At a Glance
- Tasks: Manage reinsurance placement and collaborate with key stakeholders to execute strategies.
- Company: Join Tokio Marine HCC, a leading Specialty Insurer with a dynamic culture.
- Benefits: Competitive salary, comprehensive benefits, and opportunities for professional growth.
- Other info: Fast-paced environment with a focus on collaboration and career advancement.
- Why this job: Be part of a team that empowers people and delivers innovative solutions in insurance.
- Qualifications: 5+ years in reinsurance placement, strong numerical skills, and excellent communication.
The predicted salary is between 60000 - 80000 £ per year.
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.
Reinsurance Placement Manager employer: Tokio Marine HCC International
At Tokio Marine HCC, located in the heart of London on Fenchurch Street, we pride ourselves on being a leading Specialty Insurer that values innovation and employee empowerment. Our dynamic work culture fosters collaboration across departments, providing ample opportunities for professional growth and development while ensuring a competitive salary and comprehensive benefits package. Join us to be part of a forward-thinking team that is committed to delivering exceptional solutions and making a meaningful impact in the insurance industry.
Contact Details:
Tokio Marine HCC International Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Reinsurance Placement Manager
✨Tip Number 1
Network like a pro! Reach out to industry contacts on LinkedIn or at events. We all know that sometimes it’s not just what you know, but who you know that can land you that dream job.
✨Tip Number 2
Prepare for interviews by researching the company and its culture. We want to show that you’re not just a fit for the role, but also for the team. Tailor your answers to reflect how your experience aligns with their values.
✨Tip Number 3
Practice makes perfect! Do mock interviews with friends or use online resources. We can help you refine your pitch and boost your confidence before the big day.
✨Tip Number 4
Don’t forget to follow up after interviews! A quick thank-you email can go a long way. It shows your enthusiasm and keeps you fresh in their minds. And remember, apply through our website for the best chance!
We think you need these skills to ace Reinsurance Placement Manager
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Reinsurance Placement Manager role. Highlight your experience in reinsurance placement and any relevant skills that match the job description. We want to see how you can bring value to our team!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about reinsurance and how your background aligns with our values at Tokio Marine HCC. Let us know what excites you about this opportunity!
Showcase Your Skills:Don’t forget to showcase your numerical skills and attention to detail in your application. Mention any experience with Microsoft Excel or data visualisation software like Power BI, as these are key for the role. We love seeing candidates who can demonstrate their expertise!
Apply Through Our Website:We encourage you to apply through our website for a smoother application process. It’s the best way for us to receive your application and keep track of it. Plus, you’ll find all the info you need about our company there!
How to prepare for a job interview at Tokio Marine HCC International
✨Know Your Reinsurance Inside Out
Make sure you brush up on your knowledge of reinsurance contracts and market trends. Familiarise yourself with the specific lines of business that Tokio Marine HCC focuses on, as well as their recent activities in the industry. This will show your genuine interest and help you engage in meaningful discussions during the interview.
✨Prepare for Stakeholder Scenarios
Since the role involves working closely with senior stakeholders, think about how you would approach various scenarios involving negotiations or presentations. Prepare examples from your past experience where you've successfully collaborated with different teams or managed complex projects. This will demonstrate your ability to work cross-departmentally.
✨Showcase Your Analytical Skills
Given the emphasis on numerical skills and attention to detail, be ready to discuss how you've used data analysis in previous roles. Bring examples of how you've monitored spending versus expectations or produced reports that influenced decision-making. This will highlight your analytical capabilities and fit for the role.
✨Practice Your Presentation Skills
With excellent presentation skills being a key requirement, consider rehearsing a brief presentation on a relevant topic, such as a recent reinsurance strategy you admire. This will not only help you feel more confident but also allow you to showcase your communication skills effectively during the interview.
