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Recruitment At African Reinsurance Corporation

Date Posted: 08/May/2014
Deadline: 30/May/2014

 Life Underwriter in the Lagos Regional Office

The African Reinsurance Corporation (Africa Re), a pan-African International Financial Institution with Headquarters in Lagos, Federal Republic of Nigeria, announces a vacancy for the position of Senior Underwriter in the Lagos Regional Office.

I. Job Details


This position is for a Treaty & Facultative Life Underwriter who will manage a portfolio of accounts (treaties and facultative) of cedants in West Africa (Anglophone Countries).

Grade and Duties

The post is a PS 2 grade with possibilities of advancement in the Organizational chart and the Corporation.

Reporting directly to the Regional Director, the successful candidate will manage the business relationship with assigned cedants and brokers in order to achieve profitability, liquidity, business growth and customer satisfaction on a sustainable basis.

As such the duties of the Underwriter shall comprise amongst others:

 Soliciting and receiving business offers from existing and potential clients, assessing such offers when received and determining whether or not to accept them in line with the Corporation’s underwriting policy/guidelines.

 Maintaining proper records of all business offers and transaction received and concluded.

 Paying regular market visits to assigned countries prospecting for new business and for the maintenance of existing business as well as for obtaining market statistics and other relevant information for the corporations’ strategic and operational use.

 Establishing and maintaining all contracts in respect of business offers accepted from cedants and brokers

 Preparing renewal and new business quotation proposals to cedants and brokers.

 Underwriting of substandard risks as well as cases above cedant’s underwriting limit

 Ensuring that all the treaties and facultative contracts are processed and the cover notes/slips/wordings signed and send out to cedants or brokers.

 Attending to client correspondences, social and business function and other related activities for overall marketing effectiveness

 Monitoring the profitability of markets serviced and monitoring progress towards the achievement of income targets in the assigned markets.

 Review of overall performance per market with a view to taking corrective measures where necessary

 Supervising and controlling subordinate staff through planning, controlling, coordinating and reviewing the duties assigned to them

 Processing of death claims, lapses and alterations.

 Preparation of quarterly bordereaux and statement of accounts and profit commission statements

 Assisting the finance team in reviewing the reconciliation of cedant and broker accounts and chasing outstanding amounts due from them while also ensuring timely remittance of amounts due to them.

 Providing technical assistance to markets and countries assigned.

 Attending to any other duties as may be assigned by the supervisors.

II. Location


The successful candidate shall be based in Lagos (Nigeria) with the possibility of redeployment to a Production Centre within the Africa Re Group.

III. Main Competencies required for this position


- Good skills in business software tools: MS Office, RMS

- Excellent knowledge of insurance and reinsurance.

- Very Good reporting skills.

- Good supervisory skills.

- Ability to quickly build very good and sustainable relationship with cedants



- Capacity for analyzing and reasoning

- Capacity for planning

- Ability to train cedants and subordinate

- 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 (speaking and writing). A good knowledge of a second language (French) shall be an added advantage.


IV. Qualifications and professional Experience


This position is a PS 2 grade and applicants shall be holders of:

 First University degree in relevant field plus Masters plus 5 years post qualification relevant qualitative work experience ;



 First University degree in relevant field plus full professional qualification plus 9 years post qualification relevant qualitative work experience;



 First University degree in relevant field plus 9 years post qualification relevant qualitative work experience;

 An actuarial or mathematical qualification or degree, professional qualification or a post graduate degree in insurance would be an added advantage, plus relevant work experience in a Reinsurance company or in the department of Reinsurance of an insurance company.


V- Benefits and salary

 The successful candidate shall have the following benefits:

 Competitive basic salary

 Exemption from taxes and duties (diplomatic status of an international civil servant);

 75% medical cover for staff and family;

 Education allowance for each child up to 26 years (maximum 4 children);

 Duty Post Differential that may increase or decrease depending on the economic situation paid in local currency;

 Home leave to country of origin every two years paid by the employer;

 Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the employer).


Closing date for applications is 30 May 2014.

Method of Application

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