Granard Consulting
Ceded Reinsurance Specialist
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Sponsorship isn't being offered with this position, please only apply if you have the right to work in the UK.
This is a hybrid role, 3-4 days per week in the City office.
About the Role
We are seeking an experienced Onshore Ceded Reinsurance Specialist to join our UK reinsurance team. This role is responsible for managing the placement, administration, and oversight of our ceded reinsurance programmes, ensuring effective risk transfer and regulatory compliance within the UK and Lloyd's market frameworks.
Key Responsibilities
As part of your duties, you will be responsible for:
Reinsurance Placement & Programme Management
- Lead the placement of onshore ceded reinsurance treaties and facultative covers across property, casualty, and specialty lines.
- Develop and maintain strong relationships with reinsurers, Lloyd's syndicates, and brokers to secure optimal terms and capacity.
- Negotiate reinsurance contract terms, conditions, and pricing in collaboration with underwriting and actuarial teams.
- Monitor the performance of reinsurance programmes and recommend adjustments as required.
Contract Administration & Technical
- Review and interpret reinsurance contracts, endorsements, and slips to ensure accuracy and alignment with placement intent.
- Manage premium and claims bordereaux, settlements, and cash calls in a timely manner.
- Maintain comprehensive reinsurance records and databases in accordance with internal controls and Lloyd's / FCA requirements.
- Oversee the cedant accounting process including premium payables, recoveries, and loss notifications.
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Risk & Compliance
- Ensure full compliance with Lloyd's Market Association (LMA), FCA regulations, and Solvency II requirements relating to ceded reinsurance.
- Liaise with internal audit, risk, and compliance functions on reinsurance-related matters.
- Support the preparation of reinsurance data for Solvency Capital Requirement (SCR) reporting and ORSA submissions.
- Monitor reinsurer credit risk and maintain approved panel documentation.
Reporting & Stakeholder Engagement
- Prepare management information and board-level reporting on reinsurance programme performance, recoveries, and market trends.
- Collaborate with underwriting, claims, actuarial, and finance teams to support reinsurance strategy.
- Respond to queries from internal and external stakeholders including regulators, auditors, and rating agencies.
Qualifications and Experience
Essential Experience & Qualifications
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- Minimum 4–7 years' experience in ceded reinsurance, treaty administration, or a related reinsurance broking/underwriting role within the UK or 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., Sequel Eclipse, Xuber/Majesco, or similar).
- Proficiency in Microsoft Excel for data analysis and reporting.
Skills and Personal Attributes
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.
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.
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