Regional Reinsurance Executive – Claims Operation

Regional Reinsurance Executive – Claims Operation Regional Reinsurance Executive – Claims Operation 1 month ago Be among the first 25 applicants GIG Gulf (a Fairfax company) is part of the Gulf Insurance Group (GIG), the #1 largest regional composite insurer in the Middle East and North Africa, with presence in 12 markets including the United Arab Emirates, Bahrain, Oman, Qatar, Saudi Arabia, Algeria, Egypt, Iraq, Jordan, Kuwait, Lebanon, and Turkey. GIG Group reported consolidated assets of US$ 4.01 billion and $84 million net profit for the year 2024. The majority shareholder of GIG Group is Toronto based Fairfax Financial Holding, a global leader in insurance and reinsurance with a presence in 40 markets. GIG Gulf is an ‘A’ rated regional insurer with a top 5 position in each of its markets (UAE, Oman, Qatar, Bahrain). GIG Gulf has been present in the region for over 70 years with a strategic focus on both growth and investments and is a one stop shop offering a wide range of insurance products and services that cater to a broad variety of needs for corporates, SMEs and individual customers throughout UAE, Oman, Bahrain, and Qatar. GIG Gulf also owns a 50% stake in GIG Saudi. Our strategic objectives and guiding principles are focused on Regional Growth, Customer Experience and Digital Transformation. GIG Gulf has created a diverse and inclusive working environment and culture with a workforce of over 800 employees, with over 60 nationalities, across 15 branches and retail shops region-wide and over 1 million customers. GIG Gulf is a caring partner that encourages customers to achieve their goals and live an inspiring and fulfilling life. We are obsessed with customer feedback and continuously evolving to become the region’s digital insurer of reference, committed to running our operations in a responsible, sustainable way. Job purpose: We are seeking a detail-oriented professional with a minimum of 3 years of experience in Claims or Reinsurance. The role involves managing claim notifications, cash call & reinstatement calculations, follow-ups, recoveries, and financial reporting with internal/external stakeholders. Experience in handling Excess Loss (XOL) claims is desirable but not mandatory. Training will be provided to a suitable candidate. Key Responsibilities: Notify reinsurers of new claims and provide timely updates. Prepare and send loss advice to reinsurers at various stages. Maintain comprehensive records of claims, including reporting, developments, and cash call submissions. Claims Monitoring & Recovery: Liaise with the Claims Department for updates and developments. Prepare cash call requests, including reinstatement calculations, closing advice, and recovery trackers. Follow up with reinsurers to ensure timely recoveries. Coordinate with the Finance Department to confirm receipt of recoveries. Data Management & Analysis: Prepare monthly claims movement reports for Finance and Actuarial teams. Update and maintain loss triangulations for treaty renewals. Conduct "as-if" analysis for treaty renewals. Stakeholder Collaboration: Work closely with Claims, Finance, and Actuarial teams to exchange and obtain necessary data. Prepare and present annual claim statements to reinsurers. Provide management with reports and presentations on recovery status. Minimum 3 years in within Claims handling with an insurer/ reinsurer. Or experience in any area within Reinsurance. Proficiency in MS Excel (including data analysis, pivot tables, and formulas). Strong understanding/ experience with treaty structures and claims handling procedures. Ability to interpret and analyze claims data for reporting and decision-making. Very Good written and verbal communication ability to coordinate with internal and external stakeholders. Seniority level Seniority level Associate Employment type Employment type Full-time Job function Job function Other Industries Insurance Referrals increase your chances of interviewing at GIG Gulf by 2x Get notified about new Operations Executive jobs in Capital Governorate, Bahrain . Manama, Capital Governorate, Bahrain 1 month ago Manama, Capital Governorate, Bahrain 2 weeks ago Manama, Capital Governorate, Bahrain 1 month ago Manama, Capital Governorate, Bahrain 4 days ago Operations & Freight Forwarding Executive (Customs) - Bahrain Manama, Capital Governorate, Bahrain 2 weeks ago Manama, Capital Governorate, Bahrain 2 weeks ago We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI. #J-18808-Ljbffr