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About the Role:
We are looking for an experienced senior professional in Facultative Reinsurance to lead and strengthen the facultative reinsurance business. The role requires strong expertise in risk placement, underwriting assessment, client relationship management, reinsurer negotiations, and business development across complex and large commercial risks.
The ideal candidate will have an established network of domestic and international reinsurers, strong market knowledge, and the ability to drive profitable business growth while delivering effective reinsurance solutions to clients.
Key Responsibilities:
– Facultative Reinsurance Business: Lead the placement and servicing of facultative reinsurance business across multiple lines, including Property, Engineering, Energy, Marine, Casualty, and other specialty risks, as applicable.
– Business Development: Identify new business opportunities, develop strategic client relationships, and expand the facultative reinsurance portfolio.
– Risk Assessment: Evaluate complex insurance risks, review underwriting information, assess exposure profiles, and recommend appropriate reinsurance structures.
– Reinsurance Placement: Manage end-to-end placement of facultative risks, including preparing submissions, approaching reinsurers, negotiating terms, and securing competitive capacity.
– Reinsurer Relationships: Build and maintain strong relationships with domestic and international reinsurers, underwriting teams, and capacity providers.
– Negotiation and Structuring: Negotiate pricing, commissions, deductibles, exclusions, limits, and other policy terms to achieve commercially viable outcomes.
– Client Relationship Management: Work closely with insurance companies, corporate clients, insurance brokers, and other stakeholders to understand requirements and deliver tailored solutions.
– Portfolio Management: Monitor portfolio performance, placement success, profitability, client retention, and business pipeline.
– Claims Coordination: Support complex facultative claims discussions and coordinate with relevant stakeholders to facilitate resolution.
– Leadership and Team Development: Mentor and guide the facultative team, strengthen placement capabilities, and establish effective operating practices.
– Market Intelligence: Track global reinsurance market trends, capacity availability, pricing movements, and emerging risks to identify growth opportunities.
Required Experience and Qualifications:
– Extensive experience in the insurance and reinsurance industry, with substantial hands-on experience in Facultative Reinsurance.
– Demonstrated expertise in handling large, complex, and high-value facultative placements.
– Strong relationships with domestic and international reinsurers and insurance market participants.
– Proven track record in business development, client acquisition, portfolio growth, and commercial negotiations.
– Good understanding of underwriting, risk evaluation, reinsurance wordings, policy structures, and placement documentation.
– Experience managing senior client relationships and engaging with CXOs, insurers, and corporate risk stakeholders.
– Strong leadership, negotiation, analytical, and relationship management skills.
– Graduate or postgraduate qualification in a relevant discipline; professional insurance or reinsurance qualifications would be an advantage.
To apply for this job please visit www.iimjobs.com.
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