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Outwards Reinsurance Technician


£50000 - £60000 per annum


HFG have partnered with a leading Lloyd's Syndicate to assist with their search for an Outwards Reinsurance Technician, focusing predominantly on their Casualty business.

  • Principal Accountabilities:

  • Responsible for the accuracy and timely completion (within SLA’s) of key processes including; contract entry, reinsurance premiums and recoveries, advices, brokerage, premium adjustments and profit commissions in-line with the group’s guidelines and procedures

  • Peer review of contract details input into the group’s Outwards Reinsurance system and liaise with the Outwards Reinsurance Placement team on any queries relating to setup and operation of contracts

  • Review gross claims movements to identify, calculate and process recoveries in-line with respective contract conditions and wordings

  • Calculate and process reinsurance premiums, advices, adjustments, brokerage, collections and pro-rata accounts

  • Issue statements to brokers / reinsurers and recover and advise sums due

  • Monitor and manage quality and accuracy through peer review, exception reporting and DQ Pro breaches (within SLA’s)

  • Resolve any queries on advices / collections raised, preventing delays in credit control and collection of monies

  • Resolve any queries from a Finance and Actuarial perspective in-line with the group reserving philosophy

  • Liaise with the Claims Department, when necessary, to resolve any queries that may have been raised by Reinsurers and request loss reports

  • Provide support with liquidations and scheme processes

  • Provide support with commutation processes

  • Represent Outward Reinsurance Operations team at key meetings, including the Credit Committee and Reinsurance Committee, MLP and with external clients, if required

  • Provide information, reporting and triangulations to Outward Reinsurance Placement team to support the purchase of the group’s reinsurance programme

  • Business Experience:

  • Relevant experience in working in an Outwards Reinsurance function within the London Market, specifically Lloyd’s of London

  • Proficient in reinsurance recovery procedures from First Advice to Final Settlement, including Credit Control

  • Ability to calculate recoveries arising under different reinsurance types;

    • Facultative
    • Proportional treaty including associated overriders, profit commissions, premium reserves and portfolio transfers
    • Excess of loss including the calculation of associated reinstatement and adjustment premiums
    • Risk Excess and Event reinsurance programmes
    • Good understanding of Marine, Non-Marine and Aviation classes of business
    • Capable of identifying applicable reinsurances
    • Good understanding of Lloyd’s of London processes
  • Technical Skills:

  • Microsoft Excel (Advanced level)

  • Microsoft Office Suite (Intermediate level)

  • Global XL Pro Outwards Reinsurance system (Advanced level)

  • Eclipse Underwriting system (Intermediate level)

  • If you feel you meet the above criteria, please apply now.

Posted 30 days ago

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