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Reinsurance Technician

3 months ago

London, Greater London, United Kingdom Eden James Consulting Ltd Full time

Reinsurance Technician

London

Circa £55,000 + Excellent Benefits**We are currently recruiting for a Reinsurance Technician on behalf of our client, a highly regarded and very well-known Lloyd's/London market business.


The key purpose of the role is the collection of the company's reinsurance asset through accurate calculation and issuance of recoveries, commutations, and liquidation management techniques.


Key Responsibilities

  • Effectively implement procedures for accurately calculating the reinsurance asset and issuance of reinsurance recoveries.
  • Calculate of reinsurance recoveries as required.
  • Assess the viability of releasing individual reinsurance recoveries.
  • Prepare reinsurance billings and loss advices as required.
  • Record and answer technical queries raised by reinsurers and/or brokers.
  • Assist with Credit Control to ensure timely collection of outstanding balances.
  • Assist with and handle commutations as required, ensuring realistic values for the commutation of the company's gross liabilities and ceded assets are achieved.
  • Complete and report on projects as allocated.
  • Ensure effective and timely reporting as required.

Key Requirements

  • At least 2 years experience within Reinsurance Technical Issuance, with experience of reinsurance recoveries calculations.
  • Project management and risk management techniques.
  • An understanding of international insurance market operations, with particular regard to runoff.
  • Knowledge of market procedures for the settlement of Lloyd's and Non-Lloyd's balances.

Keywords:
Reinsurance Technician; Reinsurance Recoveries; Lloyd's Market; London Market; Lloyd's Syndicate