Head of Property I KSA I Financial Services I Orient Insurance PJSC

Head of Property I KSA I Financial Services I Orient Insurance PJSC

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 Head of Property is responsible for leading the property insurance portfolio, including underwriting, product development, pricing, risk assessment, and profitability management. The role ensures sustainable growth, strong technical underwriting standards, and compliance with regulatory requirements within the Saudi insurance market.

What you will do

• Develop and execute the property insurance strategy aligned with company objectives.
• Manage the profitability, growth, and performance of the property portfolio.
• Monitor market trends and adjust underwriting strategies accordingly.
• Establish underwriting guidelines, policies, and risk appetite.
• Review and approve large or complex property risks.
• Ensure consistent underwriting standards across the organization.
• Lead the development and enhancement of property insurance products.
• Oversee pricing models to ensure competitiveness and profitability.
• Collaborate with actuarial teams on pricing adequacy and reserving.

4. Risk Assessment & Engineering

• Supervise risk surveys and engineering assessments for industrial and commercial risks.
• Ensure proper evaluation of fire, business interruption, and catastrophe risks.
• Implement risk mitigation recommendations for clients.
• Work closely with reinsurance teams to structure appropriate treaties and facultative placements.
• Negotiate terms with reinsurers to optimize coverage and cost.
• Monitor reinsurance utilization and recoveries.

6. Claims Coordination

• Collaborate with claims teams on large or complex property claims.
• Provide technical input on coverage interpretation and loss assessments.
• Analyze claims trends to refine underwriting practices.

7. Regulatory Compliance

• Ensure compliance with regulations issued by Saudi Central Bank.
• Maintain proper documentation and adherence to local insurance laws and standards.
• Lead, mentor, and develop the property underwriting team.
• Build technical expertise and succession planning within the department.

Required Skills to be successful

• Bachelor's degree in Insurance, Risk Management, Engineering, Finance, or related field.
• Professional certifications such as ACII, CPCU, or equivalent are preferred.
• Minimum 10+ years of experience in property insurance underwriting.
• At least 5 years in a managerial or leadership role within Saudi Arabia.
• Strong experience in commercial and industrial property risks.

What equips you for the role