Lead Actuary - Commercial Lines Reserving

Mumbai Permanent View Job Description
The Lead Actuary - Commercial Lines Reserving will manage the reserving process, ensuring accurate analysis and reporting to support strategic decision-making within the insurance sector. This role is based in Mumbai and requires a detail-oriented professional with strong technical expertise in actuarial practices.
  • Competitive Pay
  • Opportunity to build things from scratch

About Our Client

The employer is a large organization operating within the financial services and insurance sector. They are known for offering structured and growth-oriented career opportunities within a professional work environment.

Job Description

● Own key actuarial judgments, recommendations, and approvals within the assigned scope, escalating material issues and risks as appropriate.

● Perform end to end reserving activities for relevant lines of business, including premium and claims liability valuations

● Lead regulatory and statutory reserving activities, including calculation and analysis of IBNR, reserves, and key actuarial assumptions, and preparation of all regulatory submissions such as IBNR and Financial Condition Reports (FCR)

● Build, maintain, and review reserving models using ResQ reserving software or similar reserving systems

● Use Python or SAS to support actuarial analysis, model validation, and process automation

● Participates in broader business engagements including P&C business activities, review of business plan assumptions, and partnering with senior management on topics as required.

● Supports the establishment and operation of Reserving and Technical Committees in accordance with group requirements.

● Advises on reinsurance structures and supports the assessment of reinsurance costs, including participation in reinsurance discussions and negotiations as appropriate.

● Apply actuarial methodologies to assess reserve adequacy, experience trends, and emerging risks

● Work closely with Finance, Risk, Underwriting, and Business teams to explain reserve movements, assumptions, and results

● Support audits, actuarial reviews, and governance processes

● Product and actuarial pricing experience in the past with experience in controlling and managing actuarial risk within products is a good to have.

The Successful Applicant

● 6-10 years of work experience in P&C reserving

● Demonstrated ability to lead actuarial topics independently and operate effectively with limited supervision.

● Hands on experience with ResQ reserving software or similar reserving systems

● Strong experience in Python or SAS

● Prior experience working with insurance companies

● Extensive regulatory reporting experience, including IBNR and Financial Condition Reports (FCR)

● 6-7 actuarial exams cleared (out of 13) from IAI (India) or IFoA (UK), (or Singapore / Paris 7 pathway is preferred)

What's on Offer

  • Competitive salary based on experience and expertise.
  • Comprehensive benefits package, including health and wellness programs.
  • Opportunities for career progression within a large organization in the financial services sector.
  • Exposure to challenging projects in the insurance industry, fostering professional growth.
Quote job ref
JN-052026-7019013

Job summary

Function
Insurance
Sub Sector
Actuarial
What is your area of specialisation?
Insurance
Location
Mumbai
Job Type
Permanent
Job Reference
JN-052026-7019013

Diversity & Inclusion at Michael Page

We don't just accept difference - we celebrate it. We encourage applicants from all backgrounds to apply for this role and are committed to building inclusive, diverse workplaces where everyone can thrive. If you require any support or reasonable adjustments during the recruitment process, please let us know.