Assistant Manager – Reinsurance
- 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.
- 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.
- 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