Facultative Reinsurance Broker

WTW•Miami, FL

11d•Onsite

About The Position

Willis Towers Watson CAC, Inc. seeks 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 also 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 and collaboration within a team focused on sourcing and placing facultative reinsurance in the Caribbean. The broker will engage international reinsurance markets in Miami, Latin America, and Europe, as well as WTW colleagues in London, Madrid, and other hubs, to negotiate and place these placements. This includes calculating and negotiating final signings and premiums per reinsurer, ensuring timely and accurate issuance of company, market, and client-related documentation, and managing administrative and operational tasks such as premium collection. The role also involves managing a portfolio of placements, forecasting revenue, working with actuaries and cat modelers to analyze risks and advise clients on mitigation strategies, and ensuring compliance with regulatory policies. Coordination of internal resources like analytics, contracts, and client services is essential, as is preparing and presenting risk analyses, placement strategies, and market updates to senior executives. Research on industry developments, catastrophe risk trends, and reinsurance market dynamics affecting Caribbean property risks is also a key part of the role, along with participating in the development of the global production strategy for the Property Segment. 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.
Engage international reinsurance markets in Miami, Latin America, Europe, and WTW colleagues in London, Madrid, and other hubs to negotiate and place facultative property reinsurance placements.
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 in order to advise clients on facultative reinsurance structures to mitigate downside risk and improve capital efficiency.
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.