OFFSHORE ACCOUNTING JOBS - REINSURANCE JOBS
Offshore Accounting Jobs - Reinsurance Jobs
Reinsurance companies provide insurance to insurance companies. This
allows insurance companies to decide how much risk they wish to retain
either by proportion or maximum thresholds and, thereby, guard
themselves against excessive or even catastrophic losses. Reinsurers
can be thought of as the wholesalers of the insurance industry; offering
coverage for bundled risks with lower administration and marketing
costs and higher value capital bases.
Although the Cayman Islands have made some headway into this
market, the vast majority of reinsurance companies and roles are Bermuda
Reinsurance roles typically pay more than insurance or captive
insurance roles and the typical candidate will be a fully qualified
accountant with some insurance or preferably reinsurance experience.
Management experience is not essential but is an asset, particularly
within "Big Four" financial services audit.
The role of a reinsurance accountant includes:
- Preparing month-end insurance adjustments as part of monthly and quarterly closing procedures
- Accounting for proportional contracts, reinstatement premiums, outward reinsurance and profit commission
- Assisting with the preparation of monthly and quarterly financial information and related schedules
- Preparation of detailed, analytical information for management and the board of Director
for a confidential assessment and consultation with an Accounting Recruitment Consultant.