At a Glance
- Tasks: Manage ceded reinsurance programmes and ensure effective risk transfer in a dynamic environment.
- Company: Join EXL, a global leader in data and AI with a collaborative culture.
- Benefits: Enjoy competitive salary, private healthcare, and flexible hybrid working options.
- Other info: Opportunities for professional development and a commitment to diversity.
- Why this job: Make an impact in the insurance industry while developing your skills in a supportive team.
- Qualifications: 4-7 years in ceded reinsurance with strong analytical and communication skills.
The predicted salary is between 56700 - 69300 £ per year.
EXL (NASDAQ: EXLS) is a global data and artificial intelligence (\"AI\") company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed.
EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others.
EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect.
We are headquartered in New York and have more than 60,000 employees spanning six continents. For more information, visit www. exlservice. com .
Role Title
Ceded Reinsurance Specialist
Location
London, United Kingdom (Hybrid working 3-4 days a week in the office)
Employment Type
Permanent
Summary of the role
We are seeking an experienced Onshore Ceded Reinsurance Specialist to join our UK reinsurance team.
This role is responsible for managing the placement, administration and oversight of our ceded reinsurance programmes, ensuring effective risk transfer and regulatory compliance within the UK and Lloyd's market frameworks.
A ceded professional who has 8-10 ten years of ceded experience with in-depth domain knowledge, including on managing end to end ceded reinsurance process that include managing complex reinsurance treaty and FAC contracts, with strong knowledge of London Market Reinsurance
The individual will be one of the main points of contact for Client’s placement/purchasing team, broker relationships, regulatory returns, audits (internal, statutory, and external), Claims, Finance and Risk team.
As part of your duties, you will be responsible for
- Lead the placement of onshore ceded reinsurance treaties and facultative covers across property, casualty, and specialty lines.
- Develop and maintain strong relationships with reinsurers, Lloyd's syndicates, and brokers to secure optimal terms and capacity.
- Negotiate reinsurance contract terms, conditions, and pricing in collaboration with underwriting and actuarial teams.
- Monitor the performance of reinsurance programmes and recommend adjustments as required.
- Contract Administration & Technical
- Review and interpret reinsurance contracts, endorsements, and slips to ensure accuracy and alignment with placement intent.
- Manage premium and claims bordereaux, settlements, and cash calls in a timely manner.
- Maintain comprehensive reinsurance records and databases in accordance with internal controls and Lloyd's / FCA requirements.
- Oversee the cedant accounting process including premium payables, recoveries, and loss notifications.
- Ensure full compliance with Lloyd's Market Association (LMA), FCA regulations, and Solvency II requirements relating to ceded reinsurance.
- Liaise with internal audit, risk, and compliance functions on reinsurance-related matters.
- Support the preparation of reinsurance data for Solvency Capital Requirement (SCR) reporting and ORSA submissions.
- Monitor reinsurer credit risk and maintain approved panel documentation.
- Reporting & Stakeholder Engagement
- Prepare management information and board-level reporting on reinsurance programme performance, recoveries, and market trends.
- Collaborate with underwriting, claims, actuarial, and finance teams to support reinsurance strategy.
- Respond to queries from internal and external stakeholders including regulators, auditors, and rating agencies.
- Qualifications and experience we consider to be essential for the role:
Essential Experience & Qualifications
- Minimum 4–7 years' experience in ceded reinsurance, treaty administration, or a related reinsurance broking/underwriting role within the UK or Lloyd's market.
- Strong working knowledge of treaty and facultative reinsurance structures (proportional and non-proportional).
- Familiarity with UK regulatory requirements including Solvency II, Lloyd's minimum standards, and FCA obligations.
- Experience with reinsurance administration systems (e. g., Sequel Eclipse, Xuber/Majesco, or similar).
- Proficiency in Microsoft Excel for data analysis and reporting.
Skills and Personal attributes we would like to have
- Strong analytical and numerical skills with attention to detail.
- Excellent communication and negotiation skills.
- Ability to manage multiple priorities and deadlines in a fast-paced environment.
- Collaborative team player with the ability to work cross-functionally.
- High degree of professional integrity and commercial awareness.
- ACII qualification (Chartered Insurance Institute) or working towards it.
- Experience in Lloyd's of London market environment.
- Exposure to reinsurance run-off or legacy portfolios.
- Knowledge of IFRS 17 implications for reinsurance contracts held.
- As part of a leading global Data and AI company, you can look forward to:
- A competitive salary with a generous bonus, private healthcare, critical illness life assurance at 4 x your annual salary, income protection insurance, and a rewarding pension.
EXL provides everyday financial well-being solutions, such as cash back cards, in which you can earn cashback while enjoying discounts, promotions, and offers from top retailers.
We also offer a Cycle Scheme where you can save money on bikes and cycling accessories.
EXL , we are committed to providing our employees with the tools and resources they need to succeed and excel in their careers.
We offer a wide range of professional and personal development opportunities.
We also support a range of learning initiatives that allow our employees to build on their existing skills and knowledge.
From online courses to seminars and workshops, our employees have the opportunity to enhance their skills and stay up to date with the latest trends and technologies.
As an Equal Opportunity Employer,
EXL is committed to diversity.
Our company does not discriminate based on race, religion, colour, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, age, or disability status.
EXL employees are eligible to purchase stock as part of our Employee Stock Purchase Plan (ESPP).
EXL , we offer a flexible hybrid working model that allows employees to live a balanced, healthy lifestyle while strengthening our culture of collaboration.
To be considered for this role, you must already be eligible to work in the United Kingdom.
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Ceded Reinsurance Technician employer: Ex
EXL is an excellent employer that fosters a collaborative and innovative work culture, where data professionals can thrive in a hybrid environment in London. With a strong emphasis on employee growth, EXL offers opportunities for continuous learning and development in cutting-edge technologies like AI/ML and cloud platforms. The company values diversity and inclusion, ensuring that every team member contributes to impactful projects while enjoying a supportive atmosphere.
StudySmarter Expert Advice🤫
We think this is how you could land Ceded 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 Ex). 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 Ex. 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 Ceded 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 Ex.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Ex. 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 Ex
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Ex 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 Ex, 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 Ex'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.
