Reporting to the Head of Reinsurance, the Reinsurance Placement Officer will support the design, placement and contracting of reinsurance arrangements. Will be responsible for reinsurer relationship management and monitoring reinsurer performance.
Statement of responsibilities:
- Work closely with the Head of Reinsurance to enact reinsurance arrangements in accordance with the Reinsurance Risk Policy.
- Responsible for the contracting with reinsurers and ensuring contract certainty for all placements.
- Work with the Head of Reinsurance, CUO and legal counsel to ensure legal rights and protections are in place to align reinsurance to MGA and product level.
- Where necessary coordinate and oversee reinsurance brokers and MGAs regarding the placement of reinsurance, approving market presentations, wordings and structures.
- Work with the Head of Reinsurance and COO to ensure alignment of commercial terms with the underlying MGA contracts.
Key Duties:
- Work with Head of Reinsurance to co-ordinate with the Underwriting & Product Group due diligence and structured reinsurance solutions per MGA
- Support the purchasing of reinsurance, contracting and placement.
- KPI monitoring of reinsurers, reinsurance brokers and performance data – linked to the MGA KPIs developed by the CUO
- Monthly and annual reporting and review of our reinsurance position
Required for the role:
- Proven track record in reinsurance placement and knowledge of the market
- Good market relationships with reinsurance brokers and reinsurers