By Sukoon Insurance, UAE Qualification:
Bachelor’s degree in a relevant field such as finance, business, or insurance. Professional certifications such as ACII or CPCU are preferred.
Experience:
- At least 5 years experience in Treaty Reinsurance Fluency in English is required, additional language skills are a plus.
Roles & Responsibilities:
- Outward Treaty Reinsurance Function: Lead and oversee the entire design and placement process including treaty reinsurance submission, preparation, contract review, contract negotiation as well as treaty arrangements set-up in front-end systems and administration.
- Strategize and partner with Actuarial, Finance, Accounting, Underwriting, Risk Management and Business Heads to build reinsurance programs that meet corporate risk appetite targets, financial goals and underwriting objectives.
- Lead negotiations with treaty reinsurers and treaty reinsurance brokers to secure competitive terms, comprehensive structure and pricing and Present analysis to business units to influence the reinsurance decisions and/or decisions related to assigned projects and Ensure contracts reflect negotiated terms, comprehensive coverage and conditions available in the market.
- Ensure effective oversight and control of reinsurance arrangements. Ensure that corporate policies and regulatory requirements are met.
- Monitor the placement process and security rating of the reinsurance panel and Oversee reinsurance recoveries reporting process and cash loss advices to the reinsurers.
- Oversee the treaty administration and servicing process, including statistics update / loss corridor calculations / sliding scale commission adjustments / profit commissions / XOL adjustments. Relationship Management & Technical Support: Develop and maintain SIC relationships with brokers and markets. Act as the central point of contact on reinsurance matters related to treaty reinsurance placements and reinsurance recoveries.
- Develop and maintain treaty reinsurance standards in coordination with Head of Reinsurance and Legal Team. Implement and maintain treaty reinsurance procedures.
- Deliver with agreed SLAs the requirements of all stakeholders.
- Perform other duties relating to reinsurance as requested by senior management
More Information
- City Dubai
- Currency United Arab Emirates Dirhams – AED
- Number of Vacancies 1
- Career Level Mid-Career
- Years of experience (Min) 5
- Education Major BS/BBA
- Degree Bachelor's degree / higher diploma
- Preferred Nationality Any Nationality
- Gender Male
- Speciality 1 Insurance
