Job Position: Reinsurance Manager
Job Description: Financial Horizon Services (FHS) – Jeddah, Makkah – KEY JOB RESPONSIBILITIES : Formulate reinsurance related strategies and arrangements. Placement of annual reinsurance treaty contracts with reputed reinsurance companies, locally and/or internationally. Ensures submission of annual Reinsurance strategy to BOD and SAMA, as per finalized reinsurance arrangements for the year. Conveying the annual Reinsurance terms and conditions to the Technical Manager on a timely basis. Monitoring performance of participating reinsurers, throughout the year, both with UCA and with other market companies and conveying any adverse development to the CEO and take appropriate action. Timely collection of reinsurers’ share of paid claims. Speedy collection of cash-call/on-account payment from the participating reinsurers, in case of payment is required to be made for a major claim. Assessing proper retention limit in consultation with CEO and finance division, for all classes of insurance. Assessing proper priority limit in consultation with CEO an…
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