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AVP- Engineering Department I Dubai Financial Services| Orient Insurance PJSCI (AE) contract
Job Requisition ID: 177574
Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions; automotive, financial services, real estate, retail and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world’s most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organization to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.
By upholding our values of respect, excellence, collaboration and integrity; Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day
Job Description:
The Assistant Vice President (AVP) – Engineering Department will play a strategic role in managing, assessing, and placing complex engineering risks. This position requires deep technical expertise in underwriting large-scale engineering risks, a strong understanding of reinsurance arrangements, and meticulous attention to contract wordings and documentation. The AVP will liaise with internal teams, brokers, cedants, and reinsurers to ensure optimal placement terms while mitigating risk exposure.
What you will do
- Analyze and evaluate engineering risks to determine appropriate underwriting decisions and pricing strategies.
- Arrange terms from reinsurance markets for engineering lines of business, ensuring competitive and comprehensive coverage.
- Secure special acceptances from treaty leaders for non-standard or high-value risks.
- Place risks in facultative markets by negotiating favorable terms and conditions with reinsurers.
- Scrutinize facultative inward slips from cedants and brokers to identify potential exposures and ensure alignment with underwriting guidelines.
- Evaluate and accept facultative inward risks, ensuring profitability and adherence to company standards.
- Review and interpret bespoke contract wordings for engineering risks received from various sources, ensuring accuracy and compliance.
- Arrange policy documents and endorsements, ensuring timely issuance and precision in contractual obligations.
Required Skills to be successful
- Strong technical background in engineering risk underwriting and reinsurance placement.
- In-depth knowledge of treaty and facultative reinsurance markets.
- Proficiency in analyzing complex contractual wordings and insurance documentation.
- Excellent negotiation and communication skills with stakeholders at all levels.
- Ability to work under pressure and manage multiple high-value transactions simultaneously.
- Bachelor’s degree in Engineering, Insurance, Risk Management, or related field; professional certifications in insurance or reinsurance are an advantage.
What equips you for the role
Technical Skills
- Advanced proficiency in MS Office suite (Excel, Word, PowerPoint)
- Experience with underwriting systems and digital platforms
- Data analysis and reporting capabilities
Experience
- Minimum 5 years of progressive experience in Engineering insurance underwriting
- At least 2 years in a senior underwriting or managerial position
- Proven track record in managing profitable Engineering insurance portfolio
- Experience in reinsurance placements for large and complex risks
About Orient Insurance PJSC
Orient Insurance Company commenced operations in 1982 as a part of the reputed Al-Futtaim Group and has since recorded a progressively steady growth. The Company is counted among the leaders in the UAE insurance market. Orient Insurance Company has a paid-up capital of AED 500 Million which is the highest in the insurance industry in UAE. With head office in Dubai, the company serves its clientele through an extensive branch network in Jebel Ali, Abu Dhabi, Al Ain, Sharjah and Ras Al Khaimah in UAE, Muscat in Sultanate of Oman, Riyadh in Kingdom of Saudi Arabia and Bahrain.
Source ⇲
Al Futtaim Private Company LLC - Custom Search locationMulti:(AE)