Pricing Transformation Actuary
About the job
- Experience developing, enhancing or supporting pricing models, ideally in insurance pricing or a related analytical subject area.
- Strong analytical and problem-solving skills, with the ability to work with pricing data and draw practical conclusions.
- Proficiency in at least one coding language, with transferable skills to learn Python, and experience using code beyond basic Excel capabilities in a work context or personal projects.
- Ability to engage effectively with underwriters and business partners, understand their priorities, and translate them into practical model improvements.
- Clear communication skills, including the ability to explain technical concepts in plain language.
- Ability to collaborate effectively with senior Pricing Transformation specialists, actuaries, and technical colleagues.
- Develop, deliver, and maintain pricing frameworks that assist underwriting and portfolio decision-making.
- Work with business partner actuaries and underwriting to understand pricing challenges and translate requirements into practical solutions.
- Own specific pricing models, model enhancements, or components of the Pricing Transformation roadmap.
- Develop and improve pricing models on the Hyperexponential platform, supported by Excel, analytical tooling, and appropriate technologies.
- Analyze pricing data and develop model analytics to evaluate model performance, identify areas for improvement, and support calibration activities.
- Support calibration, testing, validation, documentation, and ongoing enhancement of pricing models.
- Collaborate with Portfolio Management, Data Analytics & Insights, the AI Centre of Enablement, Change & Delivery, and IT to support integrated business solutions.
- Identify opportunities to improve pricing capabilities, operational practices, and underwriting outcomes through better use of data, analytics, and technology.
- Use AI-enabled tools and modern ways of working to improve productivity, insight generation, and delivery effectiveness.
- Provide knowledge sharing, develop best practices, and support graduates and junior colleagues where appropriate.
- Familiarity with Hyperexponential or similar pricing platforms.
- Exposure to actuarial work or study demonstrating insurance knowledge; no specific level of actuarial exam passes is required.
- Coding literacy or experience with analytical technologies, including Python knowledge to accelerate adoption.
- Experience working with coders, developers, or technical specialists to deliver analytical or technology-enabled solutions.
- Experience supporting transformation, operational improvement, or technology-enabled change initiatives.
- Interest in artificial intelligence, automation, and modern analytical tooling.
About the company
Markel Group operates as a financial holding company with a three-engine model: specialty insurance, investments, and Markel Ventures (a portfolio of non-insurance businesses). Specialty insurance focuses on hard-to-place or niche risks, underwriting and managing risk through its insurance subsidiaries. Profits from the insurance businesses are reinvested into investments and into acquiring and holding profitable non-insurance companies, creating a diversified, resilient enterprise. The group’s investment engine uses generated earnings to fund external acquisitions and capital growth, while Markel Ventures builds a broad portfolio of long-term holdings in various industries. What sets Markel apart is its deliberate diversification across three connected engines and a long-term, capital-accumulation approach known as the
Company Size
51-200
Company Stage
Post IPO Equity
Headquarters
Glen Allen, Virginia
Founded
1930
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Simplify's Take
What believers are saying
- Q2 2026 combined ratio stayed in the low 90s, showing underwriting discipline.
- Markel repurchased $237 million in Q2 2026, funded entirely by earnings.
- AI partnerships with hyperexponential and Jump AI are automating Canadian underwriting workflows.
What critics are saying
- JANA's breakup campaign risks a forced Markel Ventures divestiture and management distraction.
- Q2 2026 included a $205 million State National reserve charge from a bankrupt capacity provider.
- If losses persist, Markel's conglomerate premium collapses into breakup pressure.
What makes Markel Group unique
- Markel’s three-engine model pairs specialty insurance, investments, and Markel Ventures.
- It targets hard-to-place risks like fine art, construction, and casualty.
- Patient capital lets Thomas Gayner hold businesses through cycles, unlike quarterly-focused insurers.
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Benefits
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
401(k) Company Match
Employee Stock Purchase Plan
Paid Vacation
Paid Holidays
Parental Leave
Flexible Work Hours
Remote Work Options
Hybrid Work Options
Company News
Markel Insurance has launched its Chemical, Oil & Gas related Energy Property offering for small to midsize US-domiciled businesses. The new CORE product provides tailored cover for property damage, business interruption, and equipment breakdown, with protection against natural catastrophe exposures including flood, windstorm, and earthquake, offering limits up to $50 million. Candice Walker has been appointed Head of First-Party Energy to lead the new offering's development. Walker brings over 20 years of property insurance experience and has been with Markel since 2015. Michael McClain joins as Senior Underwriter – Energy, reporting to Walker from Texas. McClain previously served as Manager of Technical Operations at Tomorrow RNG, an Enbridge subsidiary, and held senior roles at Aethon Energy managing multimillion-dollar oil and gas infrastructure projects. The offering strengthens Markel's US First-Party Energy proposition across chemical, oil, gas, and broader energy sectors.
Markel Group reported Q2 revenue of $4.02 billion, beating analyst estimates but remaining flat year-on-year. However, adjusted earnings per share of $19.79 missed expectations by 35.3%, falling short of the $30.57 consensus. The profit shortfall stemmed from a $205 million reserve charge related to a credit loss in the State National business — the first such loss in over 40 years. CEO Thomas Gayner attributed this to "a unique and unfortunate confluence of events". Despite the charge, core insurance operations showed improvement, with a combined ratio in the low 90s and 10% growth in continuing business lines. Markel is investing heavily in artificial intelligence to enhance underwriting efficiency. The company launched Cortex, a new unit for hard-to-place casualty risks, and deployed AI tools across six business lines. The insurer repurchased $237 million in shares during the quarter, funded by earnings.
Markel Group reported Q2 2026 revenue of $4.02 billion, beating analyst estimates of $3.97 billion by 1.2%, though sales remained flat year on year. The specialty insurance company's GAAP profit of $92.76 per share exceeded consensus estimates by 13.9%. Net premiums earned reached $2.07 billion, surpassing expectations of $2.03 billion despite a 3.3% year-on-year decline. The combined ratio came in at 93%, slightly missing the analyst estimate of 92.1%. Chief executive Tom Gayner highlighted improved insurance underwriting and strong cash flow generation in the first half of 2026. The company continued share repurchases funded from net earnings. Over the past five years, Markel Group has grown revenue at a 9% compounded annual growth rate. However, recent performance shows slowing momentum, with annualised revenue growth of 2.6% over the last two years.
Markel Group has been removed from several Russell growth and midcap indexes in a single rebalancing, with changes taking effect at the latest Russell index reconstitution. The exclusion prompted adjustments by index-tracking funds and may affect trading activity, liquidity and visibility amongst institutional and passive investors. The diversified financial holding company, which operates across insurance, reinsurance and investment operations, reported flat first-quarter revenue and a $273 million operating loss driven by $727.6 million in net investment losses. However, its combined ratio improved from 96% to 93%. The index removal reflects how certain investor groups view the stock rather than changes in underlying operations. Active investors may monitor fund flow data and liquidity trends to assess whether index-related selling continues to influence trading volumes.
Markel Group Inc has appointed several executives to strengthen its insurance operations, including two leaders for its Canadian construction unit and a head for its London fine art division. The company announced Alisha Everett as assistant vice president and Nicholas Doy as manager of its Contractors, Trades and Construction Services unit on 15 June. In May, Markel appointed Danny O'Donoghue to lead its fine art portfolio expansion in London, citing increasing risks from rising asset values and high-profile thefts. The appointments support Markel's strategy to enhance its core insurance business whilst pursuing a share repurchase programme targeting 10% of outstanding shares over five years. More than 50 hedge funds currently back the Virginia-based conglomerate, which operates across insurance, investments and wholly-owned companies since its 1930 founding.