Senior Reinsurance Technician

About the role

A specialist insurance business in the Lloyd's market is looking for an experienced Senior Reinsurance Technician to take ownership of outwards reinsurance administration, accounting and reporting. The role covers a broad range of ceded reinsurance activities, including premium adjustments, commissions, recoveries, settlements and counterparty balances, alongside the reinsurance subledger. It is based in London and reported to the Reinsurance Operations Manager.

Key responsibilities

• Administer ceded reinsurance transactions, including premiums, premium adjustments, profit commissions, recoveries and broker rebates
• Own the outwards reinsurance subledger, keeping contract reference data, accounting records and credit control balances accurate
• Manage contract administration, applying treaty terms and meeting contractual deadlines
• Prepare recovery billings, collect outstanding balances and maintain credit control and aged debt reports
• Reconcile and agree reinsurance statements with finance colleagues on cash allocation and account reconciliation
• Calculate and review cash losses, profit commissions, portfolio transfers and reinstatement premiums
• Monitor excess of loss recoveries, including indexation provisions, and issue loss notifications
• Support monthly and quarterly close, regulatory returns, quota share statements and collateral monitoring
• Produce reporting on exposures, premium spend, brokerage, burning costs, variances and counterparty balances
• Work with actuaries on quarterly reserves by programme and support reinsurer security reviews and commutation analysis
• Prepare management information for committees and boards, and improve processes, system use and data integrity

Required profile

• At least five years' experience in outwards reinsurance administration and operational practices
• Strong attention to detail and accuracy in processing and reporting
• Ability to manage competing priorities and meet reporting and contractual deadlines
• Questioning mindset and flexibility as systems and processes evolve

Required skills

• Experience using XL Pro or another outwards reinsurance administration system
• Confidence with data and proficiency in Microsoft Office
• Desirable: Lloyd's regulatory returns (SRS and QMA), CII qualifications, credit control and reinsurance recovery experience, LORS and market settlement knowledge