Legacy Reinsurance Manager in London

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Antares Global is a multi-entity (including Lloyd’s syndicate), multi-national insurance organisation, writing a mix of direct and reinsurance businesses across numerous classes. The Antares Global Ceded Reinsurance Team is responsible for all aspects of ceded reinsurance for any brand under Antares Global including purchasing and all post-placement administration.

The Legacy Reinsurance Manager will be solely responsible for all aspects of outwards reinsurance for the Legacy division covering a number of entities. The role will have total accountability for its respective reinsurance assets. This person will be the Ceded Re representative at any necessary Legacy meetings including the Board meetings. The role will include preparing outward technical accounts, reinsurance recovery collections, and includes the production of premium adjustments, cash losses, profit commissions, loss APs and the like, all with their respective monitoring of aged debt. Accurate and timely MI to be provided to all relevant key stakeholders across Antares Global as well as providing support for any team requiring assistance with regards to outwards reinsurance. You will have an ability to independently resolve issues, assist in seeking process improvement and have confidence to manage minor projects or tasks through to fruition.

Key Accountabilities

• Outwards reinsurances: Capturing, calculation and recording of reinsurance amounts, whether proportional or non-proportional, facultative or treaty.
• Issuing statements and recoveries within reasonable timescales and meeting contract obligations. Prepares outward reinsurance technical accounts for proportional reinsurances.
• Accurate and timely preparation of periodic accounts which can include funds withheld and sliding scale provisions.
• Review and calculations of cash losses, profit commissions and portfolio transfers.
• Applies knowledge of treaty terms and conditions to accounting transactions.
• Contractual obligations to be adhered to. Monitoring for excess of loss reinsurance recoveries and advices to the market which can include indexation provisions.
• Monitoring issued premium adjustments and updating systems if necessary for reinstatement calculations.
• Issuing loss notifications based on IBNRs or market events where necessary.
• Company reinsurance amounts: Responsible for the agreement of all company reinsurance statements and their respective amounts. Payments and collections to be made within contractual obligations.
• Ceded Asset Management: Regular monitoring and chasing of aged debt across all accounts. Responding to reinsurer queries in a timely fashion with the assistance of the claims, legal and underwriting teams if required. Prepare analysis and proposals for potential commutations.
• Committees and Group Meetings: Be the Ceded Representative at any necessary Legacy meetings. Provide direction and solutions for any forthcoming matters.
• Erosion Analysis: Quarterly review and action taken where necessary. Reinsurance returns and analysis. Assists in the production of Group returns, liaising with internal interested parties to achieve objectives and timescales. Produces internal and external reinsurance reports when required.
• Procedures and Practices: Continual review of the department’s documentation from a global and legacy approach.
• Projects: Provide support, guidance and assistance for the completion of Ceded Re’s projects.

Takes responsibility for own and colleagues’ Health & Safety at all times. Statutory, personal and Company Health & Safety policy regulations are adhered to. To ensure customers are treated fairly at all times, in accordance with the Conduct Risk Policy and other relevant policies and procedures. Compliance with applicable Regulatory Requirements for QIC Global policies and procedures (Lloyd’s Minimum Standards for example). Satisfactory performance as reflected in relevant Conduct Risk MI. To be aware and adhere to all obligations under GDPR, ensuring that the business complies with these requirements. To avoid breaches and to report them to the Data Protection Officer when they occur regardless of whether electronic or on paper. Adherence to QIC Global policies and procedures in relation to GDPR. Timely completion of ongoing training in relation to GDPR.

Knowledge & Qualifications

• Minimum 5 years’ experience in outwards reinsurance administration and practices.
• CII qualifications including LIT preferred.
• A good understanding of reinsurance contract terminology with the ability to follow conditions stated.

Skills & Demonstrable Experience

• General reinsurance market experience with an emphasis to reinsurance administration across both, or either, Lloyd's and company markets.
• Excellent numeric skills, with a high standard of accuracy and a desire for accurate data recording.
• Excellent communicator with an ability to communicate at all levels, both internally and externally.
• Computer literate with a good knowledge of Microsoft products including Excel, Word and Outlook, as well as market database recording systems.
• A self-motivated and driven individual.
• A team player, happy to contribute to obtain the team’s and company’s objectives.
• Willingness to learn and a questioning approach.
• Enjoys working under pressure to meet tight deadlines.