Facultative Broker – Reinsurance

Develop business relationships, secure client instructions, negotiate best possible prices, and capacity for reinsurance clients to protect their portfolios, whilst ensuring the best outcome for Minet and its clients. The broker contributes to and coordinates marketing and negotiation of business within reinsurance global markets.

Duties and Responsiblities

• Generate facultative leads and convert.
• Demonstrate relationships with international reinsurance markets.
• Ensure quotation and pipeline conversion.
• Responsible for negotiating the best prices and capacity using knowledge, expertise and market presence for desired cover where appropriate.
• Create, maintain and manage long-term business relationships with underwriters to enhance service delivery, establish new opportunities for risk placement or facilitate the settlement and payment of claims.
• Analyse market to determine organic growth, new products and potential clients/markets.
• Support the effective delivery of global service through network relationships, where appropriate.
• Provide advice to clients and colleagues on market developments and share knowledge of market trends to enhance the overall value proposition.
• Negotiate bespoke wordings with reinsurers for individual accounts.
• Negotiate or assist in negotiation of terms and conditions for a facility with underwriters, including the negotiation of facility wordings.

Key Result Areas

• Identify, target and build new relationships with existing and potential clients for revenue growth.
• Develop a credible pipeline of prospective clients and growth strategies that enables achieving personal monthly and annual targets.
• Clearly articulate value propositions for cedant and retrocedent existing and prospective clients.
• Develop business growth strategies to help drive revenue growth focused on Facultative business.
• Understand cedant needs and be able to tailor solutions to address them.
• Develop a calendar for marketing campaigns and cedant interactions.
• Maintain existing relationships in order to protect existing books of business.
• Provide weekly and monthly production reports.

Key Competencies

• Expert reinsurance knowledge, with bias on facultative reinsurance.
• Sound financial acumen.
• Excellent sales and marketing skills.
• Excellent verbal and written communication skills.

Knowledge And Skills Required

• Education: University degree in insurance, business or related field.
• Professional: Minimum Diploma CII / Diploma IIK.

Professional and Academic Qualifications

• 3 years’ experience and proven track record in a busy reinsurance environment within the industry.
• Strong relationships with insurers in the industry.