Re - Insurance Manager

Obtain the best Reinsurance terms negotiated for optimum advantage to the organization.

Responsibilities :

• Prepare Reinsurance presentations for Treaty Renewals, including all statistical information such as Risk Accumulation Data, Gross and Net Band Statistics on Premium and Claims, and Treaty Results.
• Provide additional information and clarifications to Reinsurers for treaty renewals related to Proportional & Excess of Loss programs.
• Establish and maintain good relationships with new external customers (Reinsurers / Brokers) and existing ones, enhancing turnaround times and collaborating closely with underwriting and claims departments to understand their requirements for negotiations.
• Coordinate with the IT team to update Treaty limits, Commission, and other details in the Insurance system.
• Ensure accurate Reinsurance accounting.
• Obtain facultative quotes / support for risks based on underwriting information, including Tender businesses.
• Finalize facultative placements and ensure cover is bound within stipulated timeframes.
• Send timely facultative premium closings to reinsurers and ensure settlements are completed before due dates.
• Secure special cession approvals from reinsurers when required.
• Maintain regular communication with reinsurers / brokers via phone and email to foster good business relationships.
• Attend meetings with Reinsurers / Brokers during their visits.
• Monitor monthly closings processed by the RI team and assist in finalizing them promptly.
• Notify reinsurers of major losses and provide regular updates.
• Assist in preparing quarterly Statements of Account for various arrangements.
• Liaise with the finance department for settlement of quarterly balances to reinsurers.
• Notify losses under XL arrangements and prepare recovery advisories periodically.
• Prepare annual Statements of Accounts, including Premium & Loss Withdrawal Accounts, Entry Accounts, XL Adjustment, and Profit Commission Statements.
• Establish additional RI capacity through Surplus / FAC obligate treaties for Fire and Engineering classes.
• Conduct periodic training for the RI team on Reinsurance topics.

Qualifications :

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