Vice President, P&C Assumed Claims And In-Force Management

Position:
Reporting to the Chief P&C Reinsurance Officer, this experienced leader will be responsible for overseeing the reinsurance loss experience on, and overall performance of, the 15+ loss portfolio transfer reinsurance agreements between Fortitude Re and its ceding companies (total ~$4.5B of net reserves) as well as future P&C reinsurance portfolios that Fortitude Re closes and onboards in the future.

Activities and Responsibilities:

• Tracking, monitoring, and directing reinsurance claims experience on Fortitude Re's in-force portfolio;
• Establishing a "playbook" and metrics for oversight, including cedant-reinsurer meeting cadence and agendas and presentation and analysis of claims data;
• Assisting with, and validating the claims aspects of, the applicable reinsurance settlement processes;
• Managing the reinsurance audit process;
• Serving as a primary point of contact for claims matters requiring or allowing for Fortitude Re consultation rights;
• Understanding and exploring the extent of potential losses in Fortitude Re's P&C reinsurance portfolios in situations in which Fortitude's third-party P&C claims administrator is not directly handling claims;
• Validating inuring reinsurance recoverables to ensure that Fortitude Re is only reinsuring its cedants' net exposure (where applicable);
• Monitoring erosion of reinsured policy aggregates;
• Identifying, advancing, and resolving contractual and other claims-related disputes between Fortitude Re and its ceding companies;
• Working collaboratively within Fortitude Re and with its deal counterparties to integrate newly-acquired P&C business;  and
• Managing E&O and other claims-related reinsurance issues, in concert with legal and other resources.

Requirements:

• 10 or more years of progressive management experience in P&C claims, preferably with experience with ceded or assumed reinsurance
• JD or insurance industry designation (CPCU, ARM) strongly preferred
• Functional knowledge of the P&C legacy market and legacy/run-off transaction types (including loss portfolio transfers, adverse development covers, insurance business transfers, and commutations and novations)
• Proven ability to analyze reinsured claim trends and identify emerging reinsurance claims issues
• Ability to analyze reinsurance contracts and execute on plans to enforce the reinsurer's rights, duties and obligations and respects reinsured Claims and losses
• Ability to balance a customer-centric focus with the willingness to respectfully challenge Fortitude Re's ceding companies on reinsurance coverage, claim allocation, inuring reinsurance, and other related issues
• General fluency in P&C actuarial and finance principles, including familiarity with rating agency and regulatory capital models
• Ability to effectively synthesize and communicate observations and insights and convert into actionable plans
• Willingness and ability to confidently, comfortably, and effectively communicate with brokers, counterparties, investors and regulators, on occasion and as appropriate
• Readiness to work collaboratively with a small, experienced group of Fortitude Re leaders in a high-performance, goal-oriented environment