Director Retrocession

Job Summary

About the Role

The Director - Retrocession is a senior technical role responsible for supporting the performance protection and strategic development of the companys reinsurance portfolio.

The role covers retrocession underwriting and portfolio analytics exposure management capital management business planning product development and pricing. Working closely with Underwriting Risk Finance Actuarial and Strategy the Director provides the analysis and insight required to support sound underwriting decisions and maintain appropriate portfolio protection.

The role requires a strong actuarial and analytical background together with extensive insurance and reinsurance experience particularly across Treaty and Facultative Non-Life business.

Responsibilities

1. Retrocession & Reinsurance Strategy

• Manage and monitor the companys retrocession arrangements across Life & Medical and Non-Life portfolios.
• Prepare renewal analysis retrocession packs and presentations for Management Board Technical Committees and retrocessionaires.
• Work with brokers actuaries catastrophe modellers and underwriting teams on pricing programme structure and placement.
• Review the effectiveness of reinsurance and retrocession protection and recommend improvements where required.

2. Underwriting Performance Analytics & Portfolio Management

• Monitor underwriting and portfolio performance against the approved Business Plan across lines of business regions and business units.
• Develop clear management reports covering premium claims loss ratios costs profitability and portfolio trends.
• Analyse portfolio composition concentration profitability and diversification to identify risks and opportunities.
• Provide analytical insight and recommendations to support underwriting and portfolio management decisions.

3. Risk Exposure & Capital Management

• Monitor insurance accumulation catastrophe underwriting pricing and retrocession risks in line with the companys Risk Management Framework.
• Work with Underwriting and Risk to monitor catastrophe and Facultative exposures aggregates and portfolio limits.
• Support capital management and identify opportunities to improve capital efficiency through portfolio and reinsurance optimisation.
• Assist with scenario analysis stress testing and monitoring of major portfolio exposures.

4. Product Development & Pricing

• Support the development of new insurance and reinsurance products from initial concept through to launch.
• Identify market opportunities through analysis of competitors regulation and industry developments.
• Work with Underwriting Actuarial Claims Risk and Strategy on product design pricing and financial assumptions.
• Review appropriate Treaty Facultative and retrocession protection for new and existing products.

5. Business Planning & Performance

• Coordinate underwriting input into the annual Business Plan with Strategy Finance and Actuarial teams.
• Monitor key assumptions including premium claims acquisition costs and loss ratios against actual performance.
• Identify significant variances and provide management with clear analysis and recommendations.
• Support forecasting and scenario analysis to assist strategic decision-making.

6. Credit & Counterparty Management

• Monitor the financial strength and credit ratings of reinsurers retrocessionaires and other key counterparties.
• Review counterparty concentration and credit exposure.
• Ensure credit quality is considered within reinsurance strategy placement and programme design.

7. Underwriting Management & Operating Model

• Support the development of effective underwriting frameworks authorities controls and operating models.
• Improve consistency of underwriting processes data quality reporting and performance management.
• Work with underwriting leadership to develop appropriate KPIs and portfolio controls.
• Support strategic underwriting and operational improvement initiatives.

8. Market & Stakeholder Management

• Maintain strong relationships with brokers reinsurers retrocessionaires advisers and other market partners.
• Provide insight into international reinsurance markets pricing capacity and emerging trends.
• Represent the company in technical meetings renewal discussions and relevant market engagements.

9. Leadership & Governance

• Lead motivate and develop team members while managing multiple projects and priorities.
• Promote effective cooperation between Underwriting Actuarial Risk Finance and Strategy.
• Support internal training development and knowledge-sharing activities.
• Ensure compliance with company governance risk management and cybersecurity requirements.

Education & Experience

• Masters degree in a related discipline.
• ACII or equivalent professional qualification is preferred.
• 10 years experience within the insurance or reinsurance industry.
• Strong knowledge of Treaty and Facultative reinsurance particularly Non-Life business.
• Experience within a reinsurance company advisory firm or comparable insurance organisation.

Skills

• Ability to lead and motivate teams while managing multiple priorities.
• Strong communication presentation and networking skills.
• Strong coordination negotiation and influencing ability.
• High emotional intelligence and strong commercial judgement.

Areas of Experience

• International reinsurance markets preferably London Bermuda India Singapore and/or Zurich.
• Treaty and Facultative reinsurance.
• Product development and pricing.
• Capital management.
• Catastrophe and exposure management.
• Credit rating and counterparty analysis.
• Reinsurance strategy.
• Underwriting management and operating models.

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