Head of Insurance

About the Role

<h2>Head of Insurance</h2><p>The Head of Insurance is a senior leadership role responsible for developing and managing the enterprise-wide insurance and risk transfer strategy for the organisation?s EPC operations across Saudi Arabia and the GCC region. Based out of the India GCC, this role will lead the end-to-end insurance function covering project insurance, corporate insurance lines, claims management, regulatory compliance, and insurer/broker relationships while working closely with Saudi HQ leadership.</p><h3>Company Overview</h3><p>The organisation is a leading Saudi Arabian Engineering, Procurement &amp; Construction (EPC) company delivering large-scale projects across oil &amp; gas, petrochemical, power, and infrastructure sectors across Saudi Arabia and the GCC region. The company?s Global Capability Centre (GCC) in India acts as a strategic hub supporting corporate functions including finance, insurance, legal, procurement, and digital operations, enabling efficient delivery across the global project portfolio.</p><h3>Key Responsibilities</h3><ul><li>Develop and execute the global insurance programme strategy aligned with corporate risk appetite and project pipeline.</li><li>Manage the portfolio of insurance placements including CAR/EAR, ALOP/DSU, Marine Cargo, Third-Party Liability, Professional Indemnity, and D&amp;O.</li><li>Lead renewal negotiations with brokers, insurers, and reinsurers to optimise coverage and premium spend.</li><li>Evaluate captive insurance and alternative risk financing strategies as the organisation scales.</li><li>Provide insurance advisory across the EPC project lifecycle ? from bid stage to project completion.</li><li>Review insurance clauses in EPC contracts ensuring compliance with client and lender requirements.</li><li>Manage project-specific insurance programs (OCIP / CCIP) and coordinate Certificates of Insurance.</li><li>Support project finance insurance requirements for lenders and financial institutions.</li><li>Oversee the end-to-end claims process including documentation, negotiation, and settlement.</li><li>Manage loss adjusters, forensic experts, and legal advisors.</li><li>Maintain claims registers and provide regular reporting to Finance and senior leadership.</li><li>Conduct post-loss reviews and implement preventive risk measures.</li><li>Collaborate with Enterprise Risk Management (ERM) and HSE teams to identify and mitigate insurable risks.</li><li>Conduct risk assessments for new projects, geographies, joint ventures, and subcontractors.</li><li>Recommend appropriate risk transfer or risk retention strategies.</li><li>Ensure compliance with Saudi insurance regulations and GCC country requirements.</li><li>Maintain compliance with Indian regulatory frameworks for GCC-based operations.</li><li>Establish governance frameworks for insurance policy management, documentation, and reporting.</li><li>Lead the selection and management of insurance brokers and ensure service delivery.</li><li>Maintain relationships with global insurers and reinsurers.</li><li>Conduct regular broker performance and market reviews.</li><li>Build and lead a high-performing insurance team within the GCC India structure.</li><li>Define KPIs, manage performance reviews, and develop capability within the function.</li><li>Drive knowledge development on emerging risks such as cyber, climate, and geopolitical risks.</li><li>Manage the insurance premium budget across multiple projects.</li><li>Track insurance recoveries, reserves, and impact on project P&amp;L.</li><li>Provide financial analysis and recommendations to optimise insurance costs.</li></ul><h3>Requirements</h3><ul><li>Bachelor?s degree in Finance, Business Administration, Commerce, Engineering, or related field.</li><li>Professional insurance certification such as ACII, CPCU, CRIS, or equivalent.</li><li>15+ years of experience in insurance, with at least 7 years in EPC / construction / oil &amp; gas insurance.</li><li>Proven experience managing CAR/EAR, ALOP, Marine Cargo, PI, D&amp;O, and Liability programs.</li><li>Strong exposure to GCC or Middle East insurance markets.</li><li>Demonstrated track record handling large insurance portfolios and complex claims.</li><li>MBA or Master?s in Risk Management / Insurance / Finance (preferred).</li><li>Experience with captive insurance structures (preferred).</li><li>Exposure to project finance insurance requirements (preferred).</li><li>Knowledge of major EPC client insurance standards (preferred).</li><li>Familiarity with cyber risk and emerging insurance solutions (preferred).</li></ul><h3>Work Arrangements</h3><ul><li>Location: GCC India (Hybrid) ? Travel to KSA as required.</li><li>Employment Type: Full Time.</li></ul>

Requirements

Benefits