Reinsurance Protection & Saving Specialist

About Al Etihad Cooperative Insurance Company

Al Etihad Cooperative Insurance Company is a publicly owned joint-stock company based in Saudi Arabia. Established under royal decree and a decision by the Council of Ministers, the company has a paid-up capital of 500 million Saudi Riyals. It evolved from United Insurance Company, originally founded in Bahrain in 1983 to operate insurance services within Saudi Arabia. Listed on the Saudi Stock Exchange under symbol 8170 since 2008, it operates under the supervision of the Saudi Insurance Authority offering a full range of insurance products including general, medical, motor, and protection & saving insurance. The company boasts a broad network of branches and a dedicated workforce committed to excellent client service across the Kingdom.

Role Overview and Responsibilities

• Manage the issuance of reinsurance treaties and facultative notifications specific to Protection & Savings products, liaising effectively with reinsurers and internal teams.
• Execute monthly closing tasks in coordination with Branches, Finance, and IT to ensure that all reports are delivered on time and with precision.
• Generate, assess, and verify monthly and quarterly system-generated reports to maintain data integrity.
• Oversee policy issuance and claims activities to guarantee precise allocation to reinsurers according to existing treaty and facultative reinsurance contracts.
• Alert reinsurers about Protection & Savings claims as received from the Claims Department and prepare necessary reinsurance recovery documents promptly.
• Collaborate with Finance to monitor reinsurance premium payments ensuring that they align with agreed contracts.
• Maintain thorough and accurate reinsurance documentation to aid in the reconciliation of operational and financial data.
• Adhere to all company policies, reinsurance agreements, and relevant regulatory standards to ensure full compliance.

Qualifications

• Minimum two years of professional experience in reinsurance, underwriting, or related insurance fields.
• Possession of a Bachelor's degree or Diploma in Insurance, Business Administration, Finance, Marketing, or a similarly relevant discipline.
• Capability to communicate effectively, deliver presentations confidently, and establish solid working relationships.
• Competence with Microsoft Office suites and familiarity with business reporting software.
• Fluent verbal and written communication skills in both Arabic and English.