Job Overview:

The Reinsurance Officer will assist the Head of Department (HOD) in managing all activities within the Reinsurance Department, adhering to the policies and procedures established by the management.

Roles and Responsibilities:

• Assist in the preparation of treaty renewal data and oversee placement processes. Analyze treaty statistics and evaluate business performance.
• Assess key risk segments and secure appropriate reinsurance capacity through reinsurers and brokers, in line with policy guidelines.
• Conduct risk evaluations, arrange reinsurance support, issue insurance quotes, and manage underwriting for key account portfolios. Maintain policy documentation.
• Collaborate closely with the underwriting teams, facultative and treaty reinsurers/brokers to ensure seamless reinsurance placements.
• Prepare and dispatch monthly facultative credit/debit notes to reinsurers/brokers, where applicable.
• Ensure the accuracy of reinsurance apportionments in both treaty and facultative policies within the Premia software system.
• Participate in monthly company closing activities, including facultative reinsurance entries, treaty distribution approvals in the Premia system, and sending closing reports to the finance department.
• Oversee credit control and monitor payment of facultative premiums to reinsurers/brokers in accordance with PPW clauses.

Eligibility Criteria:

• Bachelor’s degree in Business Administration, Mathematics, Economics, Management, Insurance, or Accounting.
• Certificate in Insurance (Cert CII) from the Chartered Insurance Institute; a Diploma in Insurance is a plus.
• 3-5 years of experience in General Insurance Underwriting, with at least 2 years in Reinsurance.
• Strong technical knowledge of General Insurance underwriting and Treaty Reinsurance.
• Thorough understanding of proportional and non-proportional reinsurance placements.
• Experience in accounts reconciliation with reinsurance counterparties.
• Familiarity with facultative reinsurance placements and post-service activities such as premium closings, balance reconciliations, and adherence to PPW deadlines.
• Ability to interpret premium and claim bordereaux and prepare quarterly treaty statements of accounts.
• Proficiency in the Premia System.