Job Description

Reinsurance FAC

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Company: Unilight Insurance Brokers Pvt. Ltd.

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Location: Mumbai

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Experience: Minimum 5 Years

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Travel: Open to extensive travel

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About the Role

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The Reinsurance FAC professional will be responsible for managing Facultative Reinsurance placements, including business development, risk analysis, market placement, insurer/reinsurer coordination, negotiations, documentation, and portfolio servicing. The role requires solid technical knowledge of facultative reinsurance, excellent market relationships, and the ability to manage placements from enquiry to closure.

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Key Responsibilities

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Facultative Reinsurance Placement

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- Handle end-to-end Facultative Reinsurance placements across relevant lines of business.
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- Analyse client/cedant requirements, risk information, policy terms, and exposure details.
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- Prepare and circulate facultative submissions to appropriate reinsurers and international markets.
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- Obtain competitive terms, quotations, capacity, and coverage from reinsurers.
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- Negotiate pricing, terms, conditions, deductibles, limits, and other placement requirements.
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Reinsurance Market & Relationship Management

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- Develop and maintain strong relationships with domestic and international reinsurers, brokers, and underwriting markets.
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- Identify appropriate markets based on risk profile, capacity requirements, appetite, and pricing.
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- Engage with reinsurers to secure optimal terms and placement solutions.
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- Stay updated on market capacity, underwriting appetite, pricing trends, and emerging risks.
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Client & Internal Coordination

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- Understand client requirements and provide technically sound reinsurance solutions.
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- Coordinate closely with business development, underwriting, and placement teams.
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- Support client meetings and presentations whenever required.
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- Ensure timely communication of quotations, terms, conditions, and placement status.
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Documentation & Policy Servicing

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- Ensure accuracy and completeness of facultative submissions and placement documentation.
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- Coordinate confirmations, debit/credit notes, reinsurance slips, endorsements, and other relevant documentation.
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- Track placement timelines and ensure closure within agreed TATs.
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- Maintain accurate records of placements, renewals, and market responses.
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Claims & Portfolio Support

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- Coordinate with reinsurers and relevant stakeholders on facultative claims matters.
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- Support claims-related negotiations and documentation wherever required.
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- Monitor existing facultative placements and support renewals and portfolio retention.
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Market Development & Compliance

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- Identify new facultative opportunities and support business development initiatives.
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- Participate in client meetings, market visits, industry events, and reinsurer meetings.
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- Ensure adherence to IRDAI regulations, company policies, and internal processes.
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- Maintain confidentiality and high standards of professional and ethical conduct.
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Key Competencies & Skills

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Technical & Reinsurance Skills

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- Strong understanding of Facultative Reinsurance processes and placements.
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- Knowledge of underwriting principles, risk assessment, policy structures, and reinsurance terminology.
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- Ability to assess risk information and identify appropriate reinsurance markets.
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- Strong negotiation and placement skills.
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Market & Business Skills

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- Valuable relationships with reinsurers and reinsurance markets.
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- Strong commercial acumen and ability to understand client requirements.
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- Ability to manage multiple placements simultaneously and work within tight deadlines.
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- Strong analytical and problem-solving capabilities.
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Communication & Personal Skills

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- Excellent written and verbal communication skills.
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- Strong presentation, negotiation, and interpersonal skills.
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- High level of ownership, integrity, and attention to detail.
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- Ability to work under pressure and deliver within TAT.
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- Willingness to travel extensively for client and market meetings.
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Technical Tools

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- Proficiency in MS Office – Excel, Word, PowerPoint, and Outlook.
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- Ability to prepare reinsurance submissions, placement summaries, and market presentations.
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Qualifications & Experience

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- Education: Bachelor's degree in Commerce, Business Administration, Insurance, or a related discipline. A professional qualification in Insurance/Reinsurance will be an added advantage.
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- Experience: Minimum 5 years of relevant experience in Facultative Reinsurance.
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- Candidates from Insurance Broking, Reinsurance Broking, or General Insurance backgrounds with strong FAC exposure will be preferred.
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- Strong experience in handling end-to-end facultative placements and market negotiations.
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- Willingness to travel extensively for client, reinsurer, and market engagements.
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📌 Reinsurance FAC (Mumbai)
🏢 Unilight Insurance Brokers Private
📍 Mumbai