Reinsurance Bermuda Jobs (NOW HIRING)

What part will you play? If you’re looking for a place where you can make a meaningful difference, you’ve found it.The work we do at Markel gives people the confidence to move forward and seize opportunities, and you’ll find your fit amongst our global community of optimists and problem-solvers. We’re always pushing each other to go further because we believe that when we realize our potential, we can help others reach theirs. Join us and play your part in something special! Senior Legal Counsel, Ceded Reinsurance partners closely with Markel’s Global Ceded Reinsurance and ILS teams to provide end-to-end legal support for complex outwards reinsurance and collateralized risk transfer transactions. The role has primary responsibility for structuring, drafting, negotiating, and closing reinsurance agreements, trust and collateral frameworks, commutations, and specialty product documentation, with particular focus on fronting arrangements, quota shares, ILWs, and ILS programs supporting Markel Bermuda Limited. Operating in a highly cross-functional and global environment, this role collaborates with underwriting, finance, claims, brokers, and Nephila’s legal teams across Bermuda, London, and the U.S., while ensuring regulatory compliance, governance alignment, credit and concentration risk controls, and timely execution of agreements in accordance with Markel’s global wording standards and service expectations.Job Posting Title: Senior Counsel, Ceded ReinsuranceSummary:This role will partner with and primarily support the contract needs of Markel’s Global Ceded Reinsurance team, including reinsurance agreements, trust agreements, intermediary/broker agreements, commutations agreements, non-disclosure agreements, etc.The role is highly cross‑functional, partnering with Underwriting, Ceded Re, Finance/Accounting Policy, Claims, and Nephila’s legal team in Bermuda, London, and the US.Job ResponsibilitiesPartner with Markel’s Ceded Re Placement leads to understand each reinsurance deal and take primary responsibility over drafting, editing, and finalizing the various contracts associated with each outwards reinsurance placement. This includes understanding the product lines covered, their respective coverages, appropriate exclusions, and the proposed/final reinsurance terms.Partner with Markel’s Ceded Re team in negotiation of contract terms, reinsurance coverage, and other wordings to protect Markel’s interest and ensure contracts align with the intent.Primary responsibility for managing contracts associated with the Insurance Linked Securities (ILS) market in order to provide end‑to‑end legal support for Markel Bermuda Limited’s fronting and ILS activities, including structuring, drafting, negotiating, and closing quota share and related agreements; overseeing trust and collateral frameworks; managing industry loss warranty (ILW) arrangements; advising on specialty products; and coordinating Bermuda regulatory engagements and board governance.Structure and maintain trust agreements and Risk Transfer Framework Agreements (RTFAs) supporting Markel’s ILS fund groups ensuring collateral sufficiency, trust operations, and signatory governance for payments.Provide advice on all specialty products legal documents from end to end including reservations-of-rights (ROR) language, claims, commutation, and other agreements.Form strong relationships with ILS council to help build strong relationships between the ILS group, legal and ceded.Draft and negotiate commutation amendments and legacy claim clean‑ups; coordinate with Finance/Claims and audit trail requirements.Serve as the backup legal interface with Nephila counsel and internal partners (Head of ILS Solutions, Managing Director Ceded Re, Accounting Policy, Claims), facilitating quick issue resolution and document execution.Partner with Ceded Re leadership to embed counterparty concentration and credit‑risk controls into master QS language/MOUs and future fronting frameworks.Ensure all agreements are executed on a timely basis to meet internal Markel Service Level Agreements, as well as the appropriate regulatory requirements.Maintain and manage a library of all ceded reinsurance clauses and wordings and appropriate supporting documentation.Maintain and enhance Markel’s standard reinsurance wording library used in reinsurance contracts, trust agreements, non-disclosure agreements, commutation agreements, broker arrangements, etc. and ensure they remain aligned with industry best practices and the latest industry trends.Build relationships with Markel’s reinsurance brokers and their contract wording teams.Work closely with Markel partners and reinsurers on deals placed on a direct basis.Negotiate trust agreement language with reinsurers and their financial institutions.Bring all current Markel reinsurance agreements up to our global wording standards, while catering for local regulatory and commercial requirements where needed.Partner with and leverage our local internal legal teams where required.Facilitate any engagement with outside counsel where needed.Lead and participate in special projects as required.EducationBachelor’s degreeJD requiredCertificationN/AWork Experience8+ years of experience in (re)insurance transactional work, with deep knowledge of fronting, quota shares, trust agreements, ILWs, and collateralized ILS programs.Transactional drafting and negotiation.BMA regulatory fluency and governance.Credit, collateral and concentration risk acumen to master quota share guardrails and fronting carrier protection.Skill SetsExpertise in Bermuda insurance regulation and BMA filings.Familiarity with specialty products such as BESS.Comfortable leading complex cross-border negotiations with counterparties and external counsel.Excellent written and oral communication skills.Solid understanding of US, Bermuda, and England/Wales re/insurance law, including regulatory requirements surrounding reinsurance contracts.Strong negotiating skills.Strong project management and organization skills.Excellent attention to detail.Ability to deliver outstanding customer service.Excellent skills in Microsoft Office products (Excel, Outlook, Power Point, Word, Copilot and AI).Ability to work in a global team environment and ability and willingness to work independently and remotely.Strong desire for continuous improvement.#LI-Hybrid#LI-SYUS Work AuthorizationUS Work Authorization required. Markel does not provide visa sponsorship for this position, now or in the future.Pay information:The base salary offered for the successful candidate will be based on compensable factors such as job-relevant education, job-relevant experience, training, licensure, demonstrated competencies, geographic location, and other factors. The national average salary range for the Senior Legal Counsel, Ceded Reinsurance position is $116,080 - $159,610/year with a 25% bonus potential.Who we are:Markel Group (NYSE – MKL) a fortune 500 company with over 60 offices in 20+ countries, is a holding company for insurance, reinsurance, specialist advisory and investment operations around the world.We’re all about people | We win together | We strive for betterWe enjoy the everyday | We think furtherWhat’s in it for you:In keeping with the values of the Markel Style, we strive to support our employees in living their lives to the fullest at home and at work.We offer competitive benefit programs that help meet our diverse and changing environment as well as support our employees’ needs at all stages of life.All full-time employees have the option to select from multiple health, dental and vision insurance plan options and optional life, disability, and AD&D insurance.We also offer a 401(k) with employer match contributions, an Employee Stock Purchase Plan, PTO, corporate holidays and floating holidays, parental leave.Are you ready to play your part?Choose ‘Apply Now’ to fill out our short application, so that we can find out more about you.Caution: Employment scamsMarkel is aware of employment-related scams where scammers will impersonate recruiters by sending fake job offers to those actively seeking employment in order to steal personal information. Frequently, the scammer will reach out to individuals who have posted their resume online. These "job offers" include convincing offer letters and frequently ask for confidential personal information. Therefore, for your safety, please note that:All legitimate job postings with Markel will be posted on Markel Careers. No other URL should be trusted for job postings.All legitimate communications with Markel recruiters will come from Markel.com email addresses.We would also ask that you please report any job employment scams related to Markel to rarecruiting@markel.com.Markel is an equal opportunity employer. We do not discriminate or allow discrimination on the basis of any protected characteristic. This includes race; color; sex; religion; creed; national origin or place of birth; ancestry; age; disability; affectional or sexual orientation; gender expression or identity; genetic information, sickle cell trait, or atypical hereditary cellular or blood trait; refusal to submit to genetic tests or make genetic test results available; medical condition; citizenship status; pregnancy, childbirth, or related medical conditions; marital status, civil union status, domestic partnership status, familial status, or family responsibilities; military or veteran status, including unfavorable discharge from military service; personal appearance, height, or weight; matriculation or political affiliation; expunged juvenile records; arrest and court records where prohibited by applicable law; status as a victim of domestic or sexual violence; public assistance status; order of protection status; status as a smoker or nonsmoker; membership or activity in local commissions; the use or nonuse of lawful products off employer premises during non-work hours; declining to attend meetings or participate in communications about religious or political matters; or any other classification protected by applicable law.Should you require any accommodation through the application process, please send an e-mail to the rarecruiting@markel.com.No agencies please. #J-18808-Ljbffr