Head of Re-Insurance

Job Description

Title: Head of Re-Insurance

Company Name: Pragati Insurance Limited.

Vacancy: --

Age: Na

Job Location: Dhaka

Salary: --

Experience:

• 10 to 15 years
• The applicants should have experience in the following business area(s): Insurance

• Bachelor/Honors

• Bachelor’s degree in Business, Finance, Risk Management, Actuarial Science, or related field.

• 10 to 15 years
• The applicants should have experience in the following business area(s): Insurance

• Minimum 10–15 years’ experience in reinsurance or underwriting in a non-life insurance company, with at least 5 years in a senior leadership role.

• Strong understanding of treaty and facultative placements, risk modeling, and market practices.

• Experience working with local and international reinsurers and brokers.

• Preferred

• Professional certifications (e.g., CII, ARe, ANZIIF, ABIA).

• Experience with IDRA regulatory frameworks.

• Advanced analytical, negotiation, and communication skills.

Key Competencies

• Strategic thinking & decision-making

• Strong negotiation & relationship-building

• Leadership and team management

• Analytical and financial acumen

• Risk evaluation & portfolio assessment

• Problem-solving and conflict resolution

• High integrity and professionalism

Position Overview

The Head of Re-Insurance is responsible for developing and managing the company’s non-life reinsurance strategy to optimize risk exposure, ensure regulatory compliance, and enhance underwriting profitability. This role oversees all treaty, XOL & facultative reinsurance arrangements, builds strong partnerships with local and international reinsurers, and ensures efficient reinsurance operations aligned with business goals and IDRA regulations.

Department: Re-Insurance (Non-Life)

Reporting To: CEO

Key Responsibilities

Reinsurance Strategy & Planning

• Develop and implement the company’s overall reinsurance strategy (treaty & facultative) for all non-life portfolios.
• Analyze risk exposures and recommend optimal retention levels and reinsurance structures.
• Conduct annual reinsurance program reviews and propose improvements based on market conditions, historical loss trends, and underwriting objectives.

Treaty Reinsurance Management

• Lead the design, negotiation, and renewal of all non-life treaty reinsurance arrangements.
• Prepare underwriting data, loss statistics, and exposure analyses for reinsurers and brokers.
• Coordinate with actuarial and underwriting teams to ensure adequacy of treaty protections.

Facultative Reinsurance

• Evaluate high-value or specialized risks requiring facultative support.
• Negotiate facultative placements with local or international reinsurers.
• Ensure timely submission of risk details, endorsements, and policy documents.

Business Network

• Close contact & exchanges with national & international Re-Insurance broker
• Wide international Re-Insurance broker network
• Business network with local business houses as well as with investors

Regulatory Compliance

• Ensure all reinsurance programs comply with IDRA regulations, reporting requirements, and Bangladesh reinsurance placement rules.
• Liaise with regulators, auditors, and external stakeholders on reinsurance matters.
• Prepare and submit reinsurance returns, statements, and reconciliation reports.

Claims & Recovery Management

• Monitor reinsurance recoveries and ensure timely collection from treaty and facultative reinsurers.
• Collaborate with the claims department to prepare documentation for large claims.
• Handle U/W dept. dispute resolution with reinsurers, brokers, or any other parties in respect of recovery.

Relationship Management

• Maintain strong working relationships with reinsurers, brokers, and international partners.
• Represent the company at local and global reinsurance conferences, workshops, and renewal meetings.
• Evaluate new reinsurance markets and opportunities for risk diversification.

Data Analytics & Reporting

• Oversee the accuracy of reinsurance data, statements, accounts, and bordereaux.
• Review quarterly and annual reinsurance performance reports and recommend improvements.
• Ensure proper documentation, record-keeping, and audit trails.

Team Leadership & Development

• Lead, mentor, and develop the reinsurance team.
• Foster collaboration with underwriting, actuarial, claims, marketing lead and finance departments.
• Ensure team adherence to internal controls, SLAs, and reinsurance best practices.
• Ability to obtain competitive rates & terms from respected reinsurers of the local & international market.

Salary & Benefits

• Competitive salary aligned with industry standards

• Performance-based incentives

• Festival bonuses as per company policy

• Provident fund, gratuity, medical benefits, and other perks