Senior Reinsurance Technician

Chaucer Group; Greater London; Hybrid; GBP 70,000 - 90,000; Full time

Benefits offered by this job

Flexible hybrid work

Medical coverage

Pension scheme

Wellbeing support

Job summary

Chaucer Syndicates Ltd is seeking a senior reinsurance administrator to provide technical oversight of outwards reinsurance for Lloyd's Syndicate 1084 and Chaucer Insurance Company DAC. You will administer complex contracts, support timely reporting, and collaborate with brokers, reinsurers and auditors.

The role requires substantial reinsurance operations experience, strong Excel skills, and knowledge of Lloyd's market processes. A hybrid work model and comprehensive benefits are offered.

Qualifications

• Substantial outwards reinsurance operations experience, including excess of loss, proportional and facultative business.
• In-depth knowledge of reinsurance practices, contract administration and Lloyd's market operations.
• Experience interpreting and administering complex reinsurance contracts and resolving technical account issues.
• Knowledge of Lloyd's reporting requirements as they relate to outwards reinsurance.
• Advanced Excel capability and proficiency in Microsoft Office.

Responsibilities

• Administer complex outwards reinsurance contracts across excess of loss, proportional and facultative accounts.
• Calculate, issue and monitor reinsurance collection notes in accordance with contract terms and conditions.
• Complete premium adjustments, profit commissions, NCB and other complex technical calculations accurately.
• Manage the collection and payment of recoveries and premium, and address aged debt.

Skills

Outwards reinsurance

Lloyd's market operations

Excel

Contract administration

Education

GCSE English & Maths

Lloyd's Introductory Test

CII Qualification

Tools

XL Pro

Microsoft Office

Job description

Chaucer is a leading insurance group at Lloyd's, the world's specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.

Headquartered in London, with international hubs in Copenhagen, Dubai, Miami, Dublin, Singapore, Sydney and Bermuda, to be closer to our clients across the world. To learn more about us please visit our website www.chaucergroup.com

Job Profile Summary

The main purpose of this role is to provide senior-level technical administration and oversight of outwards reinsurance activities for Chaucer Lloyd's Syndicate 1084 and Chaucer Insurance Company DAC . The role administers complex reinsurance contracts and recovery activity, supports accurate and timely reporting, works closely with internal teams, brokers, reinsurers and auditors, and helps develop the technical capability of allocated technicians across the wider outwards reinsurance function.

Job Description

• Administer complex outwards reinsurance contracts across excess of loss, proportional and facultative accounts, applying a comprehensive understanding of treaty terms and Lloyd's market operations
• Calculate, issue and monitor reinsurance collection notes in accordance with contract terms and conditions
• Complete premium adjustments, profit commission, NCB and other complex technical calculations accurately
• Manage the collection and payment of recoveries and premium, proactively manage aged debt, and resolve technical or operational issues
• Ensure compliance with month-end and quarter-end close deadlines, Lloyd's reporting requirements, audit standards and internal controls
• Produce and review risk and claim bordereaux, renewal presentation information, financial summaries and management information for internal stakeholders
• Respond clearly and professionally to queries from internal teams, brokers, reinsurers and auditors in a timely manner
• Maintain accurate policy, claims, accounting and cover-note records in XL Pro and in house systems
• Review tasks completed by the outsourcing partner and provide appropriate technical challenge and feedback
• Prioritise and allocate workloads for allocated technicians, coach them to develop their technical understanding and capability, and support delivery against team deadlines
• Apply a good understanding of upstream and downstream functions and collaborate across departments to support effective end-to-end reinsurance operations
• Contribute to reinsurance function IT and business projects, including testing, implementation and process improvement activity
• Maintain awareness of reinsurance market trends and evolving regulatory requirements as they affect coverage administration and operations
• Undertake other duties as assigned

Regulatory Responsibilities

Manage the relationships with Customers, Agents and Service Providers:

• Foster positive relationships with Customers and attain an understanding of their needs
• Ensure that the principles of Treating Customers Fairly are upheld by Agents and Service Providers.
• Ensure that Customer Complaints are promptly identified, recorded and referred as appropriate; and,
• Advise, assist and service customers on insurance and risk matters to promote customers' satisfaction

Skills and Competencies:

Substantial outwards reinsurance operations experience, including excess of loss, proportional and facultative business

In-depth knowledge of reinsurance practices, contract administration and Lloyd's market operations

Experience interpreting and administering complex reinsurance contracts and resolving technical account issues

Knowledge of Lloyd's reporting requirements as they relate to outwards reinsurance

Advanced Excel capability and proficiency in Microsoft Office

Excellent attention to detail, analytical ability and accurate record-keeping

Professional written and verbal communication skills, with the ability to work effectively across teams and with external stakeholders

Strong workload prioritisation, time management, problem-solving and process improvement skills

Ability to coach technicians, allocate work appropriately, adapt to change, use initiative and maintain confidentiality and high professional standards Desirable:

Experience using XL Pro for reinsurance administration, data analysis and reporting

Previous involvement in a reinsurance platform implementation or wider reinsurance IT/business project

Experience with LORS and related Lloyd's market processes

Experience overseeing, allocating or reviewing the work of other technicians

Education

• GCSE English and Maths grade C or above (or equivalent)
• Lloyd's Introductory Test
• CII Qualification

Why Join Chaucer?

Chaucer is a leading global insurer operating in both Lloyd's and company markets, helping industries worldwide manage risk. We have shown strong financial success with our Gross Written Premiums growing from $1.4bn in 2019 to $3.5bn in 2024. Backed by strong teams, platforms, and client relationships, Chaucer is poised for continued success.

We offer:

A flexible hybrid work model that supports individual and team needs.

A diverse, inclusive culture that values people for who they are.

Extensive, non-contributory benefits, including medical, life, and pension cover, flexible holidays, and wellbeing support.