Assistant Manager – Reinsurance

Job specification

No of vacancies
: 1
Job Type
: Full Time
Experience
: 3 to 5 years
Job Code
: JB287
Expiry Date:
: October 31, 2017
Date of Joining (approx):
: November 01, 2017

Job summary

Functional area
: Insurance
Job Role
: All ground preparation in respect of Treaty Renewal for the Management (Internally)
Location
:United Arab Emirates

Job descriptions

    Key Responsibilities:

    TREATY

    • All ground preparation in respect of Treaty Renewal for the Management (Internally)
    • Preparation of treaty statistic, Risk Profiles, Claims Triangulations and all other relevant reports required for treaty renewals.
    • Review treaty statistics on quarterly basis.
    • Gathering information from various departments for any changes on the treaties.
    • Discussions/Negotiations with Reinsurers/ Brokers in coordination with CTO / GM
    • Monitoring PPW settlements and to ensure payments are timely effected to Reinsurers by the Finance Dept.
    • Treaty accounts & Reconciliation of the same with Reinsurer and Finance on monthly and quarterly basis.
    • Calculations of Profit commission for applicable treaties end of each treaty year and follow up with RI
    • Working of Premium Adjustments end of each treaty year for XOL treaties.
    • Obtain confirmation from RI's for special acceptances and coordinate with departments
    • Arranging Cash Call whenever required.
    • Advices RI's for claims exceeding the Loss Limit
    • Coordination with RI in respect of Recoveries on various XOL treaties (Mainly Motor)
    • Monitoring the allocations of policies / endorsement / Claims are as per treaty conditions.
    • Various Treaty setups to be maintained in the system.
    • Finalizing of Cover Notes / Treaty Wordings.
    • Constant review of Treaty results & updating the Management.
    • Updating status of RI securities.

    FAC

    • Arranging necessary FAC support from various markets for major / Group Risks.
    • Preparing Panel of Reinsurers and review security of RI
    • Assist in obtaining FAC support wherever necessary mainly on Specialty lines.
    • Monitoring / Updating Finance dept. to effect PPW timely.

     

    Qualifications:

    • 3 years or more experience with an insurance company in UAE and involved in Treat Renewal  
    • Holding a relevant university degree, preferably with a professional qualification in insurance.
    • Excellent communication skills (writing and verbal) in English
    • Knowledge with regard to reinsurance / insurance