Assistant Reinsurance Manager
Allianz Saudi Fransi Cooperative Insurance Company
Total years of experience :15 years, 1 Months
Managing treaties and facultative reinsurance for non life
• Coordinating with the brokers/sales executives/clients on day to day basis regarding their requests for quotations/firm orders/policy documents/endorsements and alike.
• Coordinating/corresponding with our global partners regarding fronting business - premium computation, applicable local taxes, reinsurance fees, policy issuance with respect to the local guidelines.
• Coordinating with the reinsurance department/reinsurers for facultative placement of business.
• Overseeing policy/endorsement issuance for Property, Casualty and Engineering Lines.
• Coordinating with the finance and collections departments for unallocated premiums and outstanding premium follow up and collection.
• Briefing the department manager regarding the work flow and bottle necks arising in the day to day business.
• Answering queries from the Insured regarding policy terms and conditions.
• Generating monthly reports for production upon request of the department manager/management.
• Generating monthly renewal notices and advising the department manager for any changes in terms & conditions, rates & deductibles with respect to any particular client and sending them to the respective brokers/sales executive/clients and follow up.
Reinsurance Specialist
▪ Closing monthly, Quarter and annual Treaty accounts: Non-life, Life & Medical & reconciliation of the same with Reinsurer and Finance on monthly and quarterly basis
▪ Monitoring PPW settlements and to ensure payments are timely effected to Reinsurers by the Finance Department including MDP when due.
▪ Calculating Treaty Commissions based on Sliding Scale and maintaining records
▪ Calculations of Profit commission for applicable treaties end of each treaty year & follow-up with RI.
▪ Preparation of treaty statistic, Risk Profiles, Claims Triangulations and all other relevant reports required for treaty renewal
▪ Discussions/Negotiations with Reinsurers/ Brokers in coordination with CRO / CEO
▪ Finalizing of Cover Notes / Treaty Wordings
▪ Constant review of Treaty results & updating the Management
▪ Monitoring the allocations of policies / endorsement / Claims are as per treaty conditions.
▪ Obtain confirmation from RI's for special acceptances and coordinate with departments
▪ Communicating Large Losses (Claims exceeding Loss Limits) to the Reinsurers and arranging Cash Call wherever necessary
▪ Negotiating and placing non-life business with Facultative Reinsurers as per the approved panel
▪ Upon Firm Order binding cover with the reinsurers and following up with the underwriters on policy issuance as per the reinsurance terms and conditions
▪ Maintaining healthy and growing relationship with the existing panel of reinsurers and building contacts with new reinsurers
▪ Monitoring and updating the underwriting standards and guidelines
Masters' in Business Administration with Finance as major and Marketing as minor subjects of study