What Add job title, key skills
Scroll for more!

Senior Reinsurance Technician

Zoek Pin Swansea - This Area Only

£40000 - £50000/annum

Permanent (Full time)

Posted 13 days ago

JOB TITLE: Senior Reinsurance Technician


SALARY: £40-50,000


The Senior Reinsurance Technician role forms part of the Reinsurance Team.

Our client are a leading underwriter of a wide range of specialist insurance products.

The Senior Reinsurance Technician’s primary responsibility is to manage the day to day reporting and execution of the outwards reinsurance strategy for the specialist P&C (re)insurance business and Syndicate, supporting the renewal of the reinsurance placement and the recovery of reinsurance claims. The role will work closely with the underwriters responsible for purchasing reinsurance cover, including working with other functions in the business, and reinsurance brokers.

The role will be responsible for setting up the reinsurance processes for the new Syndicate as we build out our capabilities to write specialist lines of business, working closely with underwriting, claims, and the reinsurance team to ensure appropriate systems, processes and controls are in place.


Planning and coordinating the collation of information to support the underwriters in the placement of reinsurance requirements. Delivering detailed MI on underwriting profiles and claims development data. Strong communication with internal stakeholders (Underwriting, Exposure Management, Claims, Finance and Actuarial) to ensure all information and messaging is captured and validated.

Reinsurance updates/collections – Implement and execute processes and controls around the administration of reinsurance policies, including premium payments and recovery collections.

Oversee the completion of reporting, recovery and credit control against all reinsurance assets (Quota Share, XOL, ADC) ensuring service levels and reporting aligns to agreement criteria. Ensure all reinsurance premiums are settled in line with the contracts.

Coordinate and manage the handling and administration process of prior legacy business, maintaining reserves, liaising with TPAs / solicitors and making settlements as necessary.

Review, monitor and report reinsurer exposure and aggregations to ensure we meet Board approved appetite requirements. In addition, assess, validate and report potential bad debt in respect of liquidated, poorly rated and commuted reinsurers.

Produce required reinsurance reporting, including reinsurance schematics, reinsurance erosion and utilization reports, etc and other reports required from the business.

Present reinsurance matters to the Underwriting and Finance committees as required.

Effectively plan, manage and coordinate the syndicates internal and regulatory reinsurance reporting requirements such as RDS, RDL, SRS, LFB, 710 returns submitted through Lloyd’s CMR where relevant including analysis of event modeling output.

Understand the risk environment in which we operate. Identifying and managing the key risks which threaten the success and sustainability of our business in partnership with the Risk Management Function.

Coordinate and control RI activities to meet risk assessment requirements. Ensuring our client adhere to and comply to Lloyd’s minimum standards such as strategy, planning, implementation, monitoring, control & risk framework.

Ensuring that at all times, we operate in such a way which is consistent with all legal and regulatory provisions. We are a business which takes our stated values and behaviours seriously and are absolutely committed to acting at all times in ways which are ethical, compliant and appropriate.

Coordinate and effectively introduce new regulatory / legislative processes to the business, ensuring buy-in and influencing application of these into practice on behalf of RI team.

Establish and maintain effective relationships with RI brokers and reinsurers which ensures that they have an extensive understanding of our business and our reinsurance needs and that our reinsurance placement is secured in line with our agreed financial plans and policies.

Evaluate, coordinate and lead presentations of non-conventional risks to Reinsurers.

Represent reinsurance team at governance committees/forums/ external meetings, when required

Support the renewal of Corporate Insurance placement requirements as appropriate.

To effectively manage relationships with the Company Secretary, Risk and Compliance and Internal and External Audit functions. To establish their confidence in the RI function on financial, process and customer matters and agree any actions necessary to achieve this and deliver against these.


London Market and Lloyd’s reinsurance experience, including typical reinsurance structures, market clauses, reporting and administrative processes, etc

Knowledge of reinsurance principles and an understanding of the market place.

Knowledge of reinsurance purchasing needs, the structure of reinsurance programs and associated agreements.

Excellent analytical and Microsoft product skills (Excel, Word and Access).

Excellent planning and organization skills

Good interpersonal skills which will allow you to build and maintain value adding relationships.

Ability to demonstrate gravitas and clarity of purpose which will give confidence to senior stakeholders, both internally and externally.

Knowledge of the legal, regulatory and compliance provisions that apply to the UK insurance market.

Knowledge of Lloyd’s minimum standards.

Knowledge of Solvency II and experience within a Lloyd's Syndicate will be considered an advantage.

The role requires a self-motivated team player capable of working with limited supervision.


Effective Communication Skills

Initiative & Change

Driving & Delivering Results

Planning & Organising

Ability to challenge and influence

Problem Solving

Decision Making

Commercial Awareness (including Financial Awareness)

Building Relationships

Flexibility in the approach to work, adapting to the changing environment and demands of the business

Report job View Company Page
Apply on Hirer's Site
Apply on Hirer's Site
Similar Jobs