Reinsurance Officer Job Opportunity at UAP Insurance
To monitor the various reinsurance arrangements including treaty and facultative reinsurance protection for all classes of business written by the company in line with the companies operating manuals.
Key outputs
The following key outputs are required from this role.
- To perform routine reinsurance administrative duties, such as maintaining records.
- To verify and process payments for reinsurance companies by providing status reports on payments.
- To organize and prepare monthly and quarterly reports on reinsurance
- To record reinsurance information accurately.
- To perform reconciliation of premium billing statements, WHT tax calculations and maintain various reinsurance registers.
- To provide guidance to underwriting, claims and finance teams on reinsurance.
- Train new staff on the Reinsurance product
Deliverables (work elements)
The following detailed outputs are required from this role.
- To analyze the risks accepted and ensure risks are yielded properly
- To obtain all necessary underwriting information required to place the risk in the reinsurance market.
- To arrange proper reinsurance protection as and when required
- To manage the administration of the reinsurance activities
- To monitor timely submission of closing and accounting documents as well as for settlement of premium recovery of claims from reinsurers
- To maintain accuracy of reinsurance contracts with reference to original terms at which reinsurance is accepted
- To maintain efficient communication lines between the company and brokers
- To prepare reinsurance underwriting and claims statistics on a regular basis and update the same at periodic intervals as per requirements.
- To review reinsurance payments/recoveries relating to reinsurance premium, commissioning and claims
Skills
Education
Bachelors Degree (B): Mathematics With Acturial Studies (Required)
Closing Date: 31 May 2024
