JOB PURPOSE
To assess, structure, and place facultative reinsurance solutions for specific or high-risk insurance cases by liaising with clients, underwriters, and reinsurers to ensure optimal risk transfer and client satisfaction.
JOB DESCRIPTION
Key Responsibilities:
Risk Assessment & Analysis
- Analyze specific insurance risks submitted by clients or insurers to determine reinsurance needs.
- Review policy wordings, underwriting information, and risk characteristics.
Structuring & Placement
- Design suitable facultative reinsurance structures (proportional/non-proportional).
- Prepare placement slips, underwriting documents, and reinsurance submissions.
- Approach local and international reinsurers to negotiate terms and pricing.
- Secure capacity and finalize reinsurance contracts.
Client & Market Engagement
- Work closely with insurance clients and internal brokers to understand risk profiles and expectations.
- Maintain strong relationships with reinsurers, both domestic and international.
- Provide regular updates and market intelligence to clients and internal stakeholders.
Documentation & Compliance
- Ensure all documentation complies with regulatory and internal guidelines.
- Coordinate the issuance of cover notes, reinsurance confirmations, and supporting documents.
- Monitor premium payments and claims recovery in coordination with the accounting and claims teams.
Collaboration & Support
- Support Business Development and Broking teams in technical matters.
- Collaborate with Claims and Treaty Reinsurance teams when risks cross over.
- Participate in training, audits, and system developments.
Job Qualifications:
- Bachelors degree in Insurance, Risk Management, Finance, or related field.
- 5-10 years of experience in reinsurance (facultative preferred) or insurance underwriting.
- Knowledge of reinsurance markets, products, and placement processes.
- Strong analytical, negotiation, and communication skills.
- Fluent in English (for international reinsurance communication).
- Proficiency in reinsurance systems and MS Office.
