Reinsurance Placement Manager in London

Reporting to: Head of Ceded Re

Location: Fenchurch Street, London

Position Type: Permanent

Why Tokio Marine HCC?

Standing still is not an option in the current world of Insurance. TMHCC are one of the world’s leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients.

Job Purpose

To manage Reinsurance Placement across allocated TMHCC lines of business and provide support to across the organisation. The position will work alongside key stakeholders to prepare for, negotiate, execute and report on reinsurance purchases. This will include working closely with Head of Line Underwriters, executive management (CEO and CUO) and reinsurance brokers throughout placement of our outwards reinsurance programmes to support efficient and effective execution. This will involve close collaboration with our Reinsurance Operations team, UW Performance team (actuarial and cat modelling), Claims, Finance and wider Operations. The role will also provide support of internal intracompany (within TMHCC) and intragroup (within Tokio Marine Group) inwards and outwards reinsurance placements where applicable.

Key Responsibilities

• Key point of contact on outwards reinsurance for internal stakeholders, brokers and reinsurers.
• Co-ordinate and/or produce reinsurance submissions, in collaboration with underwriting teams and reinsurance brokers.
• Development of reinsurance summaries and schematics, monitoring actual spend vs expected spend and coverage.
• Produce reinsurance purchasing and strategy reports for the Executive and the Board.
• Maintain repository of all XoL and QS outwards reinsurance contracts including intracompany and intragroup contracts (inwards and outwards).
• Work with reinsurance wordings experts and provide input into drafting and review of reinsurance contracts, slips, wordings, and clauses.
• Assist with ensuring receipt of evidence of cover from the brokers and that reinsurance markets are approved by the TMHCC Reinsurance Security Committee (Houston).
• Manage underwriting and executive approvals and signoffs.
• Assist operations teams with estimating reinsurance recoveries and reinsurance advice to the brokers and reinsurers.
• Monitor collateral positions where appropriate and provide input and calculations for expected or requested collateral releases.
• Assist various areas of the business with scenario analyses to help estimate net positions, ensuring net loss estimates are consistent with contract wordings.
• Liaise with Lloyd’s or other regulators regarding reinsurance purchase or strategy where required and review regulatory returns.
• Work with Actuarial and Risk teams to ensure reinsurance programmes are accurately represented in the capital model (Houston, London and Japan).

Skills and Experience Specification

• Ideally 5+ years of experience and expertise in reinsurance placement.
• Strong understanding of reinsurance contract wording.
• Strong numerical skills and high attention to detail.
• High level of competency with Microsoft Excel.
• Experience working with senior stakeholders throughout the business.
• Ability to work collaboratively with cross-departmental teams to achieve common goals.
• Ability to work to tight deadlines.
• Excellent presentational skills and organizational skills.
• Professional approach and delivery of work product.
• Energy, enthusiasm, persistence and adaptability.
• Excellent interpersonal and communication skills.
• Experience and market knowledge with some or all of TMHCC’s core lines of business.
• Proficiency working with catastrophe modelling output e.g. RMS.
• Experience with Power BI or other data visualisation software.
• Ability to review and interpret key regulatory returns e.g. Schedule F, Lloyd’s SRS.

What We Offer

The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful, dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals. The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit www.tmhcc.com for more information about our companies.