Senior Ceded Reinsurance Specialist

3 days ago

Noida, Uttar Pradesh, India beBeeCedant Full time ₹ 75,00,000 - ₹ 1,15,00,000
Job Role

This position requires leadership on ceded reporting, focusing primarily on external reporting for regulators and reinsurers, as well as internal reporting.

Ceded Reinsurance Regulatory Reporting
  • Annual cat and TRIA regulatory returns are prepared, including obtaining exposure and premium figures from available reinsurance systems.
  • Bermuda cat regulatory reports record CAT cover provided in reinsurance contracts by territory.
  • AM Best ILS/ILW annual regulatory returns involve posting limits available on this type of reinsurance contract.
  • Collaboration with the ceded placement team ensures review and sign-off of these regulatory reports.
Ad Hoc Claim Responses
  • Netting down large claims involves reporting back on net positions and associated reinsurance recoveries from Facultative, Quota share, and Excess of loss reinsurance placements.
Reinsurance Collateral Management
  • Quarterly management of collateralized excess of loss placements includes:
    • Establishing ultimate gross ceded losses to collateralized reinsurers.
    • Calculating ultimate reinsurance recoveries and applying loss buffer weightings as per outwards reinsurance contracts.
    • Calculating and establishing trapped collateral.
    • Attending quarterly collateral committee meetings for sign-off of collateral amounts to be released back to reinsurers.
    • Preparing collateral release documentation and facilitating relevant sign-offs and bank call back procedures.
    • Maintaining a spreadsheet containing details of released, drawn down, and remaining collateral.
Stop Loss Reinsurance Contract Management
  • Key stop loss reinsurance contracts are managed, including contract entry into policy administration systems, quarterly assessments of ultimate loss values/ratios against reinsurance cover, and management of associated collateral.
  • Collaboration with clients' reserving teams establishes:
    • Ultimate ceded losses to stop loss contracts.
    • Stop loss attachment points and limits based on ULR.
    • Ultimate reinsurance recoveries if any.
    • Periodic trapped collateral releases.
Whole Account Quarterly Reporting
  • Preparation and management of quarterly reporting on ultimate gross and net views on whole account quota shares to various counterparties.
Support to Broader Offshore Team
  • Assistance with month-end and quarter-end processes, particularly quarterly QS statements, sending to brokers, and arranging payments.
  • Credit control.
  • Calculation of XOL and Facultative reinsurance claims.
  • Support for various projects and change activities.
  • Regular team meetings attendance.
  • Performance of tasks usually handled by other Ceded Re teams to allow them to work on projects.

Key required skills include:

  • Past experience in ceded re applications and processes.
  • Strong reporting and analytical skills.
  • Relevant experience in collateral calculations and cat stop loss contracts is desirable.
  • Strong Microsoft application skills, particularly Excel.
  • Ability to read and interpret reinsurance contract wordings.
  • Effective communication.
  • Knowledge of Airtable is advantageous.
  • Ability to manage time and tasks to meet key deadlines and SLAs.

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