Department: Reinsurance Broking

Location: Mumbai (on-site)

Reporting: Chief Reinsurance Officer

Qualification: Graduate / MBA/ CA - B.E. / B. Tech + AIII / FIII preferred.

Role Summary:

To develop and manage Facultative Reinsurance for Property, Engineering, Marine, Liability, Surety and other large risks on behalf of Insurance Company clients.

Key Responsibilities:

1. Facultative Business Development and Placement: Handle end-to-end placement of Facultative risks - Fire/Property, Engineering, Marine Cargo/Hull, Liability, Financial Lines, Surety etc. Collection of risk information, SOV, loss history, risk inspection reports from Cedant. Preparation of Placement Slip / Risk presentation and approaching Reinsurers.

2. Underwriting & Technical: Analysis of risk, PML, sum insured, and preparation of terms and conditions. Negotiation with Reinsurers (GIC Re, FRBs, CBRs, IIOs, other International Reinsurers) for best terms and pricing. Drafting of Cover Notes, Endorsements and LPOs.

3. Client Servicing: Coordination with Direct Broking team and Insurance Companies for facultative support. Provide facultative market feedback to cedants for large risk quotations.



Support in claims intimation and coordination with Reinsurers for facultative claims.

4. Compliance & Documentation: Ensure compliance with IRDAI regulations regarding Order of Preference and placement process. Maintain MIS, placement tracker, and timely issuance of documents. Adherence to internal TAT and quality standards.

5. Systems & Process: Work on Broking ERP / Tally / Reinsurance management systems. Drive process improvement and automation.

Competencies Required: 5-10 years experience in Facultative Reinsurance in Broking / Insurance / Reinsurance Company. Solid knowledge of large risk underwriting - Property, Engineering, Marine, Surety. Good relationship with Reinsurance market. Proficiency in MS Excel, Power Point,

Experience: Must have handled facultative placements in a Broking Firm / Reinsurance Company / Insurance Company Reinsurance Dept. Lines Handled: Property, Engineering, Marine, Motor, Liability, Miscellaneous, Agriculture etc.

Soft Skills: Excellent negotiation, analytical, communication, documentation and client relationship skills.

📌 Reinsurance Facultative (Mumbai)
🏢 Choice International
📍 Mumbai