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Reinsurance Technician

  • Location: London
  • Salary: £55,000 - £65,000 per year
  • Job Type:Permanent

Posted 12 days ago

  • Sector: Finance & Audit
  • Contact: Gemma Cardew
  • Contact Email:
  • Contact Phone: 0161 883 2816
  • Expiry Date: 30 July 2024
  • Job Ref: GC/11865

MERJE are partnered with a successful and fast growing Speciality Insurer based in the City.

We are looking to engage a talented Reinsurance Technician to join a  Ceded Reinsurance Operations team, reporting to the Ceded Reinsurance Technical Operations Manager. 

In this role you will support the Ceded Reinsurance Technical Operations Manager in delivering timely and accurate post-placement administration of the  Group's Ceded reinsurance program .

You will  possess a good level of systems and data knowledge and a strong understanding of technical Ceded RI concepts, allowing you to proactively contribute to both the day-to-day running of the Ceded RI program and Ceded RI project activity.

** This role is based 5 days office **

 Duties & Responsibilities

Administer reinsurance contracts to ensure the Group complies with all contractual obligations, to include the calculation and processing of M&D premiums, premium adjustments, quota share statements and bordereaux, profit commissions and NCB's

Ensuring all ceded reinsurance contracts are accurately recorded in the policy admin system

Administer payment requests and credit control recoveries balances

Calculate and process facultative and excess of loss reinsurance recoveries

Assist with the peer review of certain tasks carried out by colleagues

Provide pro-active customer service to operations, underwriting, actuarial and finance teams.

Respond promptly to reinsurer and broker queries

Be actively involved in the on-going development of the Company's reinsurance administration procedures and systems

Contribute to the Ceded RI workstream of the Business Transformation project

Assist in the production of programme summaries and schematics

Assist in the preparation of various information to aid the analysis and placement of reinsurance programmes

Undertake any reasonable duties as may be requested by the Ceded Reinsurance Technical Operations Manager.



Minimum Qualifications, Skills & Experience

University degree, preferably in a numerate field (finance, statistics, economics, mathematics, etc.)

At least 3 years' experience in a similar role.

A good level of insurance and reinsurance knowledge required.

Strong knowledge of the Microsoft Suite of applications with Excel skills such as iterative formulae (nested ifs), multi-criteria lookups (index, match), sumifs and pivot tables. Power query/VBA/SQL experience a plus, but not required.

Strong analytical and organizational skills.

Ability to work effectively as part of the Ceded Reinsurance Team as well as with other key stakeholders across different functions within the organization.

Ability to work under pressure and handle a varied, fluctuating workload.

Applicants must be located and eligible to work in the UK without sponsorship. Please note, should feedback not be received within 28 days, unfortunately your application has been unsuccessful. In applying for this role, you may be registered on our database so we can contact you about suitable opportunities in future. Your data will be managed in accordance with our Privacy Policy, which can be found on our website. If you would like this job advertisement in an alternative format, please contact MERJE directly.