Reinsurance Placement Specialist

American Agricultural • Schaumburg, IL

56d • $150,000 - $190,000 • Hybrid

About The Position

AmericanAg®, a global provider of diversified reinsurance services, is looking for a Reinsurance Placement Specialist to join our Reinsurance Strategy and Placement & Broker Assumed Operations 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 Director of Reinsurance Strategy and Placement, the Reinsurance Placement Specialist will play an important role in supporting the department in reinsurance and retrocessional information gathering, structure optimization, and transaction execution.  This position combines unique features of being a reinsurance buyer, reinsurance broker and portfolio manager.

Requirements

• Bachelor’s degree or equivalent experience
• Six or more years of insurance experience, with three years of reinsurance experience
• Thorough understanding of reinsurance contract language and reinsurance pricing concepts
• Extensive knowledge of the reinsurance market as it relates 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 process of buying reinsurance, 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
• Experience with reinsurance finance and claims administration
• Fluency with catastrophe modeling output
• Proficiency with Microsoft Office products, especially with Excel

Nice To Haves

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

Responsibilities

• Building and maintaining strong relationships with brokers and reinsurers, with significant participation in meetings addressing marketing of programs
• Working with internal stakeholders as the liaison between reinsurance brokers and/or direct writer reinsurers concerning individual treaty reinsurance transactions
• Assisting in placement of reinsurance protections for AmericanAg® in accordance with the company’s enterprise risk management guidelines
• Contributing to the review of underwriting submissions, program structures, policy language, and market quoting for reinsurance programs
• Working with clients, brokers, and reinsurers relating to all aspects of assumed and ceded reinsurance programs at AmericanAg®
• Tracking and analyzing pricing feedback from internal and external sources
• Maintaining current, in-depth knowledge of the reinsurance marketplace – including industry activity and trends, state issues and regulations, and market developments – to provide timely and relevant information to internal and external stakeholders
• Coordinating with internal departments regarding treaty administration, compliance issues, and execution of conditions of contracts
• Organizing and coordinating internal responses to requests for transactional audits for corporate or state-specific reinsurance placements

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level