Senior Manager Reinsurance

The Reinsurance Manager will assume responsibility for overseeing and managing the reinsurance activities within an organization. This role entails evaluating risks, negotiating reinsurance contracts, monitoring claims, and ensuring compliance with regulatory requirements. The incumbent will collaborate with internal departments, reinsurers, and brokers to optimize reinsurance coverage and mitigate potential financial risks.

Responsibilities:

1- Reinsurance Strategy and Planning:

Develop and implement reinsurance strategies aligned with the organization’s goals and risk appetite.

Analyse and assess the organization’s risk exposures and recommend appropriate reinsurance programs.

Collaborate with senior management to establish reinsurance objectives and risk tolerances.

2-Reinsurance Contract Negotiation:

Negotiate reinsurance terms and conditions, including premiums, coverage limits, and loss-sharing arrangements.

Identify and select suitable reinsurers or brokers based on their financial stability and expertise.

Review and analyse reinsurance contracts to ensure compliance with regulatory requirements and organizational policies.

3-Risk Assessment and Analysis:

Evaluate and quantify risks associated with the organization’s insurance portfolio.

Conduct actuarial analysis to determine optimal reinsurance structures and pricing.

Monitor industry trends and market conditions to assess the impact on reinsurance strategies.

4-Claims Management:

Oversee the claims process and collaborate with claims adjusters to ensure timely and accurate claim settlements.

Coordinate with reinsurers and brokers to resolve complex claims and disputes.

Analyse claims data to identify trends, patterns, and potential areas for improvement.

5-Relationship Management:

Foster and maintain strong relationships with reinsurers, brokers, and other external stakeholders.

Negotiate and maintain favourable business terms with reinsurers to optimize reinsurance arrangements.

Collaborate with internal departments, such as underwriting and finance, to ensure effective communication and alignment of reinsurance objectives.

6-Compliance and Reporting:

Ensure compliance with regulatory requirements and internal control procedures.

Prepare reports on reinsurance activities, including financial performance, risk exposures, and claims analysis.

Stay updated on industry regulations and best practices related to reinsurance.

7- Product Development:

Conduct comprehensive market research to identify market trends, customer needs, and the competitive landscape.

Identify the proper reinsurance markets to support new products for proper risk transfer.

Implement the best reinsurance structure to maximize the profitability of the organization

Qualifications:

Bachelor’s degree in risk management, finance, or a related field (advanced degree preferred).

Extensive experience in reinsurance operations, preferably in a managerial or supervisory role.

In-depth knowledge of reinsurance concepts, practices, and industry trends.

Strong analytical skills with the ability to evaluate and quantify risks.

Excellent negotiation, communication, and interpersonal skills.

Familiarity with relevant regulatory frameworks and compliance requirements.

Strong attention to detail and the ability to prioritize and manage multiple tasks effectively.

Interested candidates may share their application at umer.farooqui@metierme.net subject ‘Senior Manager Reinsurance’

Apply Now