Job Vacancies

  • Industry: Reinsurance
  • Location: Beirut, Lebanon
  • Employment type: Full Time
  • Assist the Managing Director in the development of business strategies relating to the Company’s reinsurance arrangements and in heading the reinsurance unit.
  • Ensure that the Company has constantly adequate cover through existing arrangements and recommend new covers through developing ‘As-If’ models to optimize the reinsurance program.
  • Participate in the negotiation of best reinsurance terms & conditions to the benefit of the Company.
  • Participate in new life/medical products development in close coordination with reinsurers.
  • Supervise the life department and prepare the actuarial report twice per year for the life reserve study.
  • Prepare the non-life/Medical treaties’ renewal booklet comprising all information and data required by reinsurers.
  • Review, approve and sign reinsurance arrangements and co-sign treaties’ schedules & wordings.
  • Prepare and distribute reinsurance treaties summary to other departments within 1 week as from the beginning of the u/w year.
  • Monitor Treaties’ performance, accumulation aggregates and underwriting compliance with treaties’ terms & conditions; and report key findings to the Managing Director for discussion and necessary action.
  • Provide reinsurers with quarterly data as dictated by treaties’ conditions within set deadlines.
  • Administer the special acceptance requests received from Marketing and Underwriting Departments.
  • Monitor, and when needed participate in, canvassing the reinsurance market for best terms & conditions in respect of new & renewal of facultative placements and supervise (prepare when needed) the corresponding slips, premium closings, and amendments.
  • Prepare loss notifications to treaty reinsurers, compile required documents from concerned departments and follow up throughout the process of claims’ approval and settlement by reinsurers.
  • Monitor proper and timely claims notification to Facultative Reinsurers especially when Claims Control/Cooperation Clauses are in force and make sure that reinsurers are fully informed in coordination with the reinsurance supervisor.
  • Receive from Finance Department reinsurers/reinsurance brokers statements of accounts to be revised and co-signed with them prior to settlement.
  • Follow the facultative inward business procedure
  • Act as buffer between assigned clients and the concerned departments.
  • Assist on all operations (u/w, claims & accounting) relating to Overseas Accounts ( when needed).
  • Maintain satisfactory relationships with reinsurers and reinsurance brokers.
  • Follow the reinsurance market trends and identify new opportunities.
  • Monitor reinsurers’ ratings, publications, news, etc… and maintain an up-to-date list of automatic security list approved by the Managing Director.
  • Oversee and participate in maintaining an up-to-date Wordings/Clauses & Proposal Forms database and ensure that it caters for the needs of the Underwriting/Marketing departments.
  • Monitor the performance of subordinates and report progress to the Managing Director.
  • Ensure proper referencing/filing system is established and well-maintained as per Company’s standards.
  • Bachelor’s degree in Actuarial Sciences or relevant field
  • Fluent in English & Arabic. French is a plus.
  • Minimum of 5 years of experience required in Reinsurance
  • Strong Critical Thinking
  • Ability to independently interpret reinsurance treaties
  • Analytical Skills
  • Interpersonal skills
  • Effective Communication Skills (written and oral)
  • Presentation Skills
Posted on: 29 March 2022
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+961 3 970522
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