Facultative Reinsurance Broker

WTW•Miami, FL

1d•Onsite

About The Position

Willis Towers Watson CAC, Inc. is seeking a Facultative Reinsurance Broker for the Caribbean region in Miami, FL. This role involves developing and maintaining commercial relationships with global reinsurers to secure competitive capacity and terms for Caribbean property risks. The broker will maintain relationships with insurance companies across Spanish-speaking, English-speaking, and Dutch Caribbean jurisdictions. Key responsibilities include creating, reviewing, and structuring facultative property reinsurance placements, including wording, coverage conditions, monetary limits, and overall program placement strategy. The position requires advanced knowledge of proportional and non-proportional facultative reinsurance structures. The broker will work as part of a team focused on sourcing and placing facultative reinsurance in the Caribbean, engaging international reinsurance markets and WTW colleagues globally. This includes calculating and negotiating final signings and premiums, ensuring accurate and timely documentation, and managing premium collection. The role also involves managing a portfolio of placements, advising on forecast revenue, and working with actuaries and cat modelers to analyze risks and advise clients on reinsurance structures for risk mitigation and capital efficiency. Compliance with regulatory policies and coordination of internal resources are essential. The broker will prepare and present risk analyses, placement strategies, and market updates to senior executives and conduct research on industry developments and market dynamics. Participation in the development of the global production strategy for the Property Segment is also expected. Approximately 15% domestic and international travel is required.

Requirements

Bachelor’s degree or equivalent in any field.
3 years of experience in the reinsurance industry with a focus on property broking.
3 years of experience working with insurance clients located in the Spanish-speaking Caribbean, English-speaking Caribbean, and Dutch Caribbean.
3 years of experience developing and maintaining commercial relationships with international reinsurance markets.
3 years of experience applying analytical and problem-solving skills to evaluate complex property risk exposures.
1 year of experience communicating and presenting technical reinsurance concepts to senior executives.
1 year of experience structuring and placing facultative property reinsurance programs for complex property risks.
1 year of experience coordinating multidisciplinary teams including broking, analytics, catastrophe modeling, and client service professionals.
Professional designations such as ARe [Associate in Reinsurance] or CPCU [Chartered Property Casualty Underwriter] required.

Nice To Haves

Advanced knowledge of proportional and non-proportional facultative reinsurance structures.

Responsibilities

Develop and maintain commercial relationships with global reinsurers to secure competitive capacity and terms for Caribbean property risks.
Maintain relationships with insurance companies across Spanish-speaking, English-speaking, and Dutch Caribbean jurisdictions.
Create, review, and structure facultative property reinsurance placements, including wording, coverage conditions, monetary limits, and overall program placement strategy.
Calculate and negotiate final signings and premiums per Reinsurer.
Ensure company, market, and client-related documentation is issued accurately and on time.
Comply with all administrative and operational tasks including premium collection.
Manage a portfolio of placements throughout the year, advising management and finances of expected forecast revenue.
Work with actuaries and cat modelers to analyze insurance risks and advise clients on facultative reinsurance structures.
Comply with external and internal regulatory and statutory policies, procedures, and regulations.
Coordinate internal resources, such as analytics, contracts, and client services, to provide solutions to client(s).
Prepare and present risk analyses, placement strategies, and market updates to senior executives of insurance companies.
Conduct research on industry developments, catastrophe risk trends, and reinsurance market dynamics affecting Caribbean property risks.
Participate in the development of our global production strategy for the Property Segment.