Head of Reinsurance (Non-Life)

Job Description

Title: Head of Reinsurance (Non-Life)

Company Name: Islami Insurance Bangladesh Limited

Vacancy: 01

Age: At least 35 years

Job Location: Dhaka

Salary: Negotiable

Experience:

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

• Master of Commerce (MCom)

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

• Age At least 35 years

1. Reinsurance Strategy & Planning

• Develop and execute the company’s overall reinsurance strategy aligned with business objectives

• Determine appropriate retention levels and reinsurance structures (e.g., treaty, facultative)

• Monitor market trends and adjust strategy accordingly

2. Treaty & Facultative Management

• Design, negotiate, and place reinsurance treaties (proportional and non-proportional)

• Oversee facultative reinsurance placements for large or complex risks

• Ensure timely renewal of all reinsurance programs

3. Risk Management & Capacity Optimization

• Analyze underwriting portfolios to assess exposure and accumulation risks

• Optimize reinsurance coverage to protect against catastrophic losses

• Support underwriting teams with reinsurance solutions

4. Relationship Management

• Maintain strong relationships with Shadharon Bima and international reinsurers and brokers

• Lead negotiations on pricing, terms, and conditions

• Represent the company in reinsurance meetings, conferences, and renewals

5. Financial Oversight

• Monitor reinsurance costs, recoveries, and profitability

• Ensure accurate accounting of reinsurance transactions (premiums, claims recoveries)

• Contribute to budgeting and forecasting related to reinsurance

6. Claims Coordination

• Oversee major claims recoveries from reinsurers

• Ensure timely and accurate documentation for claims submissions

• Resolve disputes with reinsurers if any

7. Compliance & Reporting

• Ensure compliance with regulatory (IDRA-Bangladesh) requirements and internal policies

• Prepare reports for senior management/Directors and regulators

• Maintain proper documentation of reinsurance contracts

8. Team Leadership

• Lead and mentor the reinsurance team

• Build technical expertise within the department

• Coordinate with underwriting, finance, and claims teams