Reinsurance Manager

About the Role

The Reinsurance Manager will be responsible for overseeing the organisations reinsurance strategy programme design and placement activities. The role requires strong technical expertise in reinsurance structures market engagement and portfolio optimisation to ensure appropriate risk transfer and capital protection.

Working closely with underwriting finance and risk management teams the role ensures that reinsurance arrangements support underwriting growth while maintaining financial stability and regulatory compliance. The position also requires strong relationships with international reinsurers and brokers to secure competitive terms and capacity.

This role is for Saudi Nationals only

Responsibilities

1. Reinsurance Strategy

• Develop and implement the organisations reinsurance strategy in line with risk appetite and capital objectives.
• Assess the adequacy of existing reinsurance structures and recommend programme enhancements.
• Provide strategic advice to senior management on reinsurance optimisation.

2. Programme Design & Placement

• Structure and place treaty and facultative reinsurance programmes across relevant lines of business.
• Negotiate terms pricing and coverage conditions with reinsurers and brokers.
• Ensure placements achieve optimal risk transfer and cost efficiency.

3. Reinsurance Market Relationships

• Build and maintain strong relationships with regional and international reinsurers.
• Represent the organisation in market meetings renewals and strategic negotiations.
• Monitor reinsurer security ratings and capacity availability.

4. Portfolio Monitoring

• Analyse portfolio performance and reinsurance recoveries to ensure programme effectiveness.
• Monitor exposure accumulations and treaty utilisation levels.
• Recommend adjustments to maintain balance between retention and risk transfer.

5. Financial & Reporting Oversight

• Coordinate reinsurance accounting recoveries and bordereaux reporting.
• Work with finance teams to ensure accurate reconciliation of premiums commissions and claims.
• Support financial planning through reinsurance cost analysis and forecasting.

6. Governance & Compliance

• Ensure all reinsurance arrangements comply with regulatory and internal governance requirements.
• Maintain accurate documentation of treaties facultative placements and endorsements.
• Support internal and external audits relating to reinsurance activities.

Education & Qualifications

• Bachelors degree in Insurance Finance Risk Management or a related discipline.
• Minimum 6 plus years of experience in reinsurance underwriting broking or programme management.
• Professional insurance qualification such as ACII or equivalent is strongly preferred.
• Strong understanding of treaty and facultative reinsurance structures.
• Demonstrated negotiation skills and experience working with international reinsurance markets.