Head of Reinsurance

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed. The Group Head of Reinsurance will lead the Reinsurance Centre of Excellence (CoE) and will play a leading role in providing strategic advice and controls to optimize the use of reinsurance across all business units (BUs). This role involves defining, updating and overseeing the execution of the Group reinsurance strategy, maintaining decision-making frameworks, and ensuring adherence to reinsurance policies. Principal Accountabilities: Reinsurance CoE, Strategy and Execution: Develop and lead a Reinsurance CoE that provides centralised services for internal customers and partners, including the provision of specialist knowledge and development of best practices for efficient reinsurance management. Ongoing development and execution of the Group wide reinsurance strategy to optimise reinsurance costs and benefits for BUs and the Group. Maintain risk limits and retention levels for both BUs and the Group to optimise reinsurance costs while ensuring alignment with the risk management strategy. Implement a reinsurance decision-making and governance framework with suitable delegations to achieve the reinsurance strategy objectives in an agile way. Partner with BUs to optimise active reinsurance treaties, while coverage of new business is optimised in line with the Group wide reinsurance strategy. Support BUs to obtain best terms for the money spent on reinsurance and drive an improvement in financial KPIs. Enable local BUs to drive their protection strategy with further development of internal technical pricing capabilities, while ensuring they can access internal/external reinsurance support as appropriate. Combine reinsurance requirements of BUs to obtain preferential terms at a collective level while still maintaining practical reinsurance operations at BU level. Internal Reinsurer Management: Develop the internal reinsurer (PCA Re) as a fully functioning reinsurer. Manage PCA Re's operations and regulatory compliance. Structure and execute internal reinsurance arrangements aligned to Group strategy. Ensure that PCA Re interacts effectively with internal BU customers, external reinsurers and other stakeholders. This includes the provision of relevant reporting and management information to regulators and relevant Group and BU stakeholders. Reinsurance P&L Management: Manage the cost and performance of the reinsurance portfolio. Collaborate with finance, actuarial and capital management teams to monitor and optimise the use and profitability of the reinsurance arrangements. Relationship with Reinsurers: Build strong relationships with key reinsurers and collaborate with them to maximise opportunities and optimise the use of reinsurance. New Business Enablement: Partner with BUs to enhance underwriting capability and capacity. Provide expertise for developing and enhancing life insurance products. Develop capabilities for pricing protection products, risk assessment frameworks, and underwriting processes for smooth customer journeys. Reinsurance administration: Enhance reinsurance administration and monitoring capabilities across the BUs in the Group to ensure timely and accurate internal reporting, triggering management actions as and when required. Core Competencies Required: Strong understanding of reinsurance, life underwriting principles, risk assessment techniques, and regulatory compliance. Excellent communication and interpersonal skills to engage and build relationships with reinsurers, senior management, and stakeholders across the Group. Demonstrated