Reinsurance Broker

JR United Kingdom; London; On-site; GBP 40,000 - 60,000; Full time

Job summary

A leading Africa-focused reinsurance broker is offering a dynamic opportunity for a reinsurance broker in London. The role involves placing and managing reinsurance business, negotiating market terms, and ensuring compliance with industry standards. Candidates should have a minimum of 1 year of experience in the insurance sector, with CII qualifications preferred. Join a vibrant team committed to excellence and growth.

Qualifications

• Minimum 1 year of experience in the insurance industry.
• Preferred: experience in Aviation, Casualty, and Property classes.

Responsibilities

• Place new and renewal reinsurance business.
• Handle broking-related queries and administrative tasks.
• Negotiate market terms and manage stakeholder relationships.

Skills

Negotiating

Relationship Management

Market Analysis

Education

CII qualifications or equivalent

Job description

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Looking to join a dynamic Africa-focused reinsurance broker offering hands-on experience, diverse business exposure, and global travel opportunities?

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Role Overview

Key tasks include but are not limited to:

1. Placing new and renewal reinsurance business for AAIS’s local offices, clients, and producers.
2. Handling all broking related queries promptly, including endorsements, NOC’s, declarations/bordereaux, and premium/claims queries as needed.
3. Building and managing relationships with stakeholders such as colleagues, clients, markets, and surveyors.
4. Negotiating market terms, analyzing exposures, and market appetites.
5. Developing knowledge of markets and their risk appetite to place more reinsurance business.
6. Increasing facultative business shares from current clients.
7. Assisting with product training and new business development in the allocated office.
8. Handling administrative tasks promptly and accurately, including EOC’s, cover notes, debit/credit notes, closings, and bordereaux.

Position in the Organisation

The job holder reports directly to the Head of Facultative Reinsurance, or in their absence, to a Director or Senior Reinsurance Broker.

Key Measures of Success

• Achieving a renewal rate of over 95% on allocated renewals.
• Meeting new business targets.
• Growing the renewal book by 20% for the local office.
• Timely and accurate risk placement in the market.
• Timely issuance of documents to clients.
• Compliance with FCA guidelines, SOPs, and internal policies.
• Achieving team targets for facultative business.

Areas of Responsibility

• Maintaining accurate records of renewals and new business.
• Fostering a collaborative team environment.
• Managing key market and client relationships.
• Identifying new market, product, and business opportunities.
• Sending out renewal invites at least 30 days before expiry.
• Sending client documentation within 2 weeks of binding.
• Sending signed slips to clients within 24 hours of receipt.
• Analyzing markets for optimal risk terms.
• Submitting, analyzing, and negotiating risk placements and quotes.
• Overseeing documentation issuance.
• Managing workflow efficiently.
• Providing comprehensive service to facultative clients throughout the year.
• Adhering to internal policies, procedures, and training requirements.
• Ensuring effective account handover during leave.

Candidate Requirements

• Minimum 1 year of experience in the insurance industry.
• Preferred but not required: PVT, Aviation, Casualty, and Property classes.
• CII qualifications or equivalent preferred.
• Right to work in the UK.

Please apply with CV and cover letter, or send to [emailprotected].