Reinsurance Technician

In good company.

Hamilton (NYSE: HG) underwrites specialty insurance and reinsurance risks on a global basis through its wholly owned subsidiaries. Its three underwriting platforms: Hamilton Global Specialty, Hamilton Select and Hamilton Re, each with dedicated and experienced leadership, provide access to diversified and profitable business around the world.

Headquartered in Bermuda, Hamilton has over 600 employees with key underwriting operations in London, Bermuda, the US and Dublin. We work collaboratively, we share a passion for the service and results we deliver, and we know that what we do each day is meaningful – to our customers and our business. We believe we are ‘In good company.’ with everyone we interact with.

We're looking for a

Reinsurance Technician

Based in London or Dublin and reporting to the Ceded Reinsurance Operations Manager, this role will support the end-to-end reinsurance operational processes for Hamilton and the third-party syndicates that it manages. This role will support the administration of all operational aspects of ceded reinsurance, proportional & non-proportional business.

What you will do

Contract Set-Up

• Review and sign off ceded contract set up to ensure all terms and conditions are appropriately recorded in the reinsurance system


• Provide premium settlement details to the relevant brokers in a timely manner


• Support the premium settlement process

Proportional

• Review ceded premium and claim calculations, including accounting classifications, obtaining sign off from team managers


• Support bordereaux reporting and the settlement process


• Calculate profit commission calculations


• Initiate and process cash call recoveries


• Administer sliding scale commissions

Non-Proportional

• Support the review of M&D premium bookings / accounting classifications


• Assist with ceded recovery calculations, including any associated reinstatement premiums


• Calculate recovery collections including aged debt and be the broker point of contact as required


• Support the calculation of XOL subject premium adjustments

Reporting

• Preparation of Lloyd’s SRS returns and any other associated ceded reinsurance data for regulatory reporting


• Provide ceded data to the actuarial function


• Liaise with the claims department for recovery support and queries as required


• Assist with providing data for reinsurer audits


• Assist with both internal and external audits


• Handover of ceded data to the reinsurance finance team


• Assist with preparing ceded ultimate premium data


• Prepare Ceded Reinsurance Working Group (CRWG) packs and material for other meetings as required


• Assist with maintenance and update of process and procedure documentation


• Any further ad hoc reporting requirements to include supporting any project or system initiatives

What you require for the role

• Relevant experience in all types of ceded reinsurance (desirable)


• Good user of Excel / Word / PowerPoint


• Reinsurance systems experience (SICS Cede helpful)


• CII qualification (desirable)


• Experience working in both the Lloyd’s and company markets (desirable)


• Open, innovative and inclusive mindset


• Collaborative spirit


• Results-oriented

Conduct Standards

• You must act with integrity


• You must act with due skill, care and diligence


• You must be open and cooperative with the CBI, FCA, the PRA and other regulators


• You must pay due regard to the interests of customers and treat them fairly


• You must observe proper standards of market conduct


• You must act to deliver good outcomes for retail customers

What you can expect from us

We offer a vibrant, entrepreneurial, and collaborative culture guided by our values: Be Smart, Be Sensible, Be Open and Be More.

We know if we welcome and respect differences, we’ll attract and retain talent that brings a valuable diversity of perspectives and experience. We want all our colleagues to feel that they can bring their whole selves to work at Hamilton and know that they can be part of building a great company.