Job details

Assistant Manager – Reinsurance

Job Role

All ground preparation in respect of Treaty Renewal for the Management (Internally)

Job description

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

Specification

No of vacancies:
1
Job type:
Full Time
Location:
Dubai, United Arab Emirates
Experience:
3 - 5 years
Driving License:
Not required
Visa:
To be provided by employer
Job code:
JB287