Reinsurance & Bonds Underwriting Officer at Cannon General Insurance (K) Ltd

Job Description

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PURPOSE OF THE ROLE

Reporting to the Snr. Underwriting Manager, the Reinsurance & Bonds Underwriter will:

Manage all phases of reinsurance arrangement and reporting, from the initial phases of treaty development, coordination with third parties, monthly processing and periodic reporting and quotations. Execute, manage, and supervise bond accumulation records.

PRIMARY Duties & Responsibilities

· Ensure and cause adherence to company reinsurance practices, policies, controls as per set guidelines. · Ensure compliance with reinsurance requirements by IRA and other relevant bodies and various audit processes. · Prepare Reinsurance returns and ensure timely submission to the relevant authorities and governing bodies. · Maintain and review reinsurance premium register to ensure risks are ceded optimally and in line with the reinsurance arrangements in place. · Participate in negotiation and establishment of treaty arrangements. · Timely reporting of claims to Treaty reinsurers and collection on recoveries. · Carry out facultative business placement and acceptance while ensuring compliance with company polices. · Provide clients with guidance on customs requirements pertaining to bonds. · Analyze underwriting information and assess bonds risks within the framework of company standards and recommend acceptance. · Timely receipt of all stipulated documents and information necessary to undertake/underwrite a bond before risk acceptance. · Timely cancellation of bonds upon expiry of the bond period · Any other duty as may be assigned by the management from time to time.

Requirements

Qualifications and Experience

Bachelor’s degree in insurance or related field. IIK/CII qualifications. At least 3 years’ experience in a similar role.

Required skills and Competencies.

Good understanding of general business insurance principles and practices in Kenya. Keen attention to details with a high level of accuracy. Self-driven, flexible, and agile with strong work ethic. Good analytical, organizing and reporting skills. High work ethic and ability to handle confidential information.