Job Summary
To work within the Outwards Reinsurance department which buys / transacts purchases on behalf of the group to ensure that our balance sheet does not become impaired.Job Description
Company Description
IGI - International General Insurance Co. Ltd. is a leading international specialist commercial insurer and reinsurer with a global portfolio of Energy, Property, Construction & Engineering, Ports & Terminals, Marine, Financial Institutions, General Aviation, Professional Indemnity, Casualty, Directors’ and Officers’, Legal Expenses, Political Violence, Contingency and Treaty Reinsurance. Registered in Bermuda as a limited liability company, with operational headquarters in Amman, Jordan and offices in London, Malta, Bermuda, Norway, Dubai, Kuala Lumpur and Casablanca, we aim to deliver outstanding levels of service to our clients and brokers. The company has a strong financial position, with a financial strength rating of "A-" (Stable) from Standard and Poor's, and an "A" (Stable) rating from A.M. Best. IGI seeks to maintain profitability through prudent risk selection and a diversified business model.
Duties and Responsibilities
- Responsible for all Facultative Claims advices, updates and collection notes.
- Responsible for all Quota Share and Surplus cash calls and loss notification process.
- Chasing brokers for Facultative, Quota Share and Surplus collections / allocate same once settled.
- Process new Excess of Loss Cover Notes and Premium Transactions to the system & prepare files including summary sheets and acceptance forms.
- Prepare memos for Excess of Loss Minimum and Deposit Premiums / Liaise with Finance Department for settlements and receipts.
- Responsible for Quarter End Quota Share and Surplus Bordereau / Technical Accounts
- Responsible for Security Rating Reports
- Responsible for Aging Reports (FAC and XOL)
- OW RI various programs summary for different purposes
- checking monthly statement for Facultative RI outstanding recoveries (if needed)
- Responsible for Ports & Terminals and Marine Trade QS Bdx / SOA
- Responsible for Political Violence Aon Sanction and Non- Sanction Bdx for losses above $500k
- Responsible for Political Violence QS and SP Bdx / SOA
- Responsible for Ports & Terminals and Marine Trade Profit Commission
- Responsible for Political Violence Profit Commission
- Responsible for Premium Adjustment for General Aviation, US CAT and Marine Cargo
- Fac RI Purchased
- Responsible for Internal and External auditing
Job Specifications
Academic Qualifications:
Bachelor’s degree – Preference in Business Administration, Insurance and Risk Management, Actuarial Science.
Experience Required:
6 years (re)insurance experience preferred
Training Required:
n/a
Languages:
Fluent in English, both written and oral
Key Competencies
Excellent PC skills, including Microsoft office
What We Do
Specialist commercial insurer and reinsurer, underwriting a diversified portfolio of specialty lines.
Since our inception in 2001, IGI has been committed to providing specialty lines insurance and reinsurance solutions to our clients’ complex risks. Our reputation is based on focused underwriting expertise, flexibility in responding to customer needs, and ensuring efficient and responsive claims handling, all underpinned by stable management and a strong balance sheet.
Domiciled in Bermuda as a limited liability company, with offices in London, Amman, Bermuda, Malta, Oslo, Dubai, Casablanca and Kuala Lumpur, IGI is listed on Nasdaq Capital Markets under the symbol “IGIC”.
We write a worldwide portfolio of Energy, Property, General Aviation, Construction & Engineering, Ports & Terminals, Marine Cargo, Political Violence, Financial Institutions, General Third-Party Liability (Casualty), Legal Expenses, Professional Indemnity, D&O, Surety, Marine Trades, Marine Liability, Contingency, and Reinsurance Treaty Business.
Our ratings reflect the financial strength of our business: “A” (Stable) from AM Best; “A-” (Stable) from S&P. In 2023, we had net earnings of $118.2 million. Our holding company has assets in excess of $1,837.9 million, as at 31 December 2023
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