Assumed Reinsurance Technician

Sompo International; Greater London; On-site; GBP 45,000 - 65,000; Full time

Benefits offered by this job

Health & Wellness Benefits

Retirement & Savings Plans

Global Parental Leave

Tuition Reimbursement

Job summary

Sompo International is looking for an Assumed Reinsurance Technician to join our ARA team in London. This position involves undertaking Technical Accounting analysis for Inward Proportional treaties and collaborating with the Claims Department.

The ideal candidate will have strong technical skills, experience in the Inward reinsurance market, and proficient Excel skills. We offer competitive compensation and a diverse work environment where employees can thrive.

Qualifications

• Strong technical skills and ability to prioritize workload to meet deadlines.
• Understanding of general insurance and reinsurance principles is essential.
• Experience in a similar processing role within the Inward reinsurance market.
• Excel skills at intermediate level (Pivot tables & Vlookup formula) are essential.

Responsibilities

• Undertake Technical Accounting analysis and processing for Inward Proportional treaties.
• Review & check accuracy of closings/documents of rendered accounts.
• Collaborate with Claims Department on Inward Proportional treaty claims.
• Produce & analyze Weekly, Monthly & Quarterly reports.

Skills

Technical skills

Understanding of insurance principles

Excel skills

Experience in Inward reinsurance

Knowledge of Bureau systems

Tools

SAP Accounting system

Genius

Imageright

Job description

Job Description

Are you looking for your next opportunity?

Sompo has a unique opportunity for a (Assumed Reinsurance Technician) in our (ARA) team.

This team works within the Reinsurance Operations team and deals mainly with (inwards) Proportional business. This position reports to the Assistant Vice President, Assumed Reinsurance Accounting Supervisor.

Location: This position will be based out of our (London) office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.

Our business, your impact, our opportunity:

What you’ll be doing:

• Undertake Technical Accounting analysis and processing for Inward Proportional & some aspects of Non-Proportional treaties


• Review & check accuracy of closings/documents of rendered accounts, cash calls, premium and loss reserve deposits; event claims management and tracking


• Process tasks/accounts accurately in an efficient manner by month end deadlines


• Collaborate with Claims Department on Inward Proportional treaty claims (inc event tracking)


• Demonstrate high level of attention to detail by producing exceptional quality and accurate technical data, when processing the technical accounts onto the Underwriting system –updating the system with accounting and payment information within agreed timeframes


• Timely investigation and resolution of challenging accounts is expected


• Collaborate with Internal and external clients to resolve any queries or technical issues


• Ensure overdue/late accounts are followed up and escalated to management


• Produce & analyze Weekly, Monthly & Quarterly reports as part of the close process


• Ad hoc tasks

What you’ll bring:

• Strong technical skills and ability to prioritize workload to meet deadlines




• Understanding of general insurance and reinsurance principles is essential




• Understanding of clean cut accounts (portfolio in and out) is essential




• Understanding & review profit commission/sliding scale calculations is essential




• Experience in a similar processing role within the Inward reinsurance market




• Understanding of Proportional Treaty claim handling and event claims is desirable




• Good understanding of Bureau systems and procedures is desirable




• Knowledge of Property, Casualty, and Marine business classes desirable but not essential




• Understanding of Genius and SAP Accounting system is desirable but not essential




• Knowledge of Imageright is desirable but not essential




• Excel skills at intermediate Level is essential (Pivot tables & Vlookup formula)

At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.

Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.

We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents.

Below is a summary of some of the benefits we offer, which may vary depending on the country:

• Health & Wellness Benefits


• Retirement & Savings Plans


• Global Parental Leave & Adoption Assistance


• Employee Assistance Program


• Tuition Reimbursement & Professional Qualification benefits

Who we are and what we stand for:

At Sompo, our shared purpose is to create meaningful value for clients, communities, and each other. We strive to foster a workplace where everyone feels respected, included, and empowered to excel. As a global organization, we embrace diversity and champion equal opportunity. Guided by our core values—Accountability, Agility, Collaboration, Development, and Integrity—we build trust and support one another to achieve our goals worldwide. Life at Sompo page

Our values come to life in how we hire and grow talent. Employment decisions are based on qualifications, merit, and organizational need, and we strive to ensure equitable access to opportunities so everyone can do their best work. If you need an accommodation for any part of the application process, please contactthe recruiter in charge.