Re-sume - Why reinsurance is looking outside for top talent.

(From Reinsurance)

There are several exciting and rewarding jobs on offer in the reinsurance industry, and many highly experienced people who could fill them - so why are companies now sourcing talent from outside the industry?

Senior management from various industries are tending to search outside their own industry to find the talent they require in order to drive their businesses forward. This trend is increasingly evident in the insurance and reinsurance profession, which begs the questions, why has the skill set changed, and what can people from within the industry do to increase their competitive advantage for the top positions?

Some obvious reasons for the need for a broader array of skills are: the closer link with capital markets; the move from transactional toward a more consultative approach to business; and increased regulation.

There is an existing recognition within the insurance and reinsurance sectors that individuals from an investment banking background have a desirable skill set and can be highly effective in certain roles. The attraction to (re)insurance for people from a banking background is also more widely discussed and recognised.

But are investment bankers flocking to join the (re)insurance sector? No, the wheelers and dealers in the City are not yet quite so ready to forgo their huge bonuses in order to mix it with the reinsurers. However, some skill sets that have been in the investment banks for years are transferable and greatly needed by the (re)insurance industry.

Desirable skill sets