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Senior Officer Reinsurance

8.00 to 15.00 Years   Doha, Qatar   18 Apr, 2023
AL KOOT INSURANCE & REINSURANCE CO.
1 Jobs Openings
Job LocationDoha, Qatar
EducationBachelor's degree / higher diploma
SalaryNot Mentioned
IndustryInsurance & TPA
Functional AreaNot Mentioned

Job Description

Position : Senior Officer Reinsurance˙Section : General InsuranceCompany : Al Koot Insurance & Reinsurance CompanyLocation : Doha, QatarExperience : 10-12 years? experience in insurance business with at least 3-5 years in similar roleNo of resources : 1ROLE PURPOSE:Responsible for managing all the existing treaties for General Insurance and Medical & Life Divisions. Coordinate constantly with the respective UW divisions to adhere to their request for any new treaty. Work closely with the Reinsurance Manager to carryout all the activities of Reinsurance function.˙KEY ACCOUNTABILITIES:Reinsurance

  • Formulate reinsurance related strategies and arrangements in coordination with Reinsurance Manager.
  • Placement of annual reinsurance treaty contracts with reputed reinsurance companies, locally and/or internationally.
  • Monitoring performance of participating reinsurers, throughout the year, and conveying any adverse development to the Reinsurance Manager and take appropriate action.
  • Maintain accurate physical & electronic storage of all Slips, Endorsements and data/notes relating to Re-insurance
  • Compile data related to claims and underwriting to determine reinsurance eligibility.
  • Review facultative process, standard slips and sample review to ensure all facultative reinsurance is in line with RI Policy with respective underwriting and claims department periodically in line with RIM instructions and identify any gaps and suggest improvements
  • Work with claims to determine eligibility, incorrect processing and correction strategy.˙
Reinsurance Program / Structure
  • Review reinsurance structure to ensure that all risks are covered, shares of risks are divided according to pre agreed set up, and premiums are properly accounted for.
  • Evaluate the reinsurance program of Al Koot on a regular basis in order to monitor its strengths and weaknesses and make the necessary recommendations for improvement of the program.
Reinsurance Treaties
  • Gather, analyse and recommend potential reinsurance offers? and treaties.
  • Develop reinsurance treaties and manage reinsurance technical/financial data gathering.
  • Design the Reinsurance program including treaties, structure and allocation of shares among reinsurers.
  • Receiving Special Acceptance requests from various UW teams and passing it on to treaty underwriters for special acceptance.
  • Monitoring the treaties during the year to evaluate the performance at quarterly and half yearly basis.
  • Preparation of treaty statistics prior to renewal for onward submission to RI Manager.
  • Preparation of Quarterly Bordereau for all proportional treaties and any other reports as required by respective treaties
  • Setting up all the treaties in the system as and when they are renewed.

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