At a Glance
- Tasks: Manage reinsurance contracts and support recovery processes in a dynamic insurance environment.
- Company: Established specialty insurance organisation with a strong reputation in the London Market.
- Benefits: Competitive salary, professional development, and a collaborative work culture.
- Other info: Opportunity for career growth and involvement in process improvement initiatives.
- Why this job: Join a team where your expertise makes a real impact on innovative insurance solutions.
- Qualifications: Significant reinsurance experience and strong analytical skills required.
The predicted salary is between 55000 - 70000 £ per year.
An excellent opportunity for an experienced reinsurance professional to join a well-established insurance business in a senior technical capacity. This role is responsible for supporting the effective administration and operation of ceded reinsurance programmes, ensuring all post-placement activities are managed accurately and efficiently. Working closely with underwriting, claims, finance, reserving, brokers, and reinsurers, the successful candidate will play a key role in contract management, recoveries, settlements, reporting, and process improvement initiatives.
Key Responsibilities
- Manage and oversee the administration of Excess of Loss reinsurance contracts.
- Support facultative reinsurance recovery processes and monitor recoveries.
- Maintain and update contract records across relevant reinsurance systems.
- Calculate and produce premium adjustment statements.
- Identify, calculate, and account for recoverable claims.
- Process and coordinate large or complex settlement requests.
- Liaise with underwriting, claims, finance, and reserving teams to ensure accurate reinsurance administration.
- Build and maintain relationships with brokers and reinsurers.
- Calculate and submit terrorism pool returns and related reporting.
- Monitor and manage aged debt positions.
- Process LORS and USM transactions.
- Produce exception reports and support operational control frameworks.
- Ensure compliance with SOX and other internal control requirements.
- Contribute to projects, process improvements, and system implementation initiatives.
- Represent the reinsurance function in internal and external meetings.
- Provide guidance, support, and oversight to less experienced team members where required.
What We're Looking For
- Significant experience within a ceded reinsurance technical or operational role.
- Strong understanding of Excess of Loss and facultative reinsurance arrangements.
- Experience handling reinsurance claims and recoveries.
- Good knowledge of Lloyd’s and London Market operations.
- Ability to build effective relationships with internal stakeholders, brokers, and reinsurers.
- Strong analytical and problem-solving skills with excellent attention to detail.
- Confident communication skills, both written and verbal.
- Ability to prioritise workloads and manage multiple deadlines effectively.
- Experience using reinsurance administration systems and Microsoft Office applications.
- Leadership capability, with experience mentoring or supporting colleagues.
Desirable but Not Essential
- Experience working across both Lloyd’s and company market platforms.
- Background gained within insurers, MGAs, or reinsurance brokers.
- Experience with Subscribe, Senator, XLRAS, or similar market systems.
- Exposure to operational change, system implementations, or process improvement projects.
- Professional insurance or reinsurance qualifications.
About the Company
A well-established specialty insurance organisation operating within the London Market. The business has a strong reputation for technical expertise, underwriting excellence, and long-term client relationships. With continued investment in operations, technology, and talent, the company offers a collaborative environment where employees are encouraged to develop their expertise and contribute to ongoing business improvement initiatives.
Senior Reinsurance Technician employer: Equity City
Join a well-established specialty insurance organisation in the heart of the London Market, where your expertise in reinsurance will be valued and nurtured. With a strong focus on technical excellence and collaborative work culture, the company offers ample opportunities for professional growth and development, alongside a commitment to innovation and operational improvement. Enjoy a supportive environment that encourages you to build meaningful relationships with industry stakeholders while contributing to impactful projects.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Reinsurance Technician
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Equity City). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Equity City. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Senior Reinsurance Technician
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Equity City.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Equity City. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Equity City
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Equity City to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Equity City, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Equity City's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
