Facultative Reinsurance placements

Job Description

Reinsurance & Aviation Business

Job Title	Chief Manager/ AVP
Reporting to	NA
Department/Group	Reinsurance and Aviation
HR Contact	NA
Location	PENINSULA BUSINESS PARK, MUMBAI
Level/Salary Range	To be negotiated
Position Type	Full-time
LinkedIn post req.	Yes
Date	ASAP (DOJ)

ROLE OVERVIEW

The candidate will be responsible for managing Facultative Reinsurance placements for Liability, Aviation, and Specialty Lines of Business. The role requires strong technical knowledge, negotiation skills, market relationship management, regulatory compliance, and end-to-end handling of facultative reinsurance transactions from placement to premium settlement. The position will work closely with underwriting teams, reinsurance brokers, reinsurers, operations & finance teams.

ROLE AND RESPONSIBILITIES

Facultative Reinsurance Placement

• Manage facultative reinsurance placements for Liability, Aviation and Specialty Lines by reviewing risk submissions, structuring placements and securing capacity from domestic and international markets.
• Negotiate pricing, commissions, terms and conditions with reinsurers and brokers to obtain optimal coverage and maximize reinsurance profitability.
• Collaborate with underwriting teams to support business growth through timely and effective reinsurance solutions for complex and large-value risks.
• Build and maintain strong relationships with reinsurers, brokers and other stakeholders while monitoring market trends and capacity developments.
• Ensure all placements comply with IRDAI regulations, internal reinsurance guidelines and approved security requirements.

Post Placement & Reinsurance Administration

• Manage end-to-end post-placement activities including documentation, booking, premium settlements, endorsements and maintenance of facultative records.
• Coordinate with underwriting, operations, finance, brokers and reinsurers to ensure timely booking, remittance, and resolution of placement-related queries.
• Review and reconcile signed slips, premiums, commissions and reinsurer participations to ensure accuracy and compliance with agreed terms.
• Support regulatory reporting, audits, management information systems (MIS) and maintenance of placement and settlement trackers.
• Drive operational excellence through effective monitoring of outstanding actions, compliance requirements and process improvement initiatives.

EDUCATION & EXPERIENCE REQUIREMENTS

Preferred Qualifications

• Graduate in Commerce, Business, Insurance, Engineering, Aviation, or related discipline.
• MBA (Insurance/Finance) or professional insurance qualifications preferred (III, AIII, ACII, CPCU, etc.).

Experience

• 5-12 years of experience in General Insurance and/or Reinsurance.
• Minimum 4-5 years of experience in Facultative Reinsurance placement.
• Experience dealing with international reinsurers, Lloyd's markets and reinsurance brokers preferred.

PREFERRED SKILLS

• Understanding of Liability, Aviation and Specialty insurance products.
• Sound knowledge of facultative reinsurance structures and placement processes.
• Strong negotiation and relationship management capabilities.
• Understanding of IRDAI regulations and reinsurance compliance requirements.
• Ability to analyze complex risks and reinsurance requirements.
• Effective communication and stakeholder management skills.
• Strong analytical and problem-solving capabilities.
• High attention to detail and documentation accuracy.
• Proficiency in MS Excel, PowerPoint, and reporting tools.
• Ability to manage multiple placements and deadlines simultaneously.

ADDITIONAL NOTES

• Exposure to Lloyd's and international facultative markets will be an added advantage.
• Prior experience handling large corporate accounts and complex facultative placements preferred.
• Candidate should be comfortable working in a fast-paced environment with multiple stakeholders and strict turnaround timelines.