Facultative Reinsurance Broker

WTW; Miami (FL); On-site; USD 120,000 - 180,000; Full time

Job summary

Willis Towers Watson CAC, Inc. seeks a Facultative Reinsurance Broker for the Caribbean in Miami, FL to build and maintain relationships with global reinsurers, structure facultative property reinsurance placements, and coordinate with multilingual Caribbean clients. You will engage international markets and work with London, Madrid, and other hubs, with 15% travel expected to support the Caribbean property portfolio.

Qualifications

• Bachelor’s degree or equivalent in any field with 3 years in reinsurance, property broking focus.
• 3 years of experience with insurance clients in Spanish-, English-, and Dutch Caribbean; relationships with international markets.
• 1 year of experience in presenting reinsurance concepts to senior executives; structuring facultative property programs; coordinating multidisciplinary teams.

Responsibilities

• Develop and maintain commercial relationships with international reinsurers and markets.
• Structure and place facultative property reinsurance programs with coverage terms and limits.
• Coordinate broking, analytics, catastrophe modeling, and client services for timely placements.
• Prepare risk analyses, placement strategies, and market updates for senior executives.
• Travel up to 15% domestically and internationally.

Skills

Analytical skills

Problem-solving

Communication

Executive presentations

Team coordination

Education

Bachelor's degree

ARe

CPCU

Job description

Description

Willis Towers Watson CAC, Inc. seeksFacultative Reinsurance Broker, Caribbean in Miami, FL to develop and maintain commercial relationships with global reinsurers in order to secure competitive capacity and terms for Caribbean property risks. Maintain relationships with insurance companies across Spanish-speaking, English-speaking, and Dutch Caribbean jurisdictions. Create, review and structure, facultative property reinsurance placements including wording with coverage conditions, monetary limits and overall program placement strategy. Advanced knowledge of proportional and non-proportional facultative reinsurance structures. Work as part of a team of brokers and business developers focusing on sourcing and placing facultative Reinsurance in the Caribbean region. Engage international reinsurance markets in Miami, Latin America, Europe and WTW colleagues in London, Madrid, and other hubs to negotiate and place facultative property reinsurance placements. Calculate and negotiate final signings and premiums per Reinsurer. Ensure company, market and client-related documentation is issued (internally and externally) accurately and on time. Comply with all administrative and operational tasks including premium collection once coverage has been accepted. Manage a portfolio of placements throughout the year, advising management and finances of expected forecast revenue. Work with actuaries and cat modelers to analyze insurance risks in order to advise clients on facultative reinsurance structures to mitigate downside risk and improve capital efficiency. Comply with external and internal regulatory and statutory policies, procedures and regulations. Coordinate internal resources, such as analytics, contracts and client services to provide solutions to client(s). Prepare and present risk analyses, placement strategies, and market updates to senior executives of insurance companies. Conduct research on industry developments, catastrophe risk trends, and reinsurance market dynamics affecting Caribbean property risks. Participate in the development of our global production strategy for the Property Segment. 15% domestic and international travel required.

LOCATION:

Willis Towers Watson CAC, Inc., 1450 Brickell Avenue, Miami, FL 33131

Qualifications

REQUIREMENTS:

Bachelor’s degree or equivalent in any field and 3 years of experience in the reinsurance industry with a focus on property broking. Requires 3 years of experience with all of the following: working with insurance clients located in the Spanish-speaking Caribbean, English-speaking Caribbean, and Dutch Caribbean; developing and maintaining commercial relationships with international reinsurance markets; and applying analytical and problem-solving skills to evaluate complex property risk exposures. Requires 1 year of experience with all of the following: communicating and presenting technical reinsurance concepts to senior executives; structuring and placing facultative property reinsurance programs for complex property risks; and coordinating multidisciplinary teams including broking, analytics, catastrophe modeling, and client service professionals. Professional designations such as ARe [Associate in Reinsurance] or CPCU [Chartered Property Casualty Underwriter] required.