Head of Reinsurance (UK Protection)

Company Description

Legal & General (L&G) is a leading UK financial services group and major global investor. The role can be based out of London, Hove or Cardiff. We’ve been safeguarding people’s financial futures since 1836, and strive to build a better society while improving the lives of our customers and creating value for shareholders.

We are one of the world’s largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income.

L&G Retail supports the savings, protection and retirement needs of around 14 million people through our portfolio of retail and workplace businesses. Our Retail division helps people enjoy a more colourful retirement, both directly and through their employers, including Lifetime Mortgages, Retirement Interest Only Mortgages and financial advice on our range of lending products.

We are the UK’s number one individual life insurer and also provide Group Protection products for employers, helping people to plan for the unexpected. We support home buying through our Mortgage Club, the UK’s largest, and our award-winning Surveying Services team.

Joining us means helping create brighter financial futures for all our customers.

Job Description

We are seeking a dynamic and experienced leader to head our newly combined UK Protection Reinsurance function, encompassing both Retail and Group protection businesses. This role involves collaborating with Commercial Directors to set the strategy and taking full ownership and responsibility for delivering the reinsurance strategy across these businesses.

You will interact across the wider L&G Group to maximise commercial value for the UK Protection businesses within approved risk tolerance.

What You'll Be Doing:

• Leading the design and execution of reinsurance strategy across the UK Protection business.
• Maximising commercial value, controlling risk exposure, and ensuring efficient capital usage.
• Interacting with and influencing other reinsurance teams to implement a groupwide reinsurance engagement strategy.
• Deputising for Commercial Directors and representing L&G at industry events.
• Overseeing stakeholder engagement activities to maximise commercial value and control reinsurance decisions.
• Managing the UK Protection reinsurance team and ensuring optimal terms and benefits with reinsurers.
• Challenging the Reinsurance Optimisation team to stay updated with market and pricing science developments.
• Overseeing the implementation of monitoring and controls to ensure data integrity and accurate reinsurance accounting.

What We're Looking For:

• Proven leadership experience in reinsurance or a related field.
• Strong strategic thinking and ability to set and execute reinsurance strategies.
• Excellent stakeholder management and influencing skills.
• Ability to represent the company at industry events and engage with key external stakeholders.
• Experience in managing teams and ensuring consistent application of management discretion.
• Knowledge of market and pricing science developments in reinsurance.
• Strong understanding of portfolio risk and profitability.
• Ability to identify, document, and manage risks and issues related to reinsurance.

Qualifications

• Qualified Actuary with understanding of Actuarial techniques for analysing experience.
• Strong knowledge of reinsurance frameworks for Retail and Group protection products and current reinsurance market dynamics.
• Appreciation of how assumption, pricing and reinsurance recommendations will impact core financial metrics.
• Experience of managing reinsurance relationships (internal & external) to maximise commercial results with strong interpersonal skills.
• Balancing strategic goals with immediate priorities, setting clear targets to achieve progress against both.
• Taking ownership, delivering with drive & enthusiasm.
• Excellent people-management and leadership skills to enable the team to take ownership and deliver with drive & enthusiasm.
• Strong stakeholder management skills both internal and external.

Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you. Here are some of the benefits we offer:

• The opportunity to participate in our annual, performance-related bonus plan and valuable share schemes.
• Generous pension contribution.
• Life assurance.
• Healthcare Plan (permanent employees only).
• At least 25 days holiday, plus public holidays, 26 days after 2 years’ service. There’s also the option to buy and sell holiday.
• Competitive family leave.
• Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice (permanent employees only).
• There are many discounts we offer – both for our own products and at a range of high street stores and online.
• Our offices are great spaces to connect and collaborate and have your wellbeing at the heart.