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Role Title:
Ceded Reinsurance Technician
Location:
London
Department:
Reinsurance
Date of version:
May 2025
Reports To:
Ceded Re Operations Manager
HR Contact:
KR
Role Summary and Purpose
The primary responsibility of this role is to work within the Ceded Reinsurance Operations Team. This role will be working closely with other team members and both internal and external teams to ensure Reinsurance contracts are interpreted, entered and serviced within the XLPro system in a timely fashion. Additional responsibilities will include working with Brokers, Reinsurers and Auditors, to meet regulatory deadlines.
You will be required assist your team members to continually improve the current ways of working and provide support to ensure the team meets it’s goals in a positive way. You will also be expected to work with and support our offshore team (GSO).
Key Tasks and Responsibilities
- Set up ceded contracts for automation in the XL Pro Reinsurance System
- Prepare and render Treaty statements, and ensure policy conditions and accounting terms are met
- Ensure premium payments are made in a timely manner on facultative and excess of loss purchases
- Calculate, prepare and render XOL collections and Advices
- Reporting of Ceded Reinsurance financials, both internally and externally
- Ensure adherence to internal controls, including Risk and SOX controls
- Assist with preparation of any regulatory reporting including Lloyd’s returns, group reporting, terrorism pools
- Develop relationships with internal and external stakeholders to drive efficiency and increase service levels
- Liaise with Ceded Reinsurance purchasers and prepare renewal information as may be required
- Assist with the review of current procedures and recommend enhancements to improve the processes
- Assist with the Financial Reporting, Committees and Board packs and Regulatory Returns
Role Requirements & Skills
Skills / Competencies
- Strong excel skills
- Experience using XLPro is desirable but not essential
- Ability to prioritise and work to deadlines/targets
- Good communication skills, both written and verbal
- Ability to work on their own and use their initiative
Qualifications
- 2 years’ experience in a similar role within the company & Lloyds Insurance market is preferred
Experience
- Experience of all major types of reinsurance i.e. Facultative, Quota Share and Excess of Loss.
- Some experience in both Non Marine and Marine, in particular Property and Casualty classes.
- Awareness of Ceded Reinsurance Regulatory Returns, including SRS, QMA and Solvency II.
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