HSB Canada, part of Munich Re, is Canada's premier engineering-driven specialty insurer and provider of inspection, engineering and technology services that set the standard for excellence in the market. Our constantly evolving offeringsleadthe market in cyber, equipment breakdown, renewable energy, technology services, engineering based risk management and inspection services. We bring technicalexpertiseto help our clients stay ahead of complex,emerging,and technology-based risks. We dare to thinkbig,and we are continuously innovating on behalf of our clients. We recognize Diversity, Inclusion, and Belonging as key priorities and a culture that welcomes different thoughts and opinions.

HSB is much more!It’sinsurance. Engineering. Technology. To learn more about us, please visit

Primary Objectives:

TheManager, Contracts and Ceded Reinsuranceplaysa critical role within HSB Canada's Corporate Underwriting team. This positionis responsible forthe full lifecycle management of direct, assumed, and ceded reinsurance contracts, and serves as the primary contract authority across the organization.The Manager drives contract strategy, ensures regulatory compliance, leads negotiations, and partners with internal business units to support new product development, business initiatives, and partnership agreements.This positionreports toAssistantVicePresident CorporateUnderwriting.

JobResponsibilities:

Contract Lifecycle Management

- Oversee end-to-end lifecycle management of all direct, assumed, and ceded reinsurance contracts, policy forms, and related legal documents handled by the group.

- Ensure thetimelydrafting, review, execution, and renewal of contract terms and conditions in alignment with HSB Canada and Munich Re standards, regulatory requirements, and document retention policies.

- Maintain an accurate and up-to-date repository of all contracts, tracking key milestones, expiration dates, and renewal obligations.

Leadership & Stakeholder Engagement

- Act as the lead (re)insurance contract representative for HSB Canada, engaging with executive leadership, business unit heads, external partners, clients, and reinsurers.

- Build andmaintaintrusted relationships with internal and external stakeholders, providing clear and effective communication on contract matters, risks, and obligations.

Contract Interpretation

- Serve as lead negotiator on (re)insurance contracts, advocating for HSB Canada's interests while maintaining productive relationships with clients, cedants, and reinsurance counterparties

- Effectively balance client and partner requests against HSB Canada's corporate strategies, risk appetite, and legal obligations.

Compliance & Risk Management

- Ensure all contracts comply with applicable regulatory requirements across Canadian jurisdictions,



as well as HSB and Munich Re internal standards and governance frameworks.

- Identify contractual risks and work with legal, compliance, and finance teams to mitigate exposure.

- Monitor regulatory developments affecting (re)insurance contracts and proactively update contract templates and processes accordingly.

Process Improvement & Operational Efficiency

- Develop, implement, andmaintaina continuous improvement plan aimed at driving efficiency, reducing contract turnaround time, and enhancing overall contract management processes.

- Champion digital and process innovation initiatives to streamline contract workflows and improve the client and partner experience.

Product Development & Legal Support

- Collaborate with business units to provide legal and compliance support for new product development and implementation, including review of policy forms, wordings, underwriting guidelines, marketing materials, and training content.

- Support the review and negotiation of partnership agreements, distribution agreements, and other commercial contracts.

- Partner with legal counsel as needed to resolve complex contractual or regulatory issues.

Business Initiative Support

- Act as a key partner in evaluating and supporting new business initiatives, strategic partnerships, and product launches from acontractand compliance perspective.

- Contribute to cross-functional project teams, providing subject matterexpertiseon contract structure, terms, and risk considerations.

Qualifications:

- Post-secondary education in law, business, insurance, or a related field; a legal background is preferred

- 7-10+ years of progressive experience in (re)insurance contract management, underwriting, orrelatedlegal/compliancerole.

- Previousexperiencewith drafting and negotiating assumed or ceded reinsuranceandbroker/MGAcontracts isrequired

- CIP/FCIP designation is considered an asset

- Strong knowledge of Canadian insurance regulations and reinsurance market practices.

- Proven negotiation, drafting, and contract interpretation skills.

- Excellent written and verbal communication skills, with the ability to present complex contract matters clearly to executive and non-legal audiences.

- Demonstrated ability to manage competing priorities in a fast-paced environment.

- Robust analytical and problem-solving skills with a detail-orientedapproach

- Knowledgeof insurance and reinsurance coverages

- Proficient PC skills (MicrosoftApplications,e.g.Word, Excel)





- Knowledge of HSB proprietary systems, processes and assumed business model is a plus

- Bilingual in English and French is preferred, but not mandatory

Company Benefits

Together, we engage with everything we have and are, to help humankind act braver and better. Go further with HSB.

We are pleased to offer our employees great benefits and resources to support their mental, physical and financial wellbeing. These include:

- An engaging and team-oriented environment that promotes continuous learning and development

- A hybrid work environment that combines weekly in-office and remote days

- A great compensation package including an annual company bonus

- Competitive company-paid flexible health and dental benefits, starting on your first day

- Flexible dollars provided by the company to put towards a Health Spending Account and/or Wellness Spending Account

- Wellness program with tools and resources supporting your mental, physical, and financial wellbeing – on and off the job

- Participation in the DC Pension Plan with a progressive employer contribution scale based on tenure starting at 4%, plus optional company match in the RRSP plan

- Generous time off including vacation, personal days, unplanned time, StatutoryHolidaysand company-wide early closure half-days

- Learning and development programs and resources, including unlimited access to LinkedIn Learning, Education Assistance Program, and reimbursement for professional fees

- Employee Referral Program and Recognition Program

Our base salary range for this role is between $142,650 and $166,425 peryear ,plus an opportunity for an annual company bonus based upon a percentage of eligible pay. The salary estimate displayedrepresentsthe typical salary range for candidates hired in this position. Factors that may be used todetermineyour actual salary include your specific skills, how many years of experience youhaveand comparison to internal equity.

This roleis located inour Toronto office on 390 Bay St, and weoperatein a hybrid work model. This jobposting isfor a new vacancy.

We do not use AI in our recruitment process - applications are reviewed by our team to ensure a fair and personalized experience.

Creating andmaintaininga work environment that promotes respect,diversity,and dignity is important to us. We strive for equality in our workplace, toeliminateemployment barriers, and promote a workplace based on principles which align with our company values and promote positive employee practices.Candidates requiring accommodation during any stage of our selection process shouldadviseus of this; we will strive to work with individuals to find a suitable means to meet their needs.

We thank all candidates for their interest;however,only those selected for interview will be contacted.

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📌 Manager, Contracts and Ceded Re Ops (Toronto)
🏢 HSB Canada
📍 Toronto