Reinsurance Manager

Kshema General Insurance Limited; Secunderabad; On-site; INR 2,000,000 - 4,000,000; Full time

Job summary

Kshema General Insurance Limited seeks a Reinsurance Manager to design, negotiate, place, and monitor reinsurance programs in line with risk appetite, financial objectives and regulatory requirements. You will work closely with brokers and reinsurers, plus internal teams such as Underwriting, Finance and Actuarial to deliver measurable results.

The role requires strong analytical, negotiation and communication skills, with a strategic, proactive mindset to optimize reinsurance structures, ensure

Qualifications

• In-depth knowledge of reinsurance regulations, concepts, principles and practices.
• Strong analytical, problem-solving and decision-making abilities.
• Excellent negotiation, communication and interpersonal skills.
• High integrity, professionalism and ethical standards.
• Strategic, innovative and results-oriented mindset.

Responsibilities

• Develop and monitor retention strategy and reinsurance program per risk appetite and regulatory requirements.
• Evaluate reinsurance needs based on risk profile, capital position and market conditions.
• Negotiate pricing, terms and conditions for reinsurance contracts with reinsurers.
• Prepare and review reinsurance submissions, proposals and contracts.
• Ensure compliance with internal and external standards and regulations.
• Lead reinsurance accounting, reporting and auditing processes and settlements.
• Monitor program performance and identify gaps for improvement and cost savings.
• Maintain effective communication with brokers, reinsurers and internal stakeholders.
• Stay updated on trends and best practices in reinsurance and provide insights to senior management.

Skills

Reinsurance knowledge

Analytical skills

Negotiation

Communication

Problem solving

Regulatory compliance

Education

Bachelor's or Master's degree in Insurance/Finance/Actuarial Science

Job description

Job Description

As a Reinsurance Manager, you will be responsible for design, negotiation, placement, and monitoring of reinsurance programs in line with the risk appetite, financial objectives and regulatory requirements for Kshema General Insurance Limited. You will work closely with Kshema’s stakeholders like brokers and reinsurance partners along with Kshema’s internal departments like Underwriting, Finance and Actuarial teams to achieve your deliverables.

Key Responsibilities

• Developing and reviewing the retention strategy and reinsurance program as per the risk appetite, financial objectives, and regulatory requirements.
• Evaluating the reinsurance needs and opportunities for Kshema, based on an analysis of risk profile, capital position and market conditions
• Negotiating and securing optimal pricing, terms, and conditions for reinsurance contracts with reputable and financially sound reinsurers.
• Preparing and reviewing the reinsurance submissions, proposals, and contracts.
• Ensuring compliance of all reinsurance discussions, contracts and submissions with internal and external standards and regulations.
• Leading the reinsurance accounting, reporting, and auditing processes, and ensuring timely and accurate settlement of reinsurance transactions and claims.
• Monitoring the performance of reinsurance programs, and conduct regular reviews and audits to identify gaps, and suggest changes in the program to address gaps and/or save reinsurance spend;
• Establishing and maintaining effective communication with reinsurance brokers, reinsurers, and internal stakeholders, and resolving any disputes or queries; and
• Keeping abreast of the latest trends, developments, and best practices in the reinsurance industry, and providing insights and recommendations to senior management.

Requirements

• In-depth knowledge of current reinsurance regulations, reinsurance concepts, principles, and practices, such as reinsurance types, structures, pricing and accounting.
• Professional certification or designation in reinsurance from a reputed institute is desirable.
• Extensive experience in reinsurance domain; preferably with an Indian Insurance company
• Strong analytical, problem-solving, and decision-making skills, and the ability to evaluate complex and dynamic reinsurance scenarios and risks.
• Excellent negotiation, communication, and interpersonal skills, and the ability to build and maintain positive and productive relationships with internal and external parties.
• High level of integrity, professionalism, and ethical standards, and the ability to comply with relevant laws, regulations, and codes of conduct; and
• Strategic, innovative, and results-oriented mindset, and the ability to align reinsurance objectives and activities with the company’s vision, mission, and values.

Educational Qualifications

• Bachelor’s or master’s degree in insurance, finance, actuarial science, or a related field