Reinsurance Contracts Expert

Swiss Re - Schweizerische Rückversicherungs-Gesellschaft; Kuala Lumpur; On-site; MYR 100,000 - 150,000; Full time

Job summary

Swiss Re - Schweizerische Rückversicherungs-Gesellschaft is seeking a Reinsurance Contracts Expert in Kuala Lumpur. This pivotal role involves drafting and reviewing reinsurance contracts, advising on contract-related matters, and negotiating terms with clients.

The ideal candidate should have over 5 years of experience in the (re)insurance industry, fluency in English and Chinese, and a strong understanding of P&C insurance policy wordings. Swiss Re promotes an inclusive culture that values diverse perspectives.

Qualifications

• 5+ years of (re)insurance industry experience.
• Legal background or qualification in common English law is an advantage.
• Solid understanding of P&C (re)insurance policy wordings.

Responsibilities

• Draft and critique (re)insurance contracts and related documents.
• Perform portfolio analysis on contract risks.
• Collaborate with Client Managers in contract negotiations.

Skills

Analytical abilities

Commercial drafting skills

Client management experience

Fluent in English

Fluent in Chinese

IT literacy

Education

Degree in business, finance, insurance, law or related field

Job description

Head of P&C Reinsurance Contracts, Asia Pacific is seeking a regional Reinsurance contract wordings counsel / expert to join our team supporting Swiss Re's property and casualty ("P&C") reinsurance business in the Asia Pacific region. Primary responsibilities include drafting and review of (re)insurance contract wordings, advising on contract related matters, and engaging with internal and, at times, external clients to negotiate and finalize the terms of reinsurance contracts, as well as supporting the Head of P&C Reinsurance Contracts to manage contract risks in reinsurance portfolio. This position will be based in Kuala Lumpur, Malaysia.

About the team

P&C Contracts is part of Underwriting Excellence in Property & Casualty Reinsurance. It is responsible for ensuring Swiss Re (re)insurance agreements comply with underwriting and contracts standards.

In P&C Contracts, you will join a highly engaged global team of approximately 40 legal / claims / underwriting experts and specialists who support all Lines of Property, Casualty, and Specialty business. Primary responsibilities of our Contracts Function include drafting and review of (re)insurance wordings, advising on contract related matters and engaging with internal and external clients to negotiate and finalize the terms of reinsurance contracts as well as the further development of our tool landscape and wording analytics.

About the role

Core responsibilities of the Reinsurance Contracts Expert / Counsel include:

• Independently draft and critique (re)insurance contracts, binders, slips, endorsements and related documents to align written agreements with business intent and corporate requirement.
• Perform portfolio analysis and provide insights on trends related to contract risks, in reliance on Swiss Re contracts systems and database.
• Align reinsurance contracts with applicable law, regulations and internal requirements.
• Coordinate, communicate and participate in development of corporate policies on contract related matters.
• Support functional development of contract management and analytical systems;
• Collaborate with Client Managers and Underwriters in contract negotiations, including discussions with external clients and brokers.
• Act as expert technical advisor, providing guidance to various corporate functions regarding contract formation / interpretation, implications of particular contract language and best practices.
• Develop training materials and deliver internal, external or public training on contract related matters; drive thought leadership on contract certainty.
• Maintain strong governance risk and control standards with respect to contract wordings and processes.

About You

The successful candidate will be expected to develop a thorough understanding of relevant law, regulations and market practices in the Asia Pacific region and apply these to (re)insurance agreements. Participation in Global projects / initiatives through co‑working with team mates from the US and EMEA Regions is expected. They will also require strong analytical abilities, experience in business negotiations, and excellent written and verbal communication skills, including the ability to engage confidently and in an impactful manner with internal stakeholders and clients. We are seeking a candidate with an innovative, pragmatic and results‑oriented mindset, who possesses the ability to work independently with a sense of personal responsibility and accountability, while also building cooperative relationships with internal and external partners, to enable cross‑functional team decision making in alignment with Swiss Re business strategy. The Contracts Expert / Counsel should be available for business travel roughly two weeks each year.

Requirements

• Degree holder in business, finance, insurance, law or a related field; preferably with professional insurance designation (e.g. ACII or equivalent); legal background / qualification in common / English law an advantage;
• 5 or more years of (re)insurance industry experience (re)insurance claims, underwriting, coverage counsel, legal or product role;
• Solid understanding of P&C (re)insurance policy wordings, coverage, product, and business processes;
• Good skill and confidence in commercial / (re)insurance coverage agreement drafting;
• External customer servicing, management, or advising experience an advantage;
• Exposure to a multi‑cultural work and / or client servicing environment; and
• High level fluency in Chinese and English, including business terminology. Additional fluency in Mandarin is a plus;
• Effective computer and Information Technology literacy.

Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking. We embrace a workplace where everyone has equal opportunities to thrive and develop professionally regardless of their age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought or other characteristics. In our inclusive and flexible environment everyone can bring their authentic selves to work and their passion for sustainability.

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