Senior Legal Counsel, Ceded Reinsurance

Overview

What part will you play? If you’re looking for a place where you can make a meaningful difference, you’ve found it. The work we do at Markel gives people the confidence to move forward and seize opportunities, and you’ll find your fit amongst our global community of optimists and problem-solvers. We’re always pushing each other to go further because we believe that when we realize our potential, we can help others reach theirs.

Join us and play your part in something special! Senior Legal Counsel, Ceded Reinsurance partners closely with Markel’s Global Ceded Reinsurance and ILS teams to provide end-to-end legal support for complex outwards reinsurance and collateralized risk transfer transactions. The role has primary responsibility for structuring, drafting, negotiating, and closing reinsurance agreements, trust and collateral frameworks, commutations, and specialty product documentation, with particular focus on fronting arrangements, quota shares, ILWs, and ILS programs supporting Markel Bermuda Limited.

Operating in a highly cross-functional and global environment, this role collaborates with underwriting, finance, claims, brokers, and Nephila’s legal teams across Bermuda, London, and the U.S., while ensuring regulatory compliance, governance alignment, credit and concentration risk controls, and timely execution of agreements in accordance with Markel’s global wording standards and service expectations.

Job Posting Title: Senior Counsel, Ceded Reinsurance

Summary:

This role will partner with and primarily support the contract needs of Markel’s Global Ceded Reinsurance team, including reinsurance agreements, trust agreements, intermediary/broker agreements, commutations agreements, non-disclosure agreements, etc.

The role is highly cross‑functional, partnering with Underwriting, Ceded Re, Finance/Accounting Policy, Claims, and Nephila’s legal team in Bermuda, London, and the US.

Job Responsibilities

• Partner with Markel’s Ceded Re Placement leads to understand each reinsurance deal and take primary responsibility over drafting, editing, and finalizing the various contracts associated with each outwards reinsurance placement. This includes understanding the product lines covered, their respective coverages, appropriate exclusions, and the proposed/final reinsurance terms.
• Partner with Markel’s Ceded Re team in negotiation of contract terms, reinsurance coverage, and other wordings to protect Markel’s interest and ensure contracts align with the intent.
• Primary responsibility for managing contracts associated with the Insurance Linked Securities (ILS) market in order to provide end‑to‑end legal support for Markel Bermuda Limited’s fronting and ILS activities, including structuring, drafting, negotiating, and closing quota share and related agreements; overseeing trust and collateral frameworks; managing industry loss warranty (ILW) arrangements; advising on specialty products; and coordinating Bermuda regulatory engagements and board governance.
• Structure and maintain trust agreements and Risk Transfer Framework Agreements (RTFAs) supporting Markel’s ILS fund groups ensuring collateral sufficiency, trust operations, and signatory governance for payments.
• Provide advice on all specialty products legal documents from end to end including reservations-of-rights (ROR) language, claims, commutation, and other agreements.
• Form strong relationships with ILS council to help build strong relationships between the ILS group, legal and ceded.

• Draft and negotiate commutation amendments and legacy claim clean‑ups; coordinate with Finance/Claims and audit trail requirements.
• Serve as the backup legal interface with Nephila counsel and internal partners (Head of ILS Solutions, Managing Director Ceded Re, Accounting Policy, Claims), facilitating quick issue resolution and document execution.
• Partner with Ceded Re leadership to embed counter party concentration and credit‑risk controls into master QS language/MOUs and future fronting frameworks.
• Ensure all agreements are executed on a timely basis to meet internal Markel Service Level Agreements, as well as the appropriate regulatory requirements.
• Maintain and…