Job Purpose.
The underwriters are responsible for analyzing data and insurance markets including regulatory frameworks. Initiation, needs analysis, pricing, and finalization of reinsurance business (treaties and facultative), managing business relationship/s with cedants and brokers to achieve profitability, liquidity, business growth and customer satisfaction on a sustainable basis.
PRIMARY RESPONSIBILITIES:
Duties and responsibilities at this level will entail.
Analyzing and Processing Inward International Business i.e. New Business Offers and the Existing Business respectively.
Reconciliation of amounts owed/owing to/from specified companies
Adhere to underwriting procedures and guidelines, while developing strong relationships with cedants and brokers.
Solicit and receive business offers from existing and potential clients, assessing such offers and determining whether to accept them or not in line with the Corporation’s underwriting policy.
Manage and carry out prudent underwriting of the reinsurance business.
Maintain constant liaison with ceding companies/retrocessions and monitor performance by ensuring robust and healthy relationships with the clients. (Both current and potential clients).
Maintain constant liaison with ceding companies/retrocessions and monitor performance by ensuring that up-to-date records are maintained.
Ensure that ceding companies comply with the Corporation’s reinsurance requirements on submissions of returns/closings and remittance of premiums.
Check and confirm technical statements/closings from the ceding companies.
Coordinate and prepare the Corporation’s retrocession programme
To analyse business performance by risk/class.
To produce annual premium schedules on apportioned risks as regards to the amounts retained, amounts ceded to the treaty/facultative reinsurers
Plan for and develop staff in the department.
Requirement/Person Specifications
Academic Qualifications
Bachelor’s degree in any of the following disciplines: Bachelor of Science (General, Statistics, Mathematics), Bachelor of Science- Actuarial science, Commerce (Insurance Option, Marketing or Business Administration, Business Administration (Finance or Accounting) option, Business Management (Finance or Accounting) Option, Strategic Management or equivalent from a recognized institution.
Professional Qualifications
Associate in insurance (ACII- London or AIIK- Kenya) or equivalent qualifications from a recognized institution.
Member of the Insurance Institute of Kenya (IIK) or its equivalent in good standing.
Supervisory course lasting not less than two (2) weeks from a recognized institution.
Experience
Atleast five (5) years of relevant work experience.
Other Requirements
Excellent planning organizing, problem solving and ability to work under pressure to meet deadlines.
Team player with excellent analytical and presentation skills.
Proficiency in computer applications; and
Meets the requirements of Chapter Six (6) of the Constitution Proficiency in computer applications.
Possess excellent interpersonal and communication skills
Applicants should indicate on the CV their current/last salary and whether they are persons living with disability. They should post or email as attachments their CV and cover letter quoting the relevant Job Ref No. outlining how they meet requirements for the position to: -The Human Resource ManagerKenya Reinsurance Corporation LimitedP. O Box 30271, 00100 GPO NAIROBIE-mail: hr@kenyare.co.ke Closing Date: 27th November 2024
Apply via :
hr@kenyare.co.ke
