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Recent graduates and the insurance sector

Recent graduates and the insurance sector

Recent graduates and the insurance sector – A real-life case study

RenaissanceRe (RenRe) is one of the world’s largest and most successful catastrophe reinsurers, with assets reaching £6.98bn in 2014. It is a global provider with offices in many countries and is a leading provider of casualty and specialty reinsurance across a wide range of products. It participates selectively in the insurance market through RenaissanceRe Syndicate 1458 at Lloyd’s of London. In addition, RenRe creates and manages joint ventures that enable others to partner and invest, such as DaVinci Reinsurance Ltd. and Top Layer Reinsurance Ltd.

RenaissanceRe’s management expertise, disciplined underwriting approach, sophisticated risk models and responsive client service have earned it a reputation for excellence throughout the sector.

Working in RenRe – Testimonial

Eoin Conway started working as an analyst on the Direct and Facultative (D&F) team at RenRe with no previous experience or knowledge about insurance and risk management. Although he felt the situation was a bit ‘sink or swim’ at first, he deeply enjoys his job and the logical thought that comes with it.

As an analyst, he spends the majority of the day looking at deals and analysing the relevant exposure in order to build out a representation of the risk to the exposure from the company’s point of view. His work helps underwriters gain further perspective on deals and make an underwriting decision in regards to the deal.

According to Eoin, the essential skills to be a good analyst are problem-solving and logical thinking, as well as honest and collaborative teamwork.

What attracted Eoin to a career in insurance? The relaxed vibe and the atmosphere in the interview at RenRe were different from the rest of the interviews in business/finance-related sectors. Six months later, he is still enjoying the people with whom he works and his job, which has been a completely new challenge for him.

What are the benefits for RenRe in hiring undergraduates?

Harriet Friend is the HR Officer at RenRe, and she recruited Eoin Conway six months ago through Caspar Bartington, Relationship Manager at the CII, and the Discover Risk initiative.

According to Harriet, there are five key benefits of hiring graduates:

1. Fresh perspective, free of taught routine and robust processes

2. Return on investment as graduates become dedicated employees, repaying the opportunity with high-quality work

3. Solid skillset development and specialist technical knowledge cultivated during their study

4. Motivation, which allows their advanced capacity for learning to allow an organisation to meet its goals

5. Succession planning, as their development through the organisation provides an authentic career path to senior level roles.

Eoin is a good example of all of these, as Harriet praises his incredible aptitude for problem-solving and logical thinking, both paramount skills in the role he holds. He also has proven a high ability to work both professionally and collaboratively, mirroring the standards set by those in more senior level roles.

Harriet, as the HR Officer at RenRe, recommends any company to provide graduate schemes as a way of staffing, as the standard of candidates at this level is very high and the scope of skills and abilities available offers an organisation many options to consider placement in a variety of departments. According to Harriet, every graduate recruited at RenRe symbolises a success story that helps support this approach.

If you are an undergraduate or a recent graduate looking for an opportunity, join the CII through the free Discover membership scheme and start building your network of contacts while receiving the best opportunities in the sector directly to your inbox.

Click here for a complete description of the benefits you can get.

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