Universal Sompo General Insurance Co. Ltd.
Website:
universalsompo.com
Job details:
The Head - Reinsurance will be responsible for developing and executing the Company's reinsurance strategy to ensure optimal risk transfer, capital efficiency, profitability, and regulatory compliance. The role will lead the design, placement, negotiation, and administration of treaty and facultative reinsurance arrangements while maintaining strong relationships with global reinsurers, brokers, and industry stakeholders. The incumbent will play a critical role in supporting underwriting growth, portfolio management, catastrophe protection, and enterprise risk management objectives.
Role & responsibilities
Reinsurance Strategy & Portfolio Management
- Develop and implement the organization's comprehensive reinsurance strategy aligned with business growth and risk appetite.
- Structure and optimize proportional and non-proportional reinsurance programs across all product lines.
- Ensure adequate catastrophe and accumulation protection through appropriate treaty structures.
- Evaluate reinsurance effectiveness and recommend improvements to enhance profitability and capital utilization.
Treaty Management
- Lead annual treaty renewals, negotiations, and placements across property, engineering, marine, liability, health, motor, crop, and specialty portfolios.
- Design treaty structures balancing risk retention, capital management, and profitability objectives.
- Assess portfolio performance and recommend retention limits and capacity requirements.
- Coordinate with underwriting and actuarial teams to ensure treaty adequacy and effectiveness.
Facultative Reinsurance
- Manage facultative placements for large, complex, and specialized risks.
- Negotiate competitive terms, conditions, and pricing with reinsurers and brokers.
- Ensure timely placement and confirmation of facultative covers to support business growth.
Stakeholder & Relationship Management
- Develop and maintain strategic relationships with domestic and international reinsurers, brokers, rating agencies, and regulatory bodies.
- Represent the company during reinsurer meetings, treaty discussions, industry forums, and market interactions.
- Enhance Universal Sompo's visibility and credibility within the global reinsurance market.
Risk Management & Analytics
- Collaborate with Underwriting, Actuarial, Finance, Risk Management, and Claims teams to assess portfolio performance and emerging risks.
- Monitor catastrophe exposures, accumulation risks, and concentration limits.
- Utilize portfolio analytics and actuarial insights to optimize risk transfer arrangements.
- Support solvency management and capital adequacy initiatives.
Regulatory & Compliance
- Ensure compliance with IRDAI regulations, guidelines, and reporting requirements relating to reinsurance.
- Maintain governance standards and adherence to internal risk management frameworks.
- Oversee timely submission of reinsurance-related regulatory reports and disclosures.
Financial Management
- Manage reinsurance budgets, costs, recoveries, and profitability metrics.
- Monitor reinsurer credit quality and counterparty exposures.
- Drive efficient recovery management and outstanding reinsurance balances.
Leadership & Team Management
- Lead and develop a high-performing reinsurance team.
- Foster a culture of collaboration, accountability, innovation, and operational excellence.
- Build succession pipelines and strengthen organizational capability within the reinsurance function.
Experience
- 15-20+ years of experience in General Insurance and Reinsurance.
- Proven experience managing treaty and facultative reinsurance portfolios.
- Strong exposure to Property, Engineering, Marine, Liability, Health, Motor and Specialty insurance lines.
- Established relationships with international reinsurers and reinsurance brokers.
- Prior leadership experience within a large General Insurance organization preferred.
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