الوصف الوظيفي
Long Description Job Summary To look after the various reinsurance arrangements including treaty and facultative reinsurance protection for all classes of business written by the company. Assist in implementation of the company’s reinsurance program based on overall company’s objectives. Maintain a business relationship with the Company’s underwriting and finance department and with the local, regional and international reinsurance market.
Job Responsibilities • Coordinates all reinsurance activities.
• Negotiate reinsurance contracts with brokers and companies
• Ensure compliance with legal and regulatory requirements
• Liaise with internal departments to gather necessary information.
• Prepare and present reports on reinsurance activities and strategies.
• Maintain accurate records of all reinsurance transactions and agreements.
• Assist in audits and regulatory reviews
• Analyze the financial impact of reinsurance transactions.
• Monitor performance of reinsurance agreements.
• Working and making XOL MDP Adjustment for Whole Account Excess of Loss and Motor Excess of Loss.
• Working and making of Profit Commission and updating Statistics as per company requirement.
• Coordinating with IT Department for updating all Reinsurance related matters.
• Preparing Quarterly basis Statement of Accounts for all types of Reinsurance.
• Preparing all Statistics for Proportional & Non-Proportional Treaties for all Reinsurers & all Treaties.
• Collaborates with Claims Unit on notification and recovery of claims from reinsurers.
• Acknowledging receipt of loss advices (Notification of Claims / Cash Call) with full supporting documents from Cedant
• Ensures compliance with set standards for reinsurance.
• Preparation of data and statistics for the treaty negotiation.
• Ensure treaty set up is done before commencement of the year.
• Ensures prompt settlement of reinsurance premiums.
• Ensures immediate cession of risks beyond the company’s underwriting capacity through treaty and facultative sessions.
• Ensures prompt reconciliation of year-end accounts with reinsurers.
Candidate Requirements
• Excellent analytical skills with the ability to assess complex risk factors and make sound underwriting decisions.
• Advanced Excel is a must with excellent mathematical ability
• Ability to work within and across teams.
• Ability to handle deadline-oriented work.
• Highly motivated
• Strong verbal and written communication skills
• Willingness to take ownership of assigned work by exhibiting a high level of commitment and initiative.
• Ability to manage workload and proactively provide updates. –
• A developed understanding of Reinsurance
- University Degree in the Field of Economics, Business Administration or any related field.
- Professional Insurance qualification, like Charted Insurance Institute (CII/ACII) or any equivalent is a plus.
3-5 years of experience in the insurance or reinsurance industry.
