Junior Reinsurance Specialist

Ceded Reinsurance - Junior Reinsurance Specialist

AXA XL is an Equal Opportunity Employer.

Ceded Reinsurance is a strategic function within AXA XL in charge of defining and implementing the reinsurance strategy as well as administrating all reinsurance treaties through their lifecycle. Ceded Re is part of the AXA XL Risk Management function, the AXA XL Chief Risk Officer being member of AXA XL Leadership team.

Ceded Re Operations team is responsible for the administration of all Treaty Reinsurance business written within AXA XL. Ceded Re Operations is composed of 4 key areas:
Technical Operations, Technical Accounting, Data & Operations Reporting and Central Operations.

This role resides within the Ceded Reinsurance Casualty Technical Operations team based in London, which is responsible for:

Managing the life cycle of Treaties for Global reinsurance for Casualty lines of business.

The individual will be required to participate in all aspects of administration of Ceded Reinsurance. This will include;

• Liaising with cessions to Pools.
• Policy set-up in core systems for Treaty.
• Ensuring premium is paid as per contractual obligations.
• Identification and application of ceded recoveries.
• Working with broking intermediaries to resolve reinsurer query.
• Application of Retro RI tool to ensure correct QS cessions.

The individual will be required to:

• Manage and operate Ceded reinsurance in 3 operating system tools.
• Assist with set up for Facultative business set up in core systems, liaisng with underwriters on contract provision. Manage and adhere to payment terms.
• Work within our broker intermediaries in resolving any queries on accounts, such as Sanctions to resolve ensuring cash flow is optimised.
• The role will be supported by our operations team based in ESS Shared services area in India. The individual will be required to build close relationships with the team and hold regular calls to discuss workload and issues, providing support as required.
• Support Ceded Re transformation journey, actively participating in projects which aim to drive efficiency. Review process and where appropriate suggest improvements.
• Oversee any cash calls to issue as per contractual provisions.
• Ensure all contractual reporting requirements are met.
• Work closely with Technical Accounting team to support the credit control process and improve cash flow.
• Attend regular meetings with Ceded Placement Officers to understand new placements and how ceded can be applied. Ensuring understanding of how placements for various lines of business interact and inuring relationships.
• Provide review and sign-off of new policy set up by ESS Shared Services in core systems.

REPORTING LINE

TBC

Mandate

Ceded Re Operations team oversees accurate records of ceded reinsurance transactions (Treaties, Facs and Captives) across AXA XL BUs (UK & Lloyds, Americas, APAC & Europe) and is accountable and responsible for Treaties (excl. Internal treaties) representing $7.4 Bn of ceded premiums in B2022 (ca. 70 treaties) and corresponding to ca.:

• 700 contracts set up year in the 3 operating tools;
• 80k bordereaux issued per year;
• 1.2K statements issued per quarter for QS treaties;
• 40K claims movements reviewed per month (Genius);
• Large loss reporting to senior management for Ceded input

Team Engagement

Working closely with our Shared services India team including monitoring, review and training on reinsurance treaty matters.

Work with our Inward processing Middle office area for matters of specific RI such as Facultative.

Claim management with brokers & reinsurers for any queries arising

Legal – liaise with Legal for matters arising from claim and also with regard to Sanctions

Claims adjusters – build relationships with internal claims adjusters.

Senior claims management – exposure to senior claims management on large loss reporting.

Finance & Actuarial – communication no any claims adjustments post close for accrual consideration.

Ceded claims group – liaison on large claim matters

We’re looking for someone who has these abilities and skills:

• Some experience with multiple lines of business in Reinsurance…