Property & Casualty Retrocessional Specialist

American Agricultural•Schaumburg, IL

6d•$150,000 - $190,000•Hybrid

About The Position

AmericanAg®, a global provider of diversified reinsurance services, is looking for a Property & Casualty Retrocessional Specialist to join our Client Retro team based out of our office in Schaumburg, Illinois. This is a hybrid position working in the office a minimum of three days a week. Reporting to the SVP – Client Retro, the Property & Casualty Retrocessional Specialist will play an important role in supporting the department in retrocessional treaty underwriting and relationship management by managing a portfolio of assumed retrocession programs. This position combines unique skillsets, including retrocessional treaty underwriting, placement, administration, servicing, and relationship management between retrocessional business partners.

Requirements

Bachelor’s degree or equivalent experience
5+ years of reinsurance experience, with a focus on Property treaty reinsurance broking, underwriting, or purchasing
Thorough understanding of reinsurance contract language and reinsurance pricing concepts
Extensive knowledge of the reinsurance market relating to reinsurance companies, product and service offerings, market pricing, coverage, and capacity trends, and the personnel in the direct and broker market channels
Understanding of the reinsurance renewal lifecycle, including submission development, finalization of reinsurance terms and conditions, gathering authorizations, signing of lines, and contract management
Excellent interpersonal, written, and verbal communication skills, along with the ability to build and develop relationships
Fluency with catastrophe modeling output and catastrophe exposure management concepts
Proficiency with Microsoft 365 products, especially with Outlook, Excel, Teams, and SharePoint

Nice To Haves

Continuing education in insurance certification programs (CPCU, ARe) preferred

Responsibilities

Developing, maintaining, and deepening reinsurer client and broker relationships
Coordinating and participating in client and broker marketing and renewal meetings
Working with internal stakeholders and retrocessional business partners as the liaison between retrocessional brokers and reinsurers concerning individual treaty reinsurance transactions
Assisting the SVP – Client Retro with the placement of transaction-specific retrocessional protections for AmericanAg® in accordance with the company’s enterprise risk management guidelines
Contributing to the review and analysis of underwriting submissions, program structures, policy language, and firm order terms for retrocessional programs
Tracking, analyzing, and sharing pricing feedback from internal and external sources with retrocessional business partners
Communicating retro placements and post-renewal updates to key stakeholders
Maintaining in-depth knowledge of the reinsurance and retrocessional marketplace – including industry activity, trends, technical developments, new products, macro issues, regulations, and market developments to provide timely and relevant information to key stakeholders
Coordinating with internal departments regarding treaty administration, compliance issues, and execution of conditions of contracts
Assisting the SVP – Client Retro with the management and coordination of the Broker Assumed Quota Share arrangements between AmericanAg® and various Farm Bureau® insurance companies