Reinsurance Manager (Treaty & Facultative)

About the Division/Dept

The Reinsurance Department is responsible for all treaty and facultative reinsurance matters (inwards & outwards) of the Company.

Job Purpose

As a Reinsurance Manager / Assistant Manager, you will play a pivotal role in managing the reinsurance and underwriting standards to achieve company's twin objectives of GWP growth and underwriting profitability by:

• Ensuring the Company’s reinsurance is placed to obtain optimum profit retention and reciprocity, at terms that commensurate with the Company’s acquisition costs.
• Ensuring the reinsurance inwards businesses accepted are in accordance with the Company’s limits of acceptance and underwriting policy.

Main Responsibilities

Treaty & Facultative Reinsurance Outwards

• Review and recommend improvement to the Company’s treaty program.
• Recommend and source for reciprocal exchange partners for the Company’s treaty business.
• Negotiate best terms and ensure timely placement of the Company’s treaty program renewal.
• Ensure that reinsurance is placed to obtain optimum reciprocity and at terms commensurate with the Company’s acquisition costs including expenses.

Treaty & Facultative Reinsurance Inwards

• Evaluate reinsurance inwards business (treaty, facultative and UOB regional business) as appropriate to clients' needs and in accordance the Company’s limits of acceptance and underwriting policy.
• Review and recommend for inward treaties renewal or new acceptance.

Reinsurance Operations

• Review and maintain treaty and facultative reinsurance guidelines of the Company.
• Ensure compliance with MAS’s requirements on reinsurance management.
• Ensure accurate and timely documentation of all reinsurance agreements including the accuracy of data pertaining to determination of GST.
• Provide technical guidance to the Company’s treaty accounting function.
• Develop and maintain statistical information for treaty and facultative reinsurance.
• Evaluate work procedures and recommend continuous improvements to maintain efficiency and cost-effectiveness.

Requirements

• Minimally Degree or equivalent.
• Possess BCP/CGI/PGI/HI Certification. ACII an advantage.
• Minimally 10 years’ experience in treaty & facultative reinsurance locally and/or regionally.
• Proficiency in Microsoft Office.
• Excellent customer-mindedness with good interpersonal and communications skills.
• Meticulous, organised and able to multi-task efficiently.
• Able to work well independently and in a team environment.