| Reinsurance Assistant Manager – Orient Insurance | |
| Al Futtaim Group Dubai, UAE Ref: HP698-1714 |
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The RoleThe RoleOrient commenced operations in 1982 as a part of the reputed Al-Futtaim Group and has since recorded a progressively steady growth. The year 2007 has seen a substantial growth of premium income and net profit. Having recorded a premium income of Dhs.767 million and a net profit of Dhs.136 million (out of which over 65% is generated from underwriting), the Company is counted among the leaders in the UAE insurance market. Orient has a paid-up capital of Dhs. 300,000,000 - which is significantly higher than most of the players in the market. With head office in Dubai, the company serves its clientele through an extensive branch network in Bur Dubai, Jebel Ali, Sharjah, Abu Dhabi, Mussafah, Al Ain, Dubai Health Care City Ras Al Khaimah, Sheikh Zayed Road and Oman. Orient carries an A Ratings; Excellent from A.M. Best and A- from Standard and Poor's is the only company in the Middle East which carries such combined high ratings. Orient is also accredited with ISO 9001 Quality Management Certification. The duties and responsibilities for this role are as follows: • Work with the underwriting departments to ensure good understanding of the written portfolios. • Perform the internal and external daily correspondence, answering the queries under the supervision of AGM. • Monitor the development of portfolios during the year and inward acceptances through obtaining different reports from IT system. • Collect all renewal information and make sure of its correctness and do relevant analysis for proposing enhancements in the treaties. • Prepare the required renewal information including As if statistics, risk profiles, statistical results, top risks, underwriting philosophy and major losses, etc. • Answer to queries raised by brokers and underwriters as appropriate and follow up the pending issues. • Review the placing slips, cover notes and wordings and raise his points to the next level of management. • Prepare the relevant internal and external correspondence. • Prepare the relevant bordereaux as required. • Handle and follow up all claims exposing the XOL protection and provide all information up the claim is closed. • Prepare the required reports for different institutions. • Prepare the requested information by Rating Agencies. • Monitor and update rating records of all reinsurers. • Perform the daily administrative activities. • Follow up on daily basis the developments in the international insurance markets through internet access. |
RequirementsRequirementsThe ideal candidate for this role should have at least 5 years of work experience in underwriting and reinsurance. He/she should possess a good understanding of principals and applications of reinsurance and can actively participate in designing the treaty arrangement. |
About the CompanyAbout the CompanyEstablished in the 1930's, the Al-Futtaim Group initially operated as a trading enterprise. Rapid development throughout the 1940's and 50's saw it establish itself regionally as an integrated commercial, industrial and services organisation, positioning itself one of the leading business houses in the lower Gulf region. Today, it operates collectively over 40 companies bearing the Al-Futtaim name, dominates many market segments in the UAE, and has expanded its sphere of operation to include Bahrain, Kuwait, Qatar, Oman and Egypt. The Group comprises a diverse range of strategically positioned operating subsidiaries and associate companies, structured to give the Al-Futtaim Group the flexibility and versatility to keep ahead of local competition while keeping pace with the ever-evolving global business scenario. The Group’s continued investment in world-class systems technology is clear evidence of its commitment to maintain leading edge performance and service delivery. The success of the Al-Futtaim Group can be attributed to a business approach that combines the ability to change with the traditional values of integrity, service and social responsibility that define its core business philosophy. This, linked with the Group’s belief in decentralisation, gives the heads of the operating companies a high degree of functional autonomy and authority, providing the Group with essential flexibility, and individual employees a clearly defined work culture and sense of responsibility. |
This Position is closed or expired
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