The African Reinsurance Corporation (Africa Re) is the leading African reinsurance company with headquarters in Lagos (Nigeria).
Africa Re has six regional offices: Casablanca (Morocco), Abidjan (Côte d’Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Ebene (Mauritius).
The Corporation equally has two subsidiaries: African Reinsurance Corporation South Africa Ltd in Johannesburg (South Africa), Africa Retakaful in Cairo (Egypt) and one Local Office in Addis Ababa (Ethiopia).
Africa Re has a broad-based shareholding comprising 41 African member States, the African Development Bank (AfDB), 114 African insurance and reinsurance companies and three non-regional shareholders, including leading global insurers and reinsurers.
The Financial Strength and Credit Rating of Africa Re is A by A.M. Best and A – by Standard & Poor’s.
Africa-Re hereby announces the vacancy for the position of Underwriting Assistant for the Underwriting Department at its Nairobi Regional Office, Kenya
Job Details
Duties / Job Details
This position is in the support staff grade with possibilities of advancement in the Corporation.
The successful candidate will have the responsibility for managing the Facultative portfolio of the Regional Office and reporting to the Manager – Underwriting.
This position is for Underwriting Assistant whose main responsibility shall comprise, but not limited to:
Maintain proper records of all facultative book acceptance
Keep an audit trail of all facultative acceptance
Prompt processing of facultative acceptance/amendments in the system and issue Debit/Credit notes to brokers/ cedents
Follow up premium closing and settlement, as well as remittance advices from brokers/cedents
Communicate cedents/brokers notice of cancellation for breach of PPW
Follow up renewals of facultative book monthly and send renewal advices to brokers/cedents after vetting the profitability of the account and follow up to logical conclusion
Review and acknowledge renewal notification received from cedants and brokers, and follow up to logical conclusion
Prepare progress monthly reports on facultative account book
Communicate underwriting decision to broker/cedent in consultation with supervisors
Conduct cedent/broker account reconciliation by liaising with Finance and claims teams
Perform other Underwriting and claims related duties when assigned
Support in coordinating rating exercises
Any other duties as may be determined by the supervisor from time to time.
Main Competencies
Competencies and Additional Requirements
I. Main Competencies required for this position
Good skills in business software tools: Word, Excel, Power Point, SICS (is an advantage).
Very good technical knowledge of the classes of business (underwriting and claims)
Good knowledge of reinsurance and retrocession.
Good reporting skills.
II. Behavioural Competencies
Reliability
Discipline
Punctuality
Capacity for analyzing and reasoning
Capacity for planning
Capacity for taking initiatives and decision
Ability to foster cordial relationship with cedants and colleagues
Should be of high Integrity and have good sense of responsibility
Should be fluent in English language
A working knowledge of the French language shall be an added advantage.
Academic Qualifications
Minimum Qualifications and Experience
Applicants shall be holders of:
First University degree in relevant field plus a minimum of 3 years relevant work experience.
The relevant work experience in an underwriting department of an insurance or reinsurance company is a must.
Salary & Benefits
The successful candidate shall have the following benefits:
Competitive Basic Salary on the Corporation’s SS Grade Level
Inflation adjustment that may increase of depending on the economic situation
Variable pay (Annual Performance Bonus)
Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the employer)
Education subsidy for each child up to 26 years (maximum 4 children)
Medical cover for staff and recognized dependents
Transport Allowance
Housing Allowance
Additional Requirements
Applicants must also be:
Fluent in English and working knowledge of French will be an added advantage
Nationals of Members state of Africa Re
A resident of Nairobi
Procedure for Application
Interested candidates are requested to send their applications together with their detailed CV by email to nairobi.vacancy@africa-re.com
CLOSING DATE FOR SUBMISSION OF APPLICATIONS:March 31st 2021
Africa-Re is an equal opportunity employer and offers good working environment commensurate with international organizations.
