Reinsurance Administrator
Reinsurance Administrator | Insurance | Gibraltar | Salary c£30,000 (depending on qualifications and experience) plus benefits | Hybrid working option
Reinsurance Administrator required for an established Insurance company based in Gibraltar.
You will be responsible for reinsurance matters with the responsibility for the upkeep of reinsurance and relevant administration work.
The role will involve coordination of annual profiling of Underwriting and Claims information for Reinsurance Treaty Renewals plus amending policy wording and materials as required by the business's needs.
The Reinsurance Administrator role will also include some insurance accounting responsibilities and ensuring adherence to consumer duty principles.
What's on offer to you?
- Life Insurance
- International Health Insurance
- Travel Insurance
- Performance Bonus
- Summer Hours
- Payment of membership fees for professional institutes (CII)
- Sponsorship on training related to the line of work
- Generous education incentives and awards for continuous professional and personal growth
- EAP - Employee Assistance Program
What You Will Be Doing
- Responsible for monitoring the risk accumulation and relevant administration to keep updated.
- Co-ordinate amendments of all documentation as required (e.g., proposal forms, claims forms etc).
- Provision and development of management information from underwriting systems.
- Conduct Underwriting and Claims reviews, including MGAs with delegated authority.
- Support Finance with reinsurance accounts reconciliation and financial reporting.
- Ensure compliance with consumer duty regulations, focusing on delivering fair outcomes for consumers and addressing their needs effectively.
- Provide technical reinsurance assistance and placement of reinsurance as required.
- Support the preparation of financial statements related to reinsurance and underwriting activities.
- Ensure all processes and documentation meet consumer duty standards.
- Maintaining and reviewing the rating and underwriting manuals.
- Responsible for facultative placements and quotes, special acceptances, management of reinsurance documents, monitoring risk aggregation, and liaising with stakeholders when required.
- Co-ordinate, prepare, and submit reinsurance renewal information within the agreed time frames.
- Conducting and managing the underwriting audits.
What You Will Need to Succeed in This Role
- Extensive experience in the insurance industry, with a strong understanding of various types of reinsurance, including proportional, non-proportional, facultative, and treaty reinsurance.
- In-depth knowledge of reinsurance structures, principles, and market practices.
- Proficiency in insurance accounting principles and practices, including the ability to analyse and interpret financial statements related to reinsurance.
- Familiarity with consumer duty regulations and Insurance Product Information Document (IPID) requirements.
A thorough understanding of the theory behind these regulations is accepted. - Exceptional attention to detail, ensuring accuracy in all aspects of reinsurance management.
- Strong problem-solving skills, with the ability to identify and address complex issues effectively.
Keywords: Reinsurance Lead | Gibraltar | Underwriting | Insurance Risk | Claim Reviews
- Start: ASAP
- Duration: Permanent
- Rate: Competitive salary plus benefits
- Location: Gibraltar
- Type: Permanent
- Industry: Other
- Recruiter: SRGEurope
- Contact: Angelique Pearson
- Tel: 0207 183 6462
- Email: to view click here
- Posted: 2024-07-24 15:45:36 -
- View all Jobs from SRGEurope
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