Assistant Underwriting Officer (Life)

The African Reinsurance Corporation (Africa Re)

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The African Reinsurance Corporation (Africa Re) is a pan-African financial institution with diplomatic status in its current 41 African member countries. Headquartered in Lagos (Nigeria), Africa Re is the leading reinsurance company in Africa and the Middle East, with continental network of regional and local offices in Lagos (Nigeria), Casablanca (Morocco), Nairobi (Kenya), Abidjan (Cote d’Ivoire), Ebene (Mauritius), Cairo (Egypt) and Addis Ababa (Ethiopia) as well as two subsidiaries: Africa Re (South Africa) Ltd in Johannesburg and Africa Retakaful Ltd in Cairo (Egypt). The Corporation shareholding is split between African (75%) and Non-African (25%) investors. African shareholding comprises 41 African states, the AfDB and more than 100 African insurance/reinsurance companies from the 41 member countries.

 

 

Responsibilities:

 

  • Providing necessary technical support to the Life Underwriting Unit (West Africa) in ensuring the effective performance of the Unit.
  • Duties/Job Details
  • Assist the Life Underwriting Unit in coordinating activities of the Unit.
  • Manage Policy cessions in the Life Administration System.
  • Manage Life Reinsurance Contract details in the Reinsurance System.
  • Assist the Life Underwriting Unit in marketing activities and client relationship.
  • Renewal of contracts in the RMS
  • Data processing and management in the Life Reassurance Administration System
  • Assist the Life Underwriter in the assessment of medical reports from cedants up to a certain limit of sum assured.
  • Recording, verifying and processing statements received from cedants including premium closings, quarterly accounts, excess of loss premiums, etc.
  • Preparing renewal notices for facultative businesses and forwarding same to cedants upon approval of the Life Underwriter
  • Preparing monthly statistics on request by the Underwriter and/or the Regional Director
  • Any other duties as may be assigned by the Life Underwriter or management.
  • Main Competencies Required for this Position
  • Good skill in business software tools: Microsoft Excel and Word.
  • Basic Knowledge of Life Assurance.
  • Knowledge of Health Insurance Laws and Regulations
  • Adequate knowledge of some actuarial concepts such as the present values of a series of payments, compound interest and amortization schedule.
  • Good command of both written and spoken English.
  • Proficiency in French language shall be an added advantage.
  • Excellent IT skills in MS Office (Word, Excel, PowerPoint, and Outlook) are required;
  • Good knowledge of reinsurance and retrocession.
  • Good supervision and reporting skills

 

 

Qualifications and Professional Experience

 

  • First University degree in relevant fields plus 3 years post qualification relevant qualitative work-related experience with emphasis in a relevant discipline preferably in Insurance/Reinsurance.
  • Relevant work experience in a Reinsurance Company or Reinsurance and/or Reinsurance Department of an Insurance Company is an added advantage.
  • Applicants must also be:
  • Nationals of member States of Africa Re;
  • Not more than 28 years old.
  • Fluent in the English Language. However, a basic knowledge of French language would be an added advantage;

 

Salary and Benefits

  • The successful candidate shall have the following benefits:
  • Competitive Basic Salary on the Corporation’s Grade Level SS2 
  • Variable pay (Annual Performance Bonus)
  • Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the employer)
  • Children education subsidy for each child up to 26 years (maximum 4 children)
  • Medical cover for staff and recognized dependents;
  • Housing Allowance
  • Transport Allowance

 

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Summary

Company

The African Reinsurance Corporation (Africa Re)

Job Level

Experienced (Non-Manager)

Location

Lagos

Specialization

Banking / Finance / Insurance

Job Type

Full-Time

Minimum Qualification

Degree

Preferred Years of Experience

3 - 5 years

Application Deadline

Thursday