Executive - Reinsurance

Executive - Reinsurance

Union Assurance is a leading corporate and the fastest growing entity in the Life Insurance industry backed by the strength and stability of John Keells Holdings PLC, one of Sri Lanka's largest conglomerates. For the 9th consecutive year, the company has received the GPTW certification as a ‘Best Employer Brand,' and in 2020 was awarded the ‘Global Employer Brand’ by the World HRD Congress.

The Job:

The person will be responsible to provide assistance in reinsurance activities such as risk sharing, liability calculation, pricing, and documentation to ensure smooth functioning of the reinsurance function

Principal Accountability:

•  Assist in the preparation and processing of reinsurance contracts and related documents and conduct data entry and analysis to support the  Reinsurance Associate in the decision-making process.
• Perform calculations and assist with pricing and rating activities as required.
• Review and verify reinsurance data to ensure accuracy and completeness
• Maintain accurate and up-to-date records of reinsurance activities and prepare reports and presentations as required for management and other stakeholders
• Respond to inquiries and requests for information from internal and external stakeholders
• Coordinate and communicate with other departments as necessary to support reinsurance activities
• Ensure compliance with internal policies and external regulations related to reinsurance
• Conduct research and analysis to support decision-making in the reinsurance function
• Identify and escalate issues or concerns to the Reinsurance Associate for resolution
• Work collaboratively with other team members to achieve departmental goals
• Stay up to date with industry trends and changes in regulations related to reinsurance
• Ensure timely and accurate processing of reinsurance transactions and requests
• Assist with ad hoc projects as assigned and undertake any other duties and responsibilities as assigned by the supervisor.

Qualifications and Experience:

• Bachelor’s Degree from a recognized university/ Institute
• Minimum 2 years’ experience at reinsurance Department in Life Insurance will be an added advantage.
• CIP - SLII or Part / Full Qualification in Dip -CII / AIII is essential
• Good understanding and knowledge about competitor products and practices, trends & developments in the life insurance market in Sri Lanka
• Fair understanding on regulatory framework of Insurance industry
• Fair knowledge on reinsurance arrangements.  
• Broad knowledge in Microsoft office applications 
• Ability to work under minimum supervision, multi-task and work under pressure
• A self-motivated individual as well as a team player