OVERALL JOB PURPOSE
Reporting to the Chief Operating Operation (COO) General insurance,the job holder shall manage reinsurance operations in Kenya and Regions.He/she shall assist in looking after the various reinsurance arrangements including treaty and facultative reinsurance protection for all classes of business written by the company.
He/She shall also assist in implementation of the company’s reinsurance programme based on overall company’s objectives and maintain a business relationship with the Company’s underwriting and finance department and with the local, regional and international reinsurance market.
- Analyze the risks accepted and ensure risks are ceded properly.
- Ensure that all acceptances are protected by proper reinsurance arrangement on a back to back basis without any gaps in risks accepted and reinsurance protection availed.
- Obtain all necessary underwriting information required to place the risk in the international/regional/local reinsurance market.
- Coordinate with reinsurance brokers for the placement of each and every declaration to the appropriate reinsurance arrangement
- Assist in arranging proper reinsurance protection as and when required.
- Place reinsurance directly to the market or through the broker whether on facultative or any other basis depending on the need of the situation.
- Assist in the administration of the reinsurance program.
- Ensure timely submission of closing and accounting documents as well as for settlement of premium and recovery of claims from reinsurers.
- Ensure accuracy of reinsurance contract with reference to original terms at which reinsurance is accepted.
- Maintain efficient communication lines between the company and brokers.
- Prepare reinsurance underwriting and claims statistics including outstanding claims and reinsurance recoveries there from on a regular basis and update the same at periodic intervals as per requirement.
- Review reinsurance payments/recoveries relating reinsurance premium, commissioning and claims.
- Calculate reinsurance premium, profit commission and other reinsurance deductions and able to prepare relevant documentation.
KEY QUALIFICATIONS, KNOWLEDGE AND EXPERIENCE
- A business related University Degree
- Professional Insurance qualification (CII or IIK)
- Must have a minimum of 6 years’ experience in reinsurance field.
- Knowledge of Reinsurance Treaty, Facultative wording and Reinsurance Slips preparation
COMPETENCIES AND REQUIREMENTS
- Good analytical skills
- Computer knowledge
- Ability to communicate effectively
- Good understanding of general Insurance products
- Accounting background will be an added advantage
KEY PERFORMANCE STANDARDS & AREAS
- Reinsurance accounting Program management
- Facultative business budget
- Timely security and risk placement
- Reinsurance cost
Friday, July 21, 2017
A business related University Degree
Professional Insurance qualification (CII or IIK)
Must have a minimum of 6 years’ experience in reinsurance field