Assistant Manager

Role Purpose

To support the effective placement, administration, and optimisation of the company’s outward reinsurance programme for the UK business. The Assistant Manager will work closely with underwriting, actuarial, finance, and broker partners to ensure timely execution, accurate reporting, and compliance with regulatory requirements (including Solvency II and Lloyd’s if applicable).

Key Responsibilities

1. Reinsurance Placement & Programme Support

• Assist in the design, structure, and negotiation of annual outward reinsurance treaties.
• Collate underwriting and exposure data to prepare submissions for brokers and reinsurers.
• Analyse renewal proposals, ensuring technical accuracy and alignment with business strategy.
• Support modelling of different reinsurance structures alongside actuarial teams.
• Coordinate placement documentation including slips, wordings, and contract certainty.

2. Reinsurance Operations & Administration

• Oversee accurate and timely recording of treaty and facultative reinsurance arrangements in internal systems.
• Monitor contract statuses, endorsements, and renewals.
• Ensure all treaty documentation meets regulatory and audit requirements.
• Support accurate cash allocation, premium payments, recoveries, and reinstatement calculations.

3. Recoveries & Claims Coordination

• Coordinate with claims teams to identify reinsurance‑recoverable claims.
• Prepare and submit recovery notifications and statements to reinsurers/brokers.
• Track recovery progress and ensure timely settlement.
• Reconcile reinsurance receivables and handle queries with brokers and reinsurers.

4. Reporting, Compliance & Controls

• Prepare management reports on treaty performance, costs, recoveries, and exposure.
• Support Solvency II, Lloyd’s reporting (if applicable), and reinsurance credit risk assessments.
• Maintain robust internal controls in line with audit and compliance standards.
• Ensure adherence to contract certainty, GDPR, FCA/Lloyd’s compliance expectations.

Qualifications & Experience

• Bachelor’s degree in Finance, Insurance, Actuarial Science, Business, or related field.
• 3–6 years of relevant experience in outward reinsurance, preferably in the UK/London Market.
• Progress toward professional qualifications (CII, actuarial exams, etc.) is advantageous.

Experience in general insurance lines such as property, casualty, specialty, or Lloyd’s business