Salary Guide 2019

INSURANCE
MARKET

Salary Guide: 2019

www.insightrec.co.uk

INSURANCE SALARIES 2019

We are pleased to present our 2019 Insurance
Market Salary Guide covering Insurance and Finance roles

Our salary guide is solely dedicated to the insurance
market. A variety of methods have been used to compile
the data, including participation from a cross section of
organisations operating in the insurance market, data
from the many job briefs that we have been handling and
analysis of candidates’ current salaries.

Our research and application of our market knowledge
make this guide authoriative and essential reading for
insurance organisations. For a more detailed and bespoke
benchmarking service Insight Recruitment Solutions will
be pleased to act in the strictest confidence.

Yours sincerely,

Robert Hopkins and Paul Wise
Founding Partners

2 Your Company Name Here

WHO WE ARE

Insight’s team of Consultants have extensive experience in placing
insurance professionals with a wide range of clients including Lloyd’s
and company market underwriters, MGAs, Lloyd’s brokers, general
insurers, P&I clubs and industry services providers. These range from
the established global players through to start-up insurers.

ABOUT INSIGHT RECRUITMENT

We utilise the full range of recruitment solutions from contingency through to retained search
assignments. Having been established for over a decade, our wealth of industry knowledge and
market network allows us to provide the most insightful service to clients and candidates alike.

Our consultants are passionate about their candidates’ career and they are dedicated to offering
relevant, knowledgeable and honest advice throughout the entire recruitment process.

Our resourcers excel in maintaining excellent rapport with candidates, providing them with up to date
market information and helping them find their best role in the industry which in turn gives clients a
more productive and effective employee.

As REC members we ensure that we are fully compliant with their principles and processes. Utilising
the latest technology ensures that all CV’s and data are accurate and secure.

We are a proud member of the Recruitment 3
and Employment Confederation

Your Company Name Here

63% of people believe that their current employer promotes
diversity in the workplace

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UNDERWRITING

ROLE LEVEL OF EXPERIENCE
Mid-level
Entry Senior

Underwriting

Director of Underwriting - - £90,000 +
- £80,000 +
Class Underwriter - £40,000 – £65,000 £65,000 – £120,000
£31,000 – £39,000 £42,000 – £48,000
Underwriter - £33,000 – £47,000 £45,000 – £58,000
£25,000 – £30,000 £28,000 – £36,000
Underwriting Support /Ops Team Leader -

Assistant Underwriter -

Underwriting/Box/Aggregates Assistant £18,000 – £25,000

Underwriting Support/Operations

Operations Director - - £70,000+
- £60,000+
Reinsurance Manager - £30,000 – £44,000 £45,000 – £63,000
£50,000 – £65,000 £60,000 – £80,000
Reinsurance Technician £20,000 – £25,000 £30,000 – £44,000 £45,000 – £62,000
£39,000 – £62,000 £55,000 – £80,000
DUA Manager - £22,000 – £28,000 £25,000 – £35,000
£30,000 – £50.000 £74,000 – £88,000
DUA Technician £20,000 – £24,000

Underwriting Support Manager -

Underwriting Support Technician £18,000 – £22,000

Data Quality Controller/Manager £20,000 – £25,000

Analysts

MI Manager - £52,000 – £65,000 £65,000 +
£28,000 – £46,000 £42,000 – £65,000
MI Analyst/Stats Analyst £22,000 – £30,000 £32,000 – £50,000 £55,000 – £75,000

Business Analyst (projects) £22,000 – £30,000

Catastrophe Risk Modelling

Catastrophe Modelling Manager - - £75,000 +
£34,000 – £62,000 £65,000
Catastrophe Risk Analyst £22,000 – £30,000

Claims

Director of Claims - - £80,000 +
£42,000 – £58,000 £55,000 – £105,000
Claims Manager - £35,000 – £47,000 £48,000 – £95,000
£23,000 – £28,000 £28,000 – £33,000
Claims Adjuster £25,000 – £31,000

Claims Administrator £18,000 – £22,000

Compliance/Regulatory

Compliance Manager - £52,000 – £63,000 £65,000 – £90,000

Compliance Officer - £35,000 – £48,000 £48,000 – £68,000

Compliance Assistant/Administrator £20,000 – £26,000 £25,000 – £37,000 £36,000 – £45,000

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56% of employees feel secure in their current role

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BROKING

ROLE Entry LEVEL OF EXPERIENCE Senior
Mid-level
Broking
Divisional Director - - £90,000 +
Producer Broker - £45,000 - £65,000 £70,000 - £180,000
Placing Broker £35,000 - £55,000 £50,000 - £85,000
Account Handler £20,000 - £32,000 £30,000 - £45,000 £42,000 - £63,000
Broking Tech. Backup / Support
Reinsurance Manager - £50,000 - £65,000 £70,000 - £110,000
Technical Manager - £40,000 - £60,000 £65,000 - £80,000
Binding Authority Manager - £48,000 - £67,000 £62,000 - £90,000
Reinsurance Technician £22,000 - £28,000 £35,000 - £48,000 £45,000 - £60,000
Broker Backup/Insurance Technician £18,000 - £23,000 £27,000 - £40,000 £41,000 - £52,000
Binding Authority Technician £19,000 - £25,000 £30,000 - £45,000 £44,000 - £60,000
Analysts
MI Manager - £45,000 - £65,000 £65,000 +
MI Analyst/Stats Analyst £21,000 - £28,000 £32,000 - £48,000 £45,000 - £63,000
Business Analyst (projects) £22,000 - £28,000 £30,000 - £45,000 £42,000 - £68,000
Claims
Director of Claims - - £90,000 +
Claims Manager - £45,000 - £65,000 £60,000 - £88,000
Claims Broker £18,000 - £25,000 £28,000 - £35,000 £33,000 - £52,000
Claims Technician £18,000 - £23,000 £25,000 - £34,000 £35,000 - £50,000
Claims Administrator £17,000 - £22,000 £22,000 - £27,000 £29,000 - £36,000
Compliance/Regulatory
Compliance Manager - £50,000 - £62,000 £65,000 - £90,000
Compliance Officer - £35,000 - £45,000 £42,000 - £65,000
Compliance Assistant/Admin £20,000 - £24,000 £25,000 - £33,000 £30,000 - £40,000
Entry Level
Graduate £22,000 - £28,000 - -
GCSE/A-level or equivalent £18,000 - £23,000 - -

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31% of employees would like a more flexible approach
to work

1958
2016

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FINANCE/PERMANENT

ROLE SALARY ROLE SALARY
Syndicate Accountant
Finance Director Syndicate Financial Controller £95,000 - £160,000
Senior Syndicate Accountant £72,000 - £92,000
Large Company £195,000 + Syndicate Accountant £52,000 - £78,000
Assistant Syndicate Accountant £36,000 - £49,000
Medium Company £165,000 + Trainee (0- 3 years) £23,000 - £35,000
Credit Controller Underwriter
Small Company £105,000 + Senior Manager £72,000 - £95,000
Manager £54,000 - £68,000
Financial Controller Supervisor £38,000 - £58,000
Credit Controller £27,000 - £40,000
Large Company £130,000 - £180.000 Trainee £18,000 - £24,000
Ledger Clerks
Medium Company £110,000 - £165,000 Supervisor / Senior £38,000 - £50,000
Two years + £24,000 - £38,000
Small Company £75,000 - £115,000 Trainee (0 – 2 years) £18,000 - £24,000
Treasury / Cashier
Head of Department Treasurer £90,000 - £145,000
Manager £68,000 - £95,000
FP&A £120,000 - £165,000 Senior £45,000 - £70,000
Mid- Level £30,000 - £52,000
Financial / Regulatory Reporting £115,000 - £180,000 Assistant £18,000 - £28,000
IBA
Internal Audit £85,000 - £145,000 Manager £75,000 - £105,000
Manager / Special Projects £55,000 - £85,000
Tax £85,000 - £142,000 Supervisor / Senior £37,000 - £55,000
Accounts Assistant £25,000 - £38,000
Two to Six Years PQE + Trainee £18,000 - £24,000

ACA £65,000 - £82,000

ACCA £61,000 - £78,000

CIMA £61,000 - £78,000

Newly Qualified

ACA £52,000 - £58,000

ACCA £50,000 - £56,000

CIMA £50,000 - £56,000

Part Qualified ACCA/CIMA

Finalist £40,000 - £48,000

Part qualified £32,000 - £44,000

Pre-part qualified studier £24,000 - £35,000

Technical / Regulatory Accountant

Manager £95,000 - £145,000

Senior £75,000 - £114,000

Qualified £53,000 - £68,000

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Your Company Name Here 9

I wish to extend my congratulations to
you and all at Insight for reaching your
10 year anniversary. What a fabulous
achievement with all your hard work
reflected in the company’s growth and
continued success. You should all be
very proud and to be recognised as
a brand who continue to work with
integrity in an ongoing competitive
space - and here’s to the next successful
10 years and beyond!

- Head of HR,
Lloyd’s and Company Market

Underwriter

I have been using Insight for over ten
years and they have placed more than

half of my current finance team with
me. I always know that when I place
a requirement with them that it is in
very safe hands. Beyond this I highly
value their thorough knowledge of
the market and the friendly manner of

any of their staff that I deal with.

- Finance Director, Underwriter

10 Your Company Name Here

FINANCE/INTERIM

ROLE SALARY ROLE SALARY
Finance Director
Large Company £1250 p/d + Syndicate Accountant
Medium Company £850 p/d +
Small Company £650 p/d + Syndicate Financial Controller £800 p/d +
Financial Controller
Large Company £900 p/d + Senior Syndicate Accountant £550 – £750 p/d
Medium Company £600 – £850 p/d
Small Company £450 – £650 p/d Syndicate Accountant £450 – £550 p/d
FP&A
Manager £750 p/d + Assistant Syndicate Accountant £200 – £400 p/d
Senior FP&A £550 – £725 p/d
FP&A Accountant £350 – £480 p/d Credit Controller Underwriter
Two to Six Years PQE +
ACA £350 – £600 p/d Supervisor / Senior £210 – £305 p/d
ACCA / CIMA £350 – £600 p/d
Newly Qualified Two years + £130 – £205 p/d
ACA £250 – £350 p/d
ACCA £250 – £350 p/d Ledger Clerks
CIMA £250 – £350 p/d
Part Qualified ACCA/CIMA Supervisor / Senior £20 – £32 p/h
Finalist £25 – £35 p/h
Part qualified £22 – £28 p/h Two years + £14 – £26 p/h
Pre-part qualified studier £15 – £22 p/h
Junior £12 – £16 p/h

Treasury / Cashier

Senior £250 – £350 p/d

Mid- Level £160 – £220 p/d

IBA

Senior Manager £280 – £425 p/d

Manager / Special Projects £240 – £355 p/d

Supervisor / Senior £25 – £38 p/h

Accounts Assistant £16 – £23 p/h

Technical / Regulatory Accountant

Manager £700 p/d +

Senior £450 – £750 p/d

Qualified £400 – £500 p/d

Your Company Name Here 11

Insight Recruitment
Solutions Ltd.

23 Austin Friars
London

EC2N 2QP

020 3790 9585
[email protected]
www.insightrec.co.uk

FTL