Assistant Manager Reinsurance from 2015
Continental Insurance Lanka Limited ( General Insurance)
Total years of experience :7 years, 11 Months
Facultative/Coinsurance Placements
Obtaining the outward Facultative & Coinsurance support by approaching local and international insurance /reinsurance markets in line with the guild lines and policies of the Company and get the optimum output to the Company.
Reviewing the inward coinsurance requests & finalizing those under supervision of the company’s senior authorities.
Supervising to preparation of Facultative, Coinsurance slips and endorsements for direct re/co insurance placements and preparing those as may be required time to time.
Following up with the reinsurance brokers for broker cover notes in respect of Facultative placements.
Supervising of arranging due premium to reinsurers/coinsures by complying with the premium payment warranty & maintaining the register to following-up with them.
Treaty Placements
Renewing of the company Proportional & Non Proportional treaties together with Deputy General Manager Technical & preparing Treaty statistics on Run-off & Cut-off basis, Risk Profiles, Loss Profiles, CRESTA reports & XOL treaty details etc.
Reviewing the treaty cover notes prepared by the Treaty Brokers & ensure that slips are in order with the agreed coverage & company requirements.Also preparing the treaty cover notes to the National Insurance Trust Fund, Sri Lanka in respect of the compulsory cession as per the local regulation.
Preparing of reports such as XOL adjustment, Portfolio transfer, Profit commission calculation etc.
Preparing of quarterly Treaty Bordereaux Accounts Statements in respect of Proportional Treaties & submit to the reinsurers & arrange the payment to them promptly.
Preparing monthly Non Motor premium bordereaux & claim bordereaux under Fire & Engineering, Miscellaneous, Marine Cargo & Health(including overseas Health) reinsurance arrangements & submit to the finance department with in first 02 working days of each month to finalize the monthly financial statements.
Reinsurance and Coinsurance Claims
Keeping records for claims up to date with the current reinsurance position and work with reinsurers/coinsurance on contentiously to ensure a successful outcome.
Supervising of Intimation of facultative / coinsurance claims with in the agreed time period by coordinating with the company claims department.
Supervising to Preparing of cash calls together with other relevant documents for Proportional, Non proportional treaty, Facultative & Coinsurance claim recoveries.
Compliance
Monitor the usage of reinsurers to ensure the placements are done with only those financially capable to meet their obligations according to the Insurance Regulatory Commission of Sri Lanka’s guidelines.
Preparing of quarterly returns on all reinsurance placement & sending to the Insurance Regulatory Commission of Sri Lanka.
Make sure to place the 30% reinsurance compulsory cession to National Insurance Trust Fund as per the guidelines of the Insurance Regulatory Commission of Sri Lanka.
Preparing of the monthly reports on SRCC and Terrorism premium and sending to National Insurance Trust Fund and arrange the payment to them promptly as well as coordinate with them for the claim recoveries at the time of claim.
Communication and Reports
Maintains successful relationship with local, regional and international insurance and reinsurance companies and brokers to achieve an optimal reinsurance position on all lines of business.
Responds to queries from reinsurers, reinsurance brokers, auditors and participating companies.
Ensure that reinsurance documentation is robust and maintained & review reinsurance documents for completeness in accordance with negotiated terms and conditions.
Preparing of MIS reports under Reinsurance to the company management
* Directly involved in conducting Accounting assignments including Accounting system Implementation using Accounting Software and preparation of Financial Statements in accordance with stipulated Accounting Legislations.
*Carried out Statutory Audits, Interim Audits, Internal Audits and Special Assignment in diverse sectors of the Economy.
Licentiate Level Examination in 2013