Responsible for the day-to-day management activities associated with assigned captive (re)insurers. This will involve the calculation and recording of all inwards and outwards reinsurance contracts of several captive insurers, ensuring that robust control and reconciliation processes are in place. Main Responsibilities include: Captive Client Servicing • Manage captive client relationships to ensure service satisfaction. • Manage the regulatory licensing and incorporation of captive insurers under our management in the UAE. • Manage and monitor the client services function within the office and operations group to ensure the highest performance standards and customer satisfaction. • Keeps internal and external clients as the focal point of all activities. • Prepare and manage client board meetings, draft minutes, and submit the relevant annual filings to the appropriate registrar of companies. • Represent the captive insurer at a senior level with the captive-owner, its brokers, cedants, reinsurers, regulators, loss adjusters and other relevant stakeholders within the industry. • Assist with calculating and booking of inward and outward reinsurance premiums, VAT and claims (including claim recoveries from reinsurers) in respect of complex captive reinsurance programs and their facultative reinsurance covers. • Record claims transactions, prepare claims reports and assist with reserving. Review and monitor outstanding loss reserves for each captive (re)insurer under management. • Provide inwards and outwards reinsurance premium and claims data to other stakeholders. • Assist with analytical review and interpretation of quarter-end results of all aspects of the inward reinsurance assumed and the outward reinsurance ceded. • Analysis of statistics for complex reinsurance programs. • Assist with VAT calculations / VAT return preparations. • Ensure high quality data and contract set-up within the captive management systems. • Provide support for cash received and interact with the r/I brokers and/or retro-markets to ensure that claims are processed and recovered.
