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Home  |  Accounting-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 based.

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
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