Ceded Reinsurance – Senior Reinsurance Technician

London, England, United Kingdom

Ceded Reinsurance is a strategic function within AXA XL in charge of defining and implementing the reinsurance strategy as well as administrating all reinsurance treaties through their lifecycle. Ceded Re is part of the AXA XL Risk Management function, the AXA XL Chief Risk Officer being member of AXA XL Leadership team.

Ceded Re Operations team is responsible for the administration of all Treaty Reinsurance business written within AXA XL. Ceded Re Operations is composed of four key areas: Technical Operations, Technical Accounting, Data & Operations Reporting and Central Operations. This role resides within the Ceded Reinsurance Technical Operations team based in London, which is responsible for:

Administering Global Specialty & Property Treaty including claims for identification and application of Ceded Reinsurance.

The individual will be required to administer Marine, Property and other Specialty lines of business claims, to include but not limited to the following classes.

Hull and Cargo
Upstream and Downstream Energy
Ports and Terminals
Marine War
Inland Marine
Recreational Marine
Energy Liability
Fine Art and Specie
Aquaculture
Accident and Health
Product Recall
Equine
Property
Aviation

The individual will be required to:

Monitor inward claim movements to identify and apply where ceded recoveries can be made. Calculating and applying ceded recoveries in core underwriting systems for both QS and XOL. Perform sign off on material collections and advice issued based off audit thresholds.
Manage and operate Ceded reinsurance in 3 operating system tools.
Review Ceded comments from ESS India team on weekly / monthly reports to ensure correct application of Ceded to Treaty. Manage control framework for Ceded claims key controls.
Partner with our intermediaries to manage claims queries and sanction related issues.
The role will be supported by our operations team based in ESS Shared services area in India. The individual will be required to build close relationships with the team and hold regular calls to discuss workload and issues, providing support as required.
Provide review and sign-off of new policy set up by ESS Shared Services in core systems.
Will work closely with our Ceded Claims team to support commutation requests and manage complex claims.
Ensure all contractual reporting requirements are met and reviewed as part of the weekly movement reports.
For any losses that have involvements in Insurance & Reinsurance segment make sure all are covered under Global covers and reported appropriately.
Work closely with Technical Accounting team to support the credit control process and improve cash flow. Providing supporting narrative and reports for ceded claims, assisting with aged debt and collateral requests.
Attend regular meetings with Ceded Placement Officers to understand new placements and how ceded can be applied. Ensuring understanding of how placements for various lines of business interact and inuring relationships.

REPORTING LINE

Alex Davey – Manager – Ceded Re Technical Operations

DISCOVER your opportunity

ENVIRONMENT AND CHALLENGES:

Mandate

Ceded Re Operations team oversees accurate records of ceded reinsurance transactions (Treaties, Facs and Captives) across AXA XL BUs (UK & Lloyds, Americas, APAC & Europe) and is accountable and responsible for Treaties (excl. Internal treaties) representing $7.4 Bn of ceded premiums in B2022 (ca. 70 treaties) and corresponding to ca.:

700 contracts set up year in the 3 operating tools.
80k bordereaux issued per year.
1.2K statements issued per quarter for QS treaties.
40K claims movements reviewed per month (Genius).
Large loss reporting to senior management for Ceded input

Team Management

Working closely with our Shared services India team including monitoring, review and training on claims matters

Exposure within AXA XL

Claim management with brokers & reinsurers for any queries arising

Legal – liaise with Legal for matters arising from claim and with regard to Sanctions

Claims adjusters – build relationships with internal claims adjusters.

Senior claims management – exposure to senior claims management on large loss reporting.

Finance & Actuarial – communication know any claims adjustments post close for accrual consideration.

Ceded claims group – liaison on large claim matters

SHARE your talent

We’re looking for someone who has these abilities and skills:

Experience with multiple lines of business in claims environment in previous Insurance roles.
Advanced command of MS office and in particular advanced Excel skills and potential Access.
Ability to liaise with key stakeholders internally and externally.
Expert Collaborator: can work effectively with key stakeholders at all levels
Coaching and capability-building, conscientious about quality and accuracy of work provided
Excellent Time management and organization skills
Agility and ability to work on several topics at the same time
Experience working with a virtual team
Strong Communicator: Excellent verbal and written communication, collaboration, and presentation skills (both in-person and virtually)
Able to work to tight deadlines to correctly reflect in financials for close
Good eye for detail and process.
Comfortable in giving training to team where required.
Ability to travel to other AXA XL offices for meeting and training colleagues.

FIND your future

AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don’t just provide re/insurance, we reinvent it.

How? By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business − property, casualty, professional, financial lines and specialty.

With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.

Learn more at axaxl.com

Inclusion & Diversity

AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic.

At AXA XL, we know that an inclusive culture and a diverse workforce enable business growth and are critical to our success. That’s why we have made a strategic commitment to attract, develop, advance and retain the most diverse workforce possible, and create an inclusive culture where everyone can bring their full selves to work and can reach their highest potential. It’s about helping one another — and our business — to move forward and succeed.

Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe
Robust support for Flexible Working Arrangements
Enhanced family friendly leave benefits
Named to the Diversity Best Practices Index
Signatory to the UK Women in Finance Charter

Learn more at axaxl.com/about-us/inclusion-and-diversity. AXA XL is an Equal Opportunity Employer.

Sustainability

At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called “Roots of resilience”, focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.

Our Pillars:

Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society – are essential to our future. We’re committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
Addressing climate change: The effects of a changing climate are far reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.

For more information, please see axaxl.com/sustainability

Ceded Reinsurance jobs

Senior Reinsurance Technician (24 month FTC)