Reinsurance Protection & Saving Specialist📣 Job Ad

About Al Etihad Cooperative Insurance Co

Al Etihad Cooperative Insurance Company is a public joint-stock company established in the Kingdom of Saudi Arabia. Operating under the supervision and regulation of the Saudi Insurance Authority, the company is licensed to conduct operations across all types of insurance, including general, medical, motor, and protection & savings. With a paid-up capital of 500 million Saudi Riyals, Al Etihad is an extension of United Insurance Company, which was founded in Bahrain in 1983. The company was listed on the Saudi Stock Exchange (Tadawul) under the symbol 8170 in 2008 and is recognized as a pioneer in the Kingdom's insurance industry, supported by a wide network of offices and a dedicated team.

The Role of Reinsurance Protection & Saving Specialist

Al Etihad Cooperative Insurance Company is seeking a Reinsurance Protection & Saving Specialist to join its team. This full-time position, based in Al Khobar, Eastern Region, involves managing critical reinsurance activities related to Protection & Savings products. The specialist will ensure compliance and accurate reporting within the company's operations, playing a key role in coordinating with various internal departments and external reinsurers.

Key Responsibilities

• Issue reinsurance treaty and facultative notifications for Protection & Savings products, and communicate with reinsurers and internal stakeholders.
• Perform monthly closing activities and coordinate with Branches, Finance, and IT departments to ensure timely and accurate reporting.
• Generate, review, and validate monthly and quarterly reports from the system.
• Monitor policy issuances and claims activities, ensuring accurate allocation and distribution to reinsurers in accordance with treaty and facultative reinsurance agreements.
• Notify reinsurers of Protection & Savings claims received from the Claims Department and prepare the required reinsurance recovery notifications.
• Coordinate with the Finance Department regarding reinsurance premium payment schedules and ensure compliance with contractual terms and conditions.
• Maintain accurate reinsurance records and support reconciliation processes between operational and financial data.
• Ensure compliance with company policies, reinsurance agreements, and regulatory requirements.

Required Experience

Candidates for this role should possess 2 to 5 years of relevant experience in reinsurance or a related field within the insurance industry. This experience should ideally include exposure to protection and savings products and a strong understanding of reinsurance operations.

Work Environment and Location

This is a full-time position based in Al Khobar, Eastern Region. The specialist will work within a dedicated team, collaborating across various departments to ensure efficient reinsurance operations.

Application Process

Interested candidates are invited to apply for this position.