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Reinsurance Asset Handlers

Market leading Insurer and Reinsurer is looking for Reinsurance Asset Handlers to join their Reinsurance Asset Management Team.

The Reinsurance Asset Management team are responsible for all operational aspects of outwards reinsurance including treaty set up, recoveries, cash allocation, credit control, reporting, broker communications and reconciliations. The team works closely with Outwards Reinsurance, Purchasing, Claims, Finance and other operations functions to ensure a seamless and co-ordinated approach throughout all of its activities.

This is a growing team and the roles would suit candidates with Outwards Reinsurance experience as well as candidates with Underwriting or Claims Operations experience. The roles also offer excellent opportunities for future career progression.

Specific Responsibilities will include:

• Cover note administration by ensuring high quality data and ‘right first time’ contract set up within the core reinsurance systems
• Identification and Calculation of reinsurance asset, issuance and monitoring of reinsurance claims collection notes as per contract terms and conditions for XOL, facultative and quota share covers
• Production of, Large Loss Reports, Risk and Claim bordereaux to support reinsurance accounts
• Assist with the calculation and booking of premiums, Premium Adjustments, Profit Commission & NCB etc within core systems
• Assist with the cash entry and application process for all ceded contracts and classes of business to include credit control
• Assist with the reinsurance recoveries, Aged Debt analysis and recovery including query resolution, application of cash collected and evaluation of impact of bad debt reserves
• Establish and coordinate client and broker meetings in order to support understanding our external stakeholder needs and expectations
• Prepare missing account listing to notify brokers on overdue accounts not received on a timely basis
• Assistance with delivery of KPI’s, analytical review and Interpretation of quarter end results for all aspects of the ceded P&L for the London market company and Syndicate for senior management review.
• Review and evaluate the utilisation of technology to maximize efficiency of the ceded reinsurance department
• Review and evaluation of RI data for identification of commutation targets and client engagement for purposes of negotiations

Skills and Experience Required:

• Insurance and Reinsurance knowledge
• London market company and Lloyd's Syndicate experience preferred
• Ability and confidence to challenge existing procedures & use of systems
• Knowledge of Microsoft Excel Pivot Tables, V-Lookups, and MS PowerPoint preferred

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