Job Overview

Legal Counsel - Reinsurance

Location: City of London, London Salary: £80,000 - £100,000
Type: Permanent Contact: Tara Robinson
Posted: 4 months ago

Great opportunity to join this international specialist underwriter, who selectively focus on their key areas of expertise and strength to add real value to their brokers, clients, partners.

Working as part of a small and collegiate team, you will partner with our underwriters and reinsurance purchase team to provide expert reinsurance contract wordings guidance and legal advice on transactional issues across multiple lines of business and business units. There is also opportunity to be involved in other business, legal and regulatory projects in a fast-paced and dynamic environment, which gives the role holder the variety and opportunity for continuous learning and development and to build external working relationships with clients, reinsurers and reinsurance brokers.

Key responsibilities will include:

  • Reviewing, drafting and negotiating inwards and outwards treaty reinsurance contracts relating to a broad range of territories and lines of business (including property, specialty, casualty, marine and aviation).
  • Legal advice and support for a variety of non-standard reinsurance solutions, including parametric and index-based solutions products, collateralised reinsurance and ILS transactions.
  • Reviewing, drafting and negotiating a wide range of commercial agreements relating to reinsurance transactions including commutation agreements, novation agreements, trust agreements, non-disclosure agreements, service level agreements, terms of business agreements, collateral agreements, segregated account investment agreements and data protection agreements.
  • Reviewing and drafting internal reinsurance arrangements.
  • Legal support for product analysis and development.
  • Legal support on contentions reinsurance issues.
  • Assisting during negotiations with brokers, clients and reinsurers.
  • Researching legal and contracts issues, industry changes, clauses, regulatory issues, market trends and potential coverage issues.
  • Providing guidance and training to underwriters and other members of the group on contract and legal matters.
  • Attending external market meetings, interact with market bodies and participate in market working parties, where necessary, in order to influence changes and ensure our position is not compromised.
  • Interacting with other departments within the group (including claims, compliance, operations and finance).
  • Recommending and implementing ways to improve work practices and technology and minimise legal risks.
  • Interrogating data and participating in internal audits.

Experience and qualifications required:

  • UK/US or other common law jurisdiction qualified lawyer with 4+ years reinsurance experience, preferably including some non-contentious transactional experience, experience with insurance-linked securities transactions viewed favourably.
  • Knowledge of the reinsurance industry, customs and practices preferably gained in-house within a (re)insurance company or broking environment.
  • High level of attention to detail.
  • Good interpersonal skills.
  • Enthusiasm and willingness to challenge and influence decision making.
  • Ability to negotiate, influence and effectively disseminate knowledge.
  • Self-motivated with the ability to work both on own initiative and as part of a team.
  • Flexible approach to work with the ability to plan and manage workload to adhere to deadlines during peak renewal periods.
  • Ability to manage multiple projects in a dynamic business environment.
  • Ability to simplify and explain the complex.
  • Able to master the detail whilst showing an awareness of the bigger picture.
  • Excellent organisation skills.
  • Execution oriented.

If you are interested in this role, please apply below or contact me for more information.

Eames Consulting is acting as an Employment Agency in relation to this vacancy.