Senior Underwriter
Arabia Insurance Company
Total years of experience :14 years, 5 Months
Kuwait Reinsurance Company, Kuwait.
Assistant Underwriter Marine & Energy - (Onshore & Offshore). 2013- 2015
• Assisted in developing a new Marine & Energy portfolio.
• Knowledge of Upstream/Downstream Energy business and its products.
• Evaluated risks to determine proper premium, terms and conditions applied.
• Executed managerial reports within specified deadlines.
• Preparing reports through the Open Exposure System showing the risk exposure per region, country & installation.
Specific duties:
• Asses/analyze, calculate PML to establish an outcome accurately fits within the delegated authority and in accordance with KRe Energy underwriting guidelines for new and existing accounts "Onshore Accounts (Oil, Gas and Petrochemical risks) and Upstream/Offshore Accounts (Oil Rig’s & equipments, Control of Well, land rig physical damage, and offshore rig physical damage).
• Assist in underwriting Onshore & Offshore Energy facultative risks worldwide except North Sea, Gulf of Mexico.
• Analysing risk engineering reports and arriving at a conclusion regarding the quality of the risk, reviewing slip terms, ensuring that the cover sought is in line with the company treaty, calculating EML, Pricing risks etc.
• Managing exposures whereby accumulations / aggregations are carefully analyzed before accepting risks by using Open Exposure System which allows to determine the total exposures and analyse levels of risks by aggregating insurable interest by either location or insured object, and comparing them against a variety of live, historic risks.
• Analysing the performance of various categories of Energy risks over time and determining the profitability of each class, thereby shaping risk appetite in the long run.
• Maintaining healthy relationship with brokers / cedants and ensuring prompt delivery of service.
• Supervising reconciliation of various statements of account pertaining to different brokers and ensuring that the transaction is accounted for and is reflected in our database.
• Review policy content, terms & conditions, clauses and exclusions as well as loss ratio that affect reinsurance requirements or reconsidering the participation.
• Liaising with claims department on specific claims which require further investigation.
• Entries of new/renewal risks, and process payments on company’s system.
* Preparing the quarters statements of accounts for all types of insurance.
* Preparing Debits Notes & Credit Notes related.
* Preparing all Statistics for proportional & Non proportional treaties for all reinsurers & all treaties.
* Handling the Facultative Reinsurance (Inward & Outward) as well.
* Underwriting as per the terms of the Reinsurance Treaties & place business facultative basis where required including correspondents, premium closings & procedure files
* Establishing sound rapport & ‘buy in’ with key personnel whether internally, with local insurance or brokers companies as well as international reinsurers & brokers in order that strategy can be successful implemented & communicated
* Underwriting across all FGA classes of business including but not limited to the following: Energy, Engineering, Fire & Property, Business Interruption, Machinery Breakdown, General Accident, Workmen’s Compensation, Money & Fidelity
* Policy, cover note & documentation preparation
1. Provision timely, professional and efficient service to all customers to meet corporate service objectives.
2. Acknowledging receipt of loss advises with full supporting documents from cedant then study the claim and promptly informing reinsurers, each for their respective shares then Following up appointment of loss adjusters and claim surveyors to get the preliminary and final loss adjusters reports with the updates on reserves set aside for each claim and promptly advising reinsurers till claims settlements with reinsurers
3. Scrutinizing policy terms and conditions and ensure adjudication accordingly.
4. Assessing and evaluation coverage as it applies to the details of the loss.
5. Chasing cedant on quarterly basis for updated list of claims paid and outstanding totally with our records and records of reinsurers.
6. Preparation presentation for placing non-marine risks on facultative basis (this includes fire, engineering, and general accident risks)