Job Specifications
Job Title: Reinsurance Contract Wordings Specialist
Location: London/Hybrid (Typically 2/3 days in the office)
Type: Full time – Permanent (If you are a job share partnership, work reduced hours, or any other way of working flexibly, please do still get in touch)
At Price Forbes Re, we provide much more than just a workplace. We are dedicated to fostering skill development and knowledge within a team that is passionate about their work, values their Employees, and truly celebrates diversity.
Working at Price Forbes Re means you’ll be part of The Ardonagh Group. We are proud of our innovative environment offering many opportunities for growth across the wider group. Employees regularly move between our united teams, and we encourage you to make your role your own.
Our offices are lively and exciting places to be, but we understand that life needs flexibility, and offer a genuinely flexible approach to working. If you are looking to join a thriving, energetic business with exciting plans, this role could be an ideal fit for you.
What We Can Offer
We offer much more than just an inclusive culture with apprenticeships, study support, participation in our annual Spotlight Awards, Community Trust, Sports Teams, office socials, events and so much more. All of this with a supportive management team as well as working alongside some of the industry’s top talent.
You’ll have access to wellbeing programs, fantastic discounts across many big-name businesses including supermarkets, gym memberships, restaurants, and healthcare cash plans etc.
Further Perks Of Working With Us (Fixed Benefits)
Employer pension contribution of 10% (providing you, the Employee provides 5%).
Good work life balance - flexibility to suit you.
Competitive salary.
Life Assurance at X4 of your base salary.
Group Income Protection.
Generous Annual Leave entitlement.
Private Medical Insurance.
Group annual bonus scheme.
This opportunity is ideal for a Reinsurance Wordings Specialist with experience in treaty classes seeking to develop their career in an innovative broker in the always changing insurance industry and learning the Contract Governance role and strategy.
The team is based in London but servicing all hubs and looking to grow to improve further our delivery of personalised solutions for our clients as they manage their risk and structure their reinsurance needs. These solutions include multi-year, multi-line, fronting and captive reinsurances, Treaty reinsurance and Direct and Facultative. The role is mostly focused on Facultative Reinsurance and Treaty solutions for our clients.
You will work closely with our Wordings Director, the rest of our Analytics team, Brokers and Claims to discuss, create, manage, and review all types of reinsurance related documentation and strategies focused on solutions for our clients. You will ensure contracts reflect the intent of negotiations and meet regulatory and prudential requirements whilst addressing clients’ concerns on coverage and others matters such as licensing, claims and capital efficiencies.
Key Responsibilities
Review and create along with the reinsurance treaty and fac teams all documentation relating to the company's reinsurance business (binders, slips, contracts, I&L Agreements, agreements, assignments, and NDAs) against specific requirements of each placement.
Raise potential issues as appropriate and negotiate resolution with brokers/ counterparties.
Perform quality assurance review of contracts to ensure contract wording reflects intent of the negotiations.
Consider International Licensing issues.
Consider and provide guidance to stakeholders on compliance with GDPR and the Personal Information Protection Act
Promote and maintain relationships with clients and key business partners, including participating in regular conference calls/meetings with key clients to obtain feedback on outstanding contract issues.
Compile library of approved wordings (e.g., required reinsurance clauses, template contracts, NDAs, etc.)
Schedule meetings, prepare Lunch &Learn packages and participate on the strategic planning of Contract Management.
Job Requirements
2+ years of Reinsurance contract review experience,
Knowledge of reinsurance contract documentation, reinsurance concepts, and basic regulatory issues and/or keen interest to learn those.
Excellent organizational skills
Strong attention to detail
Legal training is not a requirement, but it is desired.
At ease communicating with people at every level of the organization & able to work with remote colleagues
Data-driven and innovative-minded, you are able to trial and implement new applications and digital ways of working.
Think you don’t meet every requirement?
We are dedicated to creating a diverse, inclusive, and authentic workplace where everyone can thrive . If you’re excited about this role, but your experience doesn’t perfectly match what we are looking for, please apply anyway. You might just be the right fit for the job