AmericanAg®, a global provider of diversified reinsurance services, is looking for a Reinsurance Placement Specialist to join our Reinsurance Strategy and Placement & Broker Assumed Operations team based out of our office in Schaumburg, Illinois. This is a hybrid position working in the office three days a week.
Reporting to the Director of Reinsurance Strategy and Placement, the Reinsurance Placement Specialist will play an important role in supporting the department in reinsurance and retrocessional information gathering, structure optimization, and transaction execution.
The Reinsurance Placement Specialist will be responsible for:
- Building and maintaining strong relationships with brokers and reinsurers, with significant participation in meetings addressing marketing of programs
- Working with internal stakeholders as the liaison between reinsurance brokers and/or direct writer reinsurers concerning individual treaty reinsurance transactions
- Assisting in placement of reinsurance protections for AmericanAg® in accordance with the company’s enterprise risk management guidelines
- Contributing to the review of underwriting submissions, program structures, policy language, and market quoting for reinsurance programs
- Working with clients, brokers, and reinsurers relating to all aspects of assumed and ceded reinsurance programs at AmericanAg®
- Tracking and analyzing pricing feedback from internal and external sources
- Maintaining current, in-depth knowledge of the reinsurance marketplace – including industry activity and trends, state issues and regulations, and market developments – to provide timely and relevant information to internal and external stakeholders
- Coordinating with internal departments regarding treaty administration, compliance issues, and execution of conditions of contracts
- Organizing and coordinating internal responses to requests for transactional audits for corporate or state-specific reinsurance placements
What you will bring to this role:
- Bachelor’s degree or equivalent experience
- Six or more years of insurance experience, with three years of reinsurance experience
- Thorough understanding of reinsurance contract language and reinsurance pricing concepts
- Extensive knowledge of the reinsurance market as it relates to reinsurance companies, product and service offerings, market pricing, coverage, and capacity trends, and the personnel in the direct and broker market channels
- Understanding of the process of buying reinsurance, including submission development, finalization of reinsurance terms and conditions, gathering authorizations, signing of lines, and contract management
- Excellent interpersonal, written, and verbal communication skills, along with the ability to build and develop relationships
- Experience with reinsurance finance and claims administration
- Fluency with catastrophe modeling output
- Proficiency with Microsoft Office products, especially with Excel
- Continuing education in insurance certification programs (CPCU, ARe) preferred
The expected starting salary range for this position is between $150,000-$190,000. Applicable salary ranges may differ across markets. Actual pay will be determined based on experience and other job-related factors permitted by law. This position is also eligible for an annual bonus.
We do not sponsor employment visas and are unable to take over an employment visa from another employer. Applicants must be authorized to work in the U.S. for ANY employer without the need for employment visa sponsorship.
Who We Are
Since 1948, AmericanAg® has provided reinsurance services that promote the financial strength and success of its clients. We are a direct provider of reinsurance to the Farm Bureau® insurance companies and also participate in assumed U.S. and international reinsurance programs through the broker marketplace. Learn more at aaic.com
Reasons to Consider AmericanAg®
At AmericanAg®, you’ll work alongside a diverse team of highly educated and experienced professionals. We foster a dynamic culture where innovative ideas are championed and brought to life and where employees are appreciated, engaged, and encouraged to reach their full potential.
AmericanAg® offers a competitive benefits package for employees and eligible dependents that includes medical, dental, vision, life, and disability insurance; company-funded cash balance retirement plan and 401(k) retirement plan; Flexible Spending and Health Savings Accounts; paid holidays, vacation, and sick time; Paid Parental Leave, Employee Assistance Program; and other benefits. Click here to learn more.
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What We Do
American Agricultural Insurance Company (AmericanAg) stands out from the marketplace as a provider of reinsurance services across the insurance spectrum with a growing global presence. We are a direct provider of reinsurance to Farm Bureau® insurance companies and participate in U.S. and non-U.S. reinsurance programs through the broker marketplace. With more than 70 years of experience, we know our success is inextricably tied to that of our customers’. Today, whatever the market, wherever the location, we take the time to understand the nuances of our clients’ business and collaborate with them on reinsurance solutions specific to their needs and goals. Our clients benefit from our expertise, rigorous analysis, intelligent innovation, and global resources. We work hard to earn trust with personal and responsive service, transparent communications, stable financial protection, and prompt claim payment. Our forward-thinking solutions are essential for staying ahead in a market that continues to evolve. AmericanAg is not only a reinsurer, but also a resource—helping to transform risk into opportunity and supporting profit and growth.
