A Career in Financial Services
Insurance, one of the City's oldest activities is about the sharing of risks. It is broadly divided between general insurance and life insurance, providing protection for individuals, firms and other organisations exposed to the risk of financial loss from specified events that may or may not occur.
The risks that insurance companies were exposing themselves to led to the significant growth of the Reinsurance market in the 1960's and by spreading the risk it enabled companies to take on clients whose coverage would normally be to great a burden for one insurer alone to carry. Fundamentally the concept of reinsurance is that other companies in return for part of the premium fee assume part of the insurer's risk.
Hiring Companies
Companies include amongst others AXA Insurance, Prudential, Royal & Sun Alliance, CGNU, Eagle Star, CIS, Legal & General, Willis Coroon, Hiscox, Churchill and XL Capital. Reinsurance companies include companies include amongst others Cologne Re, Swiss Re, General Re, QBE and the Gerling Group.
Employment Opportunities
The insurance industry has changed and is no longer seen as a poor relation to Investment Banking. Salaries have increased to rival banking counterparts and opportunities tend to offer greater variety in terms of transactional exposure, international deals and hands on dealing with a diversity of Business Heads.
