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

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.

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.