Senior Reinsurance Technician

4 weeks ago

London, Greater London, United Kingdom Munich Re Specialty Group Full time

Position Overview

As a Senior Reinsurance Technician specializing in Ceded Reinsurance, you will play a crucial role in managing various facets of reinsurance transactions for the Syndicate. Your responsibilities will encompass:

  • Overseeing all elements of reinsurance acquired by the Syndicate.
  • Assisting in the quarterly Reinsurance closing process in accordance with the Syndicate's Procedures Manual.
  • Participating in meetings and discussions related to Reinsurance, Claims, Underwriting, and brokers as necessary.
  • Authorizing claim and premium transactions on LORS, ensuring accurate allocation of resulting USM cash entries within the Reinsurance System.
  • Gaining a comprehensive understanding of the Syndicate's Reinsurance system.
  • Gathering recovery statistics upon request.
  • Providing support in calculating and advising on premium adjustments.
  • Assisting in the calculation and advisory of profit commissions owed.
  • Maintaining detailed records of all significant communications with brokers and other stakeholders, adhering to the firm's procedures manual.
  • Taking an active role in resolving any reinsurance disputes that may arise.
  • Compiling information for audits, both internal and external, as required.

Required Knowledge and Skills

  • Capability to fully assist the Ceded Re RI recoveries manager in all aspects of the Syndicate's Reinsurance processes.
  • Ability to mentor and instruct junior members of the Ceded Re Team.
  • Proficient understanding of all Non-marine and Marine classes of business.
  • Familiarity with Non-proportional, Proportional, and Facultative Reinsurance processing.
  • Basic knowledge of all related Syndicate disciplines.
  • Strong independent problem-solving skills with minimal guidance.
  • Experience in London Market outward Reinsurance processing, preferably gained within a Lloyd's Syndicate or London Market Company.
  • Solid data analytics skills for both internal and external reporting.

If you are enthusiastic about this opportunity but feel your experience does not perfectly match every requirement, we encourage you to consider applying. You may be the ideal candidate we are seeking.

Diversity, Equity & Inclusion

At Munich Re, we believe that embracing diversity is fundamental to our identity. We recognize that diversity fosters resilience and innovation, enabling us to fulfill our mission of helping humanity to act braver and better. We are committed to creating a diverse workforce that encompasses a wide range of backgrounds and experiences.

Your Career with Us

At Munich Re Specialty – Global Markets, you will find the support, development, and flexibility necessary to advance your career, along with a competitive salary and a benefits package that promotes well-being and work-life balance. Our offerings include a non-contributory pension, private medical care, life assurance, and more.

Together, we strive to be an employer of choice, building a workforce that meets the needs of today and the future.

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