Regional Reinsurance UW Manager
AXA Insurance
Total years of experience :24 years, 5 Months
- Preparation for data for treaty renewals (PEN Risk, PEN CAT and Marine lines)
- Managing the placements of Reinsurance treaties for Property and Marine lines
- Arranging and negotiating the fac placement for property lines
- Validating the list of reinsurance - ensure that they meet the minimum rating requirements
- Reporting to the management on the treaties terms and conditions
- Managing the team of 3
• Managing reinsurance (Facultative / Treaty) receivables and payable
• Reconciliation of reinsurance receivables and payables
• Formulating the reinsurance policies for payments and receivables
• Accounting of reinsurance reserves and releases with respect to proportional treaties
• Checking and booking of XOL claim recoveries.
• Coordinating with reinsurers and technical team for cash call and claim recoveries
Facultative Reinsurance:
o Approving the list of facultative placements to ensure that the placement complies with the group’s standards.
o Generating Facultative closings and communicating to the facultative reinsurers on periodic basis
Treaty Reinsurance:
o Providing statistics for treaty renewals (both Proportional & Non-Proportional).
o Treaties for all lines of business wiz; Property, Casualty, Marine, Medex & Life
Calculation of XOL premium, XOL claim recovery and its reinstatement premium
Managing reinsurance (Fac out) receivables and payable.
Reconciliation of Reinsurance balances.
Monthly and quarterly reporting to the group and various other reinsurers.
Co-ordinating with accounts for payments.
Monitor customer receipts and reinsurance receipts through Bank transfers and completion of monthly accounts receivable closure activity.
Monitor ageing of receivables and initiate the process to ensure timely collection and accounting of receivables.
Reconciliation of customer balances and intercompany balances, interact and co-ordinate with customers, brokers, agents and other insurance companies for reconciliation and settlement of accounts.
Manage and Monitor client master database, including creation and updation
Monitor accounting of all payment transactions, reinsurance accounting and payment of reinsurance payments.
Ensure reconciliation of bank accounts and identification of unreconciled items; make the rectifications for the same.
Monitor bank balances, manage bank correspondence and bank transfer letters.
Follow up with branches with regard to deposit of cheques and outstanding payments/receipts.
Calculation and accounting of XOL recoveries, XOL premium (MDP, Adjustment & Reinstatement)
Preparation and finalization of financial accounts on monthly basis
Various MIS which the top management may require from time to time.
Managing the Finance MIS team.
Laisoning with Auditors
Submission of statutory reports to various government authorities and department
Preparation of budget & analyse for variance with actual.
Identifying system changes and specify the requirements to the IT department.
Managing complete accounts & finance operations for Leisure Travel In-Bound and Forex.
Submitting fund requisition for the day’s operation.
Proficient in managing various income & service tax matters.
Independently handling all accounts.
Liasoning with auditors, various govt. departments including, Service Tax etc
Handling entire activities of the accounts department including finalization of accounts
Liasoning with statutory authorities such as Income tax, Sales Tax, Service Tax, Excise & Customs Duty etc.
Interfacing with Internal and external auditors.
Reconciliation of bank accounts and customer accounts
Periodic reporting to various statutory bodies
o Internal Audit of Corporates to ensure proper internal control and adherence to internal and policies and procedures.
o Stock Audit for Banks
o Revenue Audits of Banks
Responsible for the internal audits of large corporates
Managing activities of the accounts Department including finalization of accounts.
Liasoning with statutory authorities such as Income tax, Sales Tax, Service Tax, Excise & Customs Duty etc.
Coordinating with the internal and external auditors for smooth auditing operations.
Worked as an Audit Trainee while undergoing Chartered Accountancy Course. The various audits carried out this period are
Ensuring statutory compliance pertaining to direct & indirect tax matters
Conducted Statutory and Tax Audit of Proprietary Concerns, Companies & Firms.
Performing Internal Audit of Co-operative Societies and Share Brokers
Undertook Stock and Receivables Audit of Banks.