Insurance Reinsurance Operations Specialist

2 days ago


Noida, Uttar Pradesh, India EXL Full time
Job Description

This role provides lead on ceded reporting, external and internal, for regulators and reinsurers. As part of broader Ceded Re Operations, this position will also support other administration activities.

  • Ceded Reinsurance Regulatory Reporting: Annual Cat and TRIA reports, including obtaining exposure and premium figures from reinsurance systems, reading through contracts, and recording Terrorism and other exposures.
  • Ad Hoc Claim Responses: Netting down large claims, reporting net positions, and associated reinsurance recoveries.
  • Quarterly Management of Collateralized Excess of Loss Placements: Calculating ultimate reinsurance recoveries, applying loss buffer weightings, establishing trapped collateral, attending meetings for sign-off, preparing documentation, and facilitating bank call backs.
  • Quarterly Stop Loss Contract Management: Managing key stop loss contracts, assessing ultimate loss values, managing associated collateral, and collaborating with clients to establish ultimate ceded losses, attachment points, and limit-based releases.
  • Whole Account Quarterly Reporting: Preparing and managing quarterly reporting on ultimate Gross and Net views, collating information from Reserving, Finance, and Operations, and sending statements to brokers and arranging payments.
Key Responsibilities
  • Regulatory Reporting: Reading through reinsurance contracts, recording Terrorism and other exposures, working with the ceded placement team, and reviewing and signing off on reports.
  • Ad Hoc Claim Responses: Netting down large claims, reporting back on net positions, and associated reinsurance recoveries arising from Facultative, Quota share, and Excess of loss reinsurance placements.
  • Collateral Management: Establishing ultimate gross ceded losses to collateralized reinsurers, calculating subsequent ultimate reinsurance recoveries, applying loss buffer weightings, establishing trapped collateral, and releasing funds held in trust.
  • Stop Loss Contract Management: Assessing ultimate loss values, managing associated collateral, and collaborating with clients to establish ultimate ceded losses, attachment points, and limit-based releases.
  • Whole Account Reporting: Preparing and managing quarterly reporting on ultimate Gross and Net views, collating information from Reserving, Finance, and Operations, and sending statements to brokers and arranging payments.
Requirements
  • Past experience with Ceded Re applications and processes.
  • Strong reporting and analytical skills.
  • Relevant experience in Collateral calculations and Cat stop loss contracts is desirable.
  • Strong Microsoft applications 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 deadlines and SLAs.
Salary Range:

$120,000 - $180,000 per annum.



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