EXL
Ceded Reinsurance Specialist
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EXL (NASDAQ: EXLS)
EXL (NASDAQ: EXLS) is a global data and artificial intelligence ("AI") company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect.
We are headquartered in New York and have more than 60,000 employees spanning six continents. For more information, visit www.exlservice.com.
Role Title: Ceded Reinsurance Specialist
BU/Segment: Insurance / Reinsurance
Location: London, United Kingdom (Hybrid working 4 days a week in the office)
Employment Type: Permanent
Summary of the role:
We are seeking an experienced Onshore Ceded Reinsurance Senior Specialist to join our UK reinsurance team. This role is responsible for supporting the administration, and oversight of our ceded reinsurance programmes.
This is a key role within Ceded Reinsurance and requires a collaborative, team-oriented approach. In addition to day-to-day operational activities, you will also be actively working across various tactical and strategic projects to increase efficiency and quality of ceded reinsurance processes.
As part of your duties, you will be responsible for:
- FAC Contract Administration
- Main point of contact from Ceded Re Ops for all Facultative RI covers. This includes review and interpret reinsurance contracts, facilitating security review and review contract terms setup in operational system.
- Engage with the underwriting team on Fac placements documentation
- Oversee the accounting process including premium payables, recoveries, and loss notifications.
- Large Loss Recovery Management
- Support Netting down requests from Claims team
- Take lead in engaging with Claims in resolving any external queries on losses
- Review XOL and FAC loss notification on large losses
- Broker relationship and Party data management
- Liaise and co-ordinate broker communications, including regular updates on credit control
- Manage Reinsurer counterparty data considering various ceded re policies and reporting requirements
- Syndicate Ceded Re champion
- Champion Lloyds LORS processes and engage with brokers, Offshore operations team and Finance to help facilitate LORS processes and Lloyds reporting.
- Team and Stakeholder engagement
- Liaise with the offshore ceded operations team and guide them through various ceded processes and reporting
- Support enhancement of ceded reinsurance metrics and dashboard
- Participate in various cross functional projects and initiatives, as required
- Co-ordinate and facilitate reinsurer audits
- Collaborate with Ceded Re purchasing, underwriting, claims, actuarial, and finance teams to support reinsurance strategy and processes.
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Qualifications and experience we consider to be essential for the role:
Essential Experience & Qualifications
- 10–15 years' experience in ceded reinsurance, treaty administration, or a related reinsurance broking/underwriting role within the UK and Lloyd's market.
- Strong working knowledge of treaty and facultative reinsurance structures (proportional and non-proportional).
- Familiarity with UK regulatory requirements including Solvency II, Lloyd's minimum standards, and FCA obligations.
- Experience with reinsurance administration systems (e.g. XL Pro, Sequel Eclipse or similar.
- Proficiency in Microsoft Excel for data analysis and reporting.
Desirable
- ACII qualification (Chartered Insurance Institute) or working towards it.
- Experience in Lloyd's of London market environment.
- Exposure to reinsurance run-off or legacy portfolios.
- Knowledge of IFRS 17 implications for reinsurance contracts held.
Skills and Personal attributes we would like to have:
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Key Competencies
- Strong analytical and numerical skills with attention to detail.
- Excellent communication and negotiation skills.
- Ability to manage multiple priorities and deadlines in a fast-paced environment.
- Collaborative team player with the ability to work cross-functionally.
- High degree of professional integrity and commercial awareness.
As part of a leading global Data and AI company, you can look forward to:
- A competitive salary with a generous bonus, private healthcare, critical illness life assurance at 4 x your annual salary, income protection insurance, and a rewarding pension.
- EXL provides everyday financial well-being solutions, such as cash back cards, in which you can earn cashback while enjoying discounts, promotions, and offers from top retailers. We also offer a Cycle Scheme where you can save money on bikes and cycling accessories.
- At EXL, we are committed to providing our employees with the tools and resources they need to succeed and excel in their careers. We offer a wide range of professional and personal development opportunities. We also support a range of learning initiatives that allow our employees to build on their existing skills and knowledge. From online courses to seminars and workshops, our employees have the opportunity to enhance their skills and stay up to date with the latest trends and technologies.
- As an Equal Opportunity Employer, EXL is committed to diversity. Our company does not discriminate based on race, religion, colour, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, age, or disability status.
- EXL employees are eligible to purchase stock as part of our Employee Stock Purchase Plan (ESPP).
- At EXL, we offer a flexible hybrid working model that allows employees to live a balanced, healthy lifestyle while strengthening our culture of collaboration.
To be considered for this role, you must already be eligible to work in the United Kingdom.
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