Senior Underwriter – Treaty (International Business

Saudi Reinsurance Company (Saudi Re) is a leading Reinsurance company in Saudi Arabia and one of the top-ranked Reinsurers in the Middle East.
Saudi Re operates in over 40 countries across the Middle East, Africa, and Lloyd’s markets
, offering both life and non-life reinsurance solutions.
Saudi Re holds strong credit ratings of A2 (Stable) by Moody’s and A- (Stable) by S&P, reflecting its financial strength, diversified portfolio, and disciplined underwriting. With a clear ambition to grow and expand its global footprint, Saudi Re continues to play a key role in advancing the region’s reinsurance industry through innovation, reliability, and strategic partnerships.

Senior Underwriter – Treaty (International Business)

Riyadh

We are seeking an experienced Senior Treaty Underwriter to help develop and manage its growing international reinsurance portfolio.

The role will focus on originating, assessing, structuring and managing profitable international treaty business, with particular emphasis on inward retrocession programs, Lloyd’s-market opportunities and selected MGA or delegated underwriting partnerships.

This is a senior, hands-on position for an underwriter with strong technical judgement, international market relationships and the ability to combine business development with disciplined portfolio and risk management.

• Underwrite international proportional and non-proportional treaty and inward retrocession opportunities across property, casualty and specialty lines.
• Develop business relationships with cedents, reinsurers, Lloyd’s syndicates, MGAs and global brokers.
• Evaluate Lloyd’s and MGA opportunities, including underwriting strategy, governance, delegated authorities, performance, exposure management and claims controls.
• Assess loss experience, exposure data, catastrophe accumulations, pricing adequacy, treaty structures and contractual terms.
• Lead commercial negotiations on pricing, terms, conditions and underwriting controls.
• Monitor portfolio performance, aggregate exposures and concentrations, recommending corrective action where required.
• Ensure contract certainty across treaty, binder and facility wordings.
• Present underwriting recommendations to senior management and relevant committees.
• Represent Saudi Re at international market meetings, conferences and renewals.
• Support the technical development of junior underwriting team members.

Minimum 10 years’ relevant insurance or reinsurance experience, with substantial treaty or inward retrocession underwriting exposure.

• International market experience, preferably including the London or Lloyd’s market.
• Practical experience in at least two of the following areas:
• International treaty reinsurance
• Inward retrocession programs
• Lloyd’s, MGA, binder or delegated underwriting arrangements.
• Strong knowledge of proportional and non-proportional structures, technical pricing, loss analysis, catastrophe exposure, aggregate management and treaty wordings.
• Ability to independently assess complex opportunities and lead technical and commercial negotiations.
• Established relationships with international brokers, reinsurers, syndicates or underwriting platforms.
• Strong commercial judgement and disciplined underwriting approach.

• Bachelor’s degree in insurance, Actuarial Science, Finance, Economics, Engineering or a related discipline.
• ACII or an equivalent professional qualification is strongly preferred.
• Postgraduate or actuarial qualifications would be an advantage.