Job Position : Re - Insurance Manager

Job Description :

Obtain best Reinsurance terms negotiated for optimum advantage to the organization
•Reinsurance presentation for Treaty Renewals -Preparation of all Statistical Information viz., Risk Accumulation Data, Gross and Net Band Statistics on Premium and claims, Treaty Results etc.
•Providing additional information / clarifications to Reinsurers for treaty renewals in respect of Proportional & Excess of Loss program
•Establishing relationship with new external customers [Reinsurers/brokers] and maintaining good relation with existing ones and improve the turnaround time and also work closely with other departments (especially underwriting and claims) and understand their requirements in order to take up with reinsurers
•Co-ordinate with IT team to update the Treaty limits, Commission and other details in the Insurance system (General Insurance)
•Ensure accurate Reinsurance accounting
•Obtain facultative quote / support for risks based on the underwriting information including various Tender businesses
•Finalize the facultative placement once the business is secured and cover bound with reinsurers within the stipulated time limit
•Ensure facultative premium closings sent to the reinsurers in timely manner and settlements carried out before due date.
•Take special cession approvals from the reinsurers wherever required.
•Contact the reinsurers / brokers via phone, e-mail frequently and establish good business relationship.
•Attend meeting with Reinsurers / Brokers upon their visit to our office.
•Monitor Monthly Closings processed by RI team. Assist the team in finalizing the month closings in timely manner
•Intimate reinsurers in the event of a major loss and providing regular updates.
•Assisting / monitoring the Preparation of quarterly Statement of Account for various arrangements processed by Asst manager – RI.
•Liaise with finance department for Settlement of Quarterly balances to reinsurers on Treaty and other arrangements.
•Notify losses under XL arrangements to the reinsurer and prepare recovery advises on periodical manner
•Preparation of Annual Statement of Accounts viz., P/F Premium & Loss Withdrawal Account, P/F Premium & Loss Entry Account, Excess of Loss Adjustment Account & Profit Commission Statements at the end of each financial year.
•Establishing additional RI capacity by way of Surplus/FAC oblig treaty for Fire and Engineering classes
•Periodical training to RI team members on Reinsurance.

Qualification
•Five years of Experience in the Re-Insurance with General [Non-Life] Insurance Industry and out of which 2 years to be in Gulf
•Graduate with Insurance qualification AIII [equivalent] or above
•Thorough command on FAC and Treaty RI operations

Company Name : Client of Symmetrical

Location : Muscat

Job Code : HR/SGS/391

Experience : 6

Job Salary

Last Date To Apply : 31.9.2014

Posted on : 19.8.2014