Manager – Reinsurance and Marine, General Insurance Kenya
Location | Nairobi, Kenya |
Date Posted | August 8, 2020 |
Category |
Insurance
Management |
Job Type |
Full-time
|
Currency | KES |
Description
Old Mutual Kenya is based in Nairobi and is part of a larger group that offers solutions in long-term savings, asset management and investment. We offer solutions to individuals and corporates underpinned by our core values which are: Respect, Integrity, Accountability and Pushing beyond boundaries.
Job Summary
Reporting to the Group Underwriting Manager & Reinsurance the incumbent will be responsible for management, administration and control of the reinsurance department to ensure quality and timely service to both internal and external customers.
Key Responsibilities:
- Ensure effective management and administration of Reinsurance programs including technical support to the regional offices on need basis
- Analyze the company’s reinsurance needs; propose a suitable program for the year and assist in negotiating terms with re-insurers so as to ensure capacity to write business costs effectively
- Source for and accept quality and properly rated facultative business to ensure growth of business
- Ensure profitable growth of the Marine cargo & Hull insurances
- Place both new and renewal facultative business with (re)insurance companies to ensure the company is not over-exposed
- Follow-up on GI and Health treaty and facultative recoveries including “cash calls” in order to reduce the claim costs
- Seek authority for the placement of risks overseas from Insurance Regulatory Authority and source for markets to place the risks
- Ensure reinsurance statistics and proposals are correctly prepared for both Insurance Regulatory Authority (IRA) and re-insurers to assist in obtaining treaties
- Preparation of management reports on the department as required to show the status of the department
- Supervise, train, mentor and coach staff to ensure motivation.
- Ensure that premiums due to re-insurers are paid, and monies due to the company are collected
- Ensure timely collection of facultative and marine premium
- Ensure timely and accurate FACULTATIVE AND TREATY CLAIMS RECOVERY – both GI and Medical.
- Facilitate renewal of treaties
- Source terms from quality and approved reinsurers for mega and complex risks that require reinsurance support
- Daily check of booked transactions and ensure all are correctly and accurately ceded/captured in the system and treaty
- Ensure all risks above treaty are properly reinsured, zero exposure
- Monitor and liaise with Underwriting Managers to ensure no excluded risk is accepted
- Liaise with Underwriting managers and ensure policy documents are aligned to the treaties including any treaty changes/terms, system changes
- Train staff on reinsurance treaty and sign-off by staff -every year after renewal
- Ensure Reinsurance strategy is prepared, approved by board and implemented
Qualifications
- 1st Degree
- ACII or equivalent
- 5 years preferably in Reisurance and Marine
Skills and Competencies:
- Good analytical and assessment skills
- Good communication skills
- Knowledge of the political, social and economic landscape
- Diplomatic and tactful
- Honesty and integrity