Senior Underwriter at Kenya Reinsurance Corporation Limited (Kenya Re)

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