for Northern European, Central American and Sub-Saharan markets. My department works in the global market, and we seek and analyse opportunities or partners for reinsurance coverage and portfolio development outside Sava Re.
What do you enjoy most about your work?
This would be the dynamics of our business and the opportunity to respond to a wide range of social and business risks, being part of the financial system with a direct impact on people, and the global aspect of our work. The latter mainly because it means living abroad and meeting existing and prospective future partners. I feel at home in the reinsurance industry in general because it combines technical and natural sciences with the humanities.
How would you describe your team/colleagues?
My team brings together closely-knit, fun and talented group of people who work well together and help and learn from each other. I enjoy their company and love coming to the office because of them – I think that says it all.
What would be your advice to someone who wants to pursue a career in this area?
Seize the opportunity, if you can. A career in this industry offers an opportunity to those who are interested in the world around them, people who are curious and have a desire to learn. It also involves working with people, so communication skills and team work are a must. But most of all, you need to keep your eyes open, because there are plenty of opportunities to update and build your knowledge in different areas.
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