Reinsurance Specialist

About Al Etihad Cooperative Insurance Company

Al Etihad Cooperative Insurance Company is a public joint-stock company operating in the Kingdom of Saudi Arabia, with a paid-up capital of 500 million Saudi Riyals. Established in 2008, it is an extension of United Insurance Company, founded in Bahrain in 1983. The company is listed on the Saudi Stock Exchange (Tadawul) under the symbol 8170 and is supervised and regulated by the Saudi Insurance Authority. Al Etihad Cooperative Insurance Company is licensed to operate in all types of insurance, including general, medical, motor, and protection & savings insurance, serving clients through a network of offices and regional outlets.

The Role: Reinsurance Protection & Saving Specialist

Al Etihad Cooperative Insurance Company is seeking a Reinsurance Protection & Saving Specialist to join its team in Al Khobar, Eastern Region. This full-time position requires 2-5 years of experience in a relevant field. The specialist will be responsible for managing reinsurance activities related to Protection & Savings products, ensuring compliance with agreements and regulatory requirements, and supporting financial reconciliation processes.

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

• 2-5 years of experience in a relevant field.

Work Type and Location

This is a full-time position based in Al Khobar, Eastern Region, Saudi Arabia.