Senior Executive Reinsurance
Malath Cooperative Insurance & Reinsurance Company
Total years of experience :22 years, 1 Months
• Maintaining excellent business relations with local, regional International Brokers, Insurance & Reinsurance Companies.
• Believe in placing the business on direct basis instead of get it placed through broker.
• Monitoring of reinsurance placements and ensuring that the reinsurance provisions and warranties are strictly adhered in our placements in accordance with the applicable Laws and as per best practice in the Industry.
• Fine tuning of facultative placement slips to include all essential features of risk, loss history etc and to follow policy and procedures of our Reinsurance Manual.
• Place the facultative reinsurance business of the Company with the securities ratings required by SAMA.
• Experience in placing Hazardous risks like Plastic, Paper & Foam Industries.
• Scrutiny of policy wordings and placement slips to ensure conformity to the terms of placement agreed with the reinsurers.
• Advise facultative reinsurers (and keep them posted with progress) of claims triggering or likely to trigger loss advice limits / cash call limits or other limits agreed upon in the various reinsurance contracts.
• Helping finance department in processing reinsurance recoverable / payables for facultative agreements.
• Supervise in preparation of:
• Statement of account for various reinsurers on monthly / quarterly basis.
• Various analytical reports/ statistics for the renewal of facultative reinsurance accounts.
• Maintaining complete information on facultative reinsurance arrangements.
• Respond to the various queries raised by underwriters, reinsurers and reinsurance brokers on timely basis.
• Conduct Technical Audits on all facultative policies issued by Regions to ensure that all conditions applied are strictly adhered to.
• Supporting the Regional and HO underwriters / Claims / Finance Team for the smooth functioning of company’s operations.
• Provide the requested periodical reports to facultative reinsurers on all lines of business as per agreements and work with the Senior Manager-Reinsurance on the development of the technical expertise of the staff and on other Ad hoc tasks as may be assigned from time to time.