Reserving Senior Specialist/Reserving Actuary

Who Are we?

Al Etihad Cooperative Insurance Company is a public joint-stock company established in the Kingdom of Saudi Arabia under a decision from the Council of Ministers and a royal decree as a cooperative insurance company. The company’s paid-up capital is 500 million Saudi Riyals. The company is an extension of United Insurance Company, which was founded in the Kingdom of Bahrain in 1983 as a foreign company to conduct insurance operations in Saudi Arabia. In 2008, the company was listed for public subscription and was registered in the Saudi Stock Exchange (Tadawul) under the symbol 8170.

The company is subject to the supervision and regulation of the Saudi Insurance Authority and is licensed to operate in all types of insurance, including general insurance, medical insurance, motor insurance, and protection & savings insurance.

The company’s experience and commitment to serving its customers have made United one of the pioneers in the insurance industry in the Kingdom. The company also has a wide network of offices and regional outlets to ensure proximity to its customers across the Kingdom. Additionally, the company has a dedicated team that strives to deliver the highest level of service to its clients.

Qualifications and Requirements:

• Bachelor’s degree in actuarial science, Mathematics, Statistics, or a closely related quantitative discipline.
• Minimum of five years of actuarial experience within a Property and Casualty (P&C) insurance company.
• Associate or Fellow designation from a recognized actuarial professional body.

Key Responsibilities:

• Validating the methodology and assumptions Reserves set by the Appointed Actuary, and recommending changes where necessary.
• Enhancing the existing internal Reserving model to improve its accuracy and reliability.
• Developing ways to capture and store Reserving input/output data in a structure and automated way.
• Managing and coaching a junior member of staff that will assist in fulfilling Reserving duties.
• Working with the Pricing subteam to reflect Reserving implications on technical prices and portfolio monitoring.
• Presenting the outcomes of Reserving analysis to senior management
• Any other duties assigned by the direct manager within the scope of the job.