Reinsurance Specialist

Al Etihad Cooperative Insurance Co; Al Khobar; On-site; SAR 180,000 - 280,000; Full time

Job summary

Al Etihad Cooperative Insurance Company is seeking a Reinsurance Protection & Saving Specialist to manage treaty and facultative structures, coordinate with reinsurers, and support reporting. The role requires 2+ years in reinsurance/underwriting and bilingual (Arabic/English) communication.

Proficiency in MS Office and reporting tools is essential. The position is based in Saudi Arabia and involves collaboration with Finance, IT, and Branch teams to ensure accurate data, timely reporting, and

Qualifications

• 2+ years of Reinsurance, Underwriting, or Insurance experience.
• Bachelor’s or Diploma in insurance, business administration, finance, marketing, or related field.
• Good communication, presentation, and relationship-building skills.
• Proficiency in Microsoft Office and business reporting tools.
• Bilingual Arabic and English communication.

Responsibilities

• Issue reinsurance treaty and facultative notifications for Protection & Savings products and communicate with reinsurers and internal stakeholders.
• Perform monthly closing activities and coordinate with Branches, Finance, and IT departments to ensure timely and accurate reporting.
• Generate, review, and validate monthly and quarterly reports from the system.
• Monitor policy issuances and claims activities, ensuring accurate allocation and distribution to reinsurers in accordance with treaty and facultative reinsurance agreements.
• Notify reinsurers of Protection & Savings claims received from the Claims Department and prepare the required reinsurance recovery notifications.
• Coordinate with the Finance Department regarding reinsurance premium payment schedules and ensure compliance with contractual terms and conditions.
• Maintain accurate reinsurance records and support reconciliation processes between operational and financial data.
• Ensure compliance with company policies, reinsurance agreements, and regulatory requirements.

Skills

Reinsurance experience

Underwriting experience

Communication skills

Arabic English proficiency

Education

Bachelor’s or Diploma in Insurance/Business/Finance

Tools

MS Office

Business reporting tools

Job description

Al Etihad Cooperative Insurance Company is a public joint-stock company established in the Kingdom of Saudi Arabia under a decision from the Council of Ministers and a royal decree as a cooperative insurance company. The company’s paid-up capital is 500 million Saudi Riyals. The company is an extension of United Insurance Company, which was founded in the Kingdom of Bahrain in 1983 as a foreign company to conduct insurance operations in Saudi Arabia. In 2008, the company was listed for public subscription and was registered in the Saudi Stock Exchange (Tadawul) under the symbol 8170.

The company is subject to the supervision and regulation of the Saudi Insurance Authority and is licensed to operate in all types of insurance, including general insurance, medical insurance, motor insurance, and protection & savings insurance.

The company’s experience and commitment to serving its customers have made United one of the pioneers in the insurance industry in the Kingdom. The company also has a wide network of offices and regional outlets to ensure proximity to its customers across the Kingdom. Additionally, the company has a dedicated team that strives to deliver the highest level of service to its clients.

Job Title: Reinsurance Protection & Saving Specialist

Key Responsibilities:

• Issue reinsurance treaty and facultative notifications for Protection & Savings products and communicate with reinsurers and internal stakeholders.
• Perform monthly closing activities and coordinate with Branches, Finance, and IT departments to ensure timely and accurate reporting.
• Generate, review, and validate monthly and quarterly reports from the system.
• Monitor policy issuances and claims activities, ensuring accurate allocation and distribution to reinsurers in accordance with treaty and facultative reinsurance agreements.
• Notify reinsurers of Protection & Savings claims received from the Claims Department and prepare the required reinsurance recovery notifications.
• Coordinate with the Finance Department regarding reinsurance premium payment schedules and ensure compliance with contractual terms and conditions.
• Maintain accurate reinsurance records and support reconciliation processes between operational and financial data.
• Ensure compliance with company policies, reinsurance agreements, and regulatory requirements.

Qualifications and Requirement:

• 2+ years of experience in Reinsurance, Underwriting, or Insurance.
• Bachelor’s or Diploma degree in insurance, Business Administration, Finance, Marketing, or a related field.
• Good communication, presentation, and relationship-building skills.
• Proficiency in Microsoft Office applications and business reporting tools.
• Good verbal and written communication skills in both Arabic and English.