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  • Head of Insurance/ Reinsurance Underwriting

    • Core Competencies

      The Head of Insurance /Reinsurance underwriting should have:

      (a) Deep knowledge of market trends and developments in both the primary insurance and reinsurance markets. Familiarity with pricing cycles, capacity shifts, and industry disruptors (e.g., Insurtech, regulatory changes);
      (b) A strong understanding of insurance and reinsurance markets, classes of business and products;
      (c) In-depth knowledge of insurance and reinsurance products, including the ability to collaborate with product development teams to create innovative solutions tailored to client needs;
      (d) A good understanding of regulatory environment;
      (e) Comprehensive understanding of underwriting principles for various lines of business, such as life insurance, property and casualty (P&C) insurance, reinsurance, health insurance, and specialty insurance;
      (f) Proficiency in developing and managing underwriting strategies that balance risk and profitability;
      (g) Ability to oversee underwriting for complex risks, ensuring decisions align with the organisation’s risk appetite and long-term goals;
      (h) Expertise in reviewing and enhancing existing products to ensure they are competitive and compliant with current regulations and market trends;
      (i) Expertise in structuring and negotiating reinsurance treaties, including proportional, non-proportional, facultative, and treaty reinsurance;
      (j) Familiarity with global reinsurance markets and the ability to assess the creditworthiness and risk profiles of reinsurance partners; and
      (k) Knowledge of retrocession arrangements and understanding of how to transfer risk across multiple layers.
      Added: March 2025

    • Experience and Qualifications

      (a) A minimum of 5 to 7 years of practical experience in an underwriting or comparable function (underwriting/claims) within the insurance industry; and

      (b) An academic degree from a university at bachelor level or higher in addition to professional qualification(s) related to underwriting and claims and other relevant certification(s) specific to this role. Such certifications may include but are not limited to:

      (i) Advanced Diploma in Insurance (ACII) - The Chartered Insurance Institute (CII);
      (ii) Insurance Management Diploma, Bahrain Institute for Banking and Finance (BIBF);
      (iii) BIBF Professional Award for Certified Insurance Practitioner (BPACIP);
      (iv) BIBF Professional Award for Specialist Insurance Practitioner (BPASIP).
      Added: March 2025