Head of Insurance

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