Life Underwriter Cairo – Egypt

Cairo Regional Office
Cairo, Egypt
Closing date for applications 2019-10-31
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Introduction of the Corporation

The African Reinsurance Corporation (Africa Re) is the leading African reinsurance company with headquarters in Lagos (Nigeria). Africa Re has six regional offices: Casablanca (Morocco), Abidjan (Côte d’Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Ebene (Mauritius). The Corporation equally has two subsidiaries: African Reinsurance Corporation South Africa Ltd in Johannesburg (South Africa), Africa Retakaful in Cairo (Egypt) and one Local Office in Addis Ababa (Ethiopia).

Africa Re has a broad-based shareholding comprising 41 African member States, the African Development Bank (AfDB), 114 African insurance and reinsurance companies and three non-regional shareholders, including leading global insurers and reinsurers.

The Financial Strength and Credit Rating of Africa Re is A by A.M. Best and A– by Standard & Poor’s.

Africa Re hereby announces the vacancy of the position of Life Underwriter in her North East Africa and Middle East Regional Office on the Professional Staff Grade level.

Job Details

RESPONSIBILITIES

The successful candidate shall organize and co-ordinate all underwriting activities of the Life Operations (Conventional and Family Takaful Businesses) and manage the life business relationship with all cedants and brokers to achieve profitability, liquidity, business growth and customer satisfaction on a sustainable basis.

DUTIES/JOB DETAILS

The main duties of the Life Underwriter shall comprise, amongst others, the following:

 Marketing contacts with prospective / existing clients with a view to securing new treaties and / or enhancing our shares.

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

 Regularly reviewing facultative and treaty acceptances ahead of renewal.

 Soliciting and receiving treaty 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 policies/guidelines.

 Maintaining proper records of all business offers received and transactions concluded

 Attending to client correspondences, social and business functions as well as other related activities for overall marketing effectiveness.

 Ensuring that all the treaties and facultative contracts are processed and the cover notes signed and sent out to cedants or brokers.

 Monitoring the profitability of markets serviced and progress made towards the achievement of income targets in the assigned markets

 Paying regular market visits for new businesses and the renewal of existing business as well as obtaining market statistics and other relevant information for the Corporation’s strategic and operational use.

 Assist in reviewing and monitoring the proper processing of all technical transactions

 Reviewing all claims along with other claims supporting documentation, and ensuring proper processing and timely settlement of verified cash calls

 Carrying out risk assessment and giving risk improvement recommendations;

 Processing of death claims, lapses and alterations, Following-up on collections of premiums

 Providing training, advice and other forms of technical support to both staff and clients on a regular basis.

 Assisting Finance & Technical accounts in reviewing the reconciliation of cedant and broker accounts and recovering outstanding amounts due from them while also ensuring timely remittance of amounts due to them;

 Participate and provide data / input to the development, implementation and review of strategic, business development, marketing and operational plans as well as budgets for the Region;

 Supervising the cash-matching and reconciliation carried out by the Accounts Officers

 Ensure the timely rendition of all required reports relating to the underwriting and marketing function on clients, for consolidated reporting to the Head Office

 Attending to any other duties as may be assigned by Supervisors and the Corporation’s Management from time to time.

Location

The successful candidate shall be based in Cairo- Egypt.

Main Competencies

MAIN COMPETENCIES REQUIRED FOR THIS POSITION

 Knowledge of Insurance and Reinsurance underwriting, Retrocession, Claims and Risk assessment

 Experience in Life insurance and reinsurance practice

 Exposure to Egypt, Sudan, Middle East and Maghreb Markets (practices and key stakeholders)

 Good knowledge of Life Insurance Products and benefits including family Takaful

 Practical knowledge of a reinsurance-related software and life underwriting software

 Ability to quickly build good and sustainable relationship with the main brokers and cedants

 Analytical, planning and reporting skills

 Proven Managerial skill/experience

 Fluency in English and Arabic languages (spoken & written)

Academic Qualifications

QUALIFICATIONS AND PROFESSIONAL EXPERIENCE

Applicants shall be holders of

 University degree, a relevant Master’s degree and a minimum of 5 years post qualification work experience with emphasis in reinsurance underwriting (treaty and facultative); reinsurance pricing; claims management and risk survey assessment.

Or

 University degree in relevant fields, Professional qualification, and a minimum of 5 years post qualification work experience with emphasis in reinsurance underwriting (treaty and facultative); reinsurance pricing; claims management and risk survey assessment.

Or

 University degree in relevant field and 10 years post qualification work experience with emphasis in reinsurance underwriting (treaty and facultative); reinsurance pricing; claims management and risk survey assessment.

 Relevant work experience in a reputable Insurance/Reinsurance organisation at similar level is required; preferably with exposure to international life products.

 Relevant Professional qualifications will be added advantage

Salary & Benefits

SALARY AND BENEFITS

The successful candidate shall have the following benefits:

 Competitive Basic Salary on the Corporation’s Professional Staff Grade Level

 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 family;

 Housing Allowance

 Home leave to country of origin every year paid by the employer (if non-national) ;

 Duty Post Differential (Cost of Living Allowance), that may increase or decrease depending on the economic situation, paid in local currency.

Additional Requirements

Additional

 Working knowledge of French will be an added advantage.

Procedure for Application

VII. PROCEDURE FOR APPLICATION

Interested candidates for this positions are requested to visit the Africa Re website (http://www.africa-re.com/careers) to complete the employment form and upload their curriculum vitae.

The Company reserves the right to appoint at the advertised level or at any other level that may suit the profile, qualifications and experience of the successful candidate.

Closing date for submission of applications: October 31, 2019.