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Senior Underwriting Officer

African Reinsurance Corporation

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Location:
Nigeria , Lagos

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Category:
Insurance

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Contract Type:
Employment contract

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Salary:

Not provided
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Job Responsibility:

  • Reviewing and underwriting individual risks for designated markets/clients, with recommendations to supervisor, in line with the Corporation’s underwriting guidelines
  • Growing of premiums from the designated markets/clients – top and bottom-line growth
  • Pricing of risks and preparation of quotations to cedants/brokers
  • Preparation (and presentation during WARO monthly meetings) of unit’s performance reports(monthly/quarterly) or other from Business Objects reporting module
  • Accurate processing of premiums in SICS reinsurance system
  • Maintenance of online facultative business documents file register
  • Assistance in negotiation of facultative business contract terms/conditions with brokers/clients and making recommendations for supervisor approval
  • Building strategic partnerships with key brokers/retrocessionares/cedants for placement of special and mega risks
  • Conducting marketing activities for designated markets/clients to build client relationships and source for new businesses as well as maintaining reports
  • Preparation of renewal notices for facultative businesses and forwarding the same to cedants/brokers to achieve a 99% renewal retention for existing businesses
  • Assisting the finance team on reconciliation issues of cedants/brokers and chasing for outstanding balances whilst also ensuring timely remittance of amount due to them
  • Chasing for statements for closed businesses and ensuring the outstanding closings report is updated for future follow up
  • Manage and ensure risks are within the corporation’s underwriting capacity and liaising / retroceding risks that exceed the capacity to A rated securities for top line growth
  • Timely and accurate processing of Retro premiums and ensuring that finance remits them on time to the Retrocessionaires or brokers
  • Prompt response to customer requests per recommended turnaround times in the internal Service Level Agreements
  • Ensuring all the special treaties/facultative contracts are processed in the SICs reinsurance system and the cover notes/slips/wordings are signed timeously and sent out to cedants and brokers
  • Training of clients and subordinates to build competencies
  • Carrying out any other roles assigned on ad-hoc basis within the regional office

Requirements:

  • Strong technical knowledge and experience in all the classes of non-life insurance business (underwriting)
  • Competencies in Underwriting of Energy, Oil, Gas and Aviation classes of business is paramount
  • Good knowledge and exposure to insurance and reinsurance markets
  • Practical knowledge of all types of reinsurance treaty and facultative arrangements
  • Very good knowledge of facultative business contract wordings and clauses
  • Stakeholder management skills particularly with key re/insurance partners such as reinsurance brokers and retrocessionaires
  • In-depth knowledge of appropriate insurance and reinsurance principles practices and laws as applicable to different lines of business
  • Strong analytical skills
  • Excellent oral and written communication
  • Capacity for analyzing, synthesizing and reasoning
  • Negotiation and presentation skills
  • Problem-solving abilities with strong decision-making capability
  • Keen attention to detail with an ability to retain strategic direction
  • Ability to work with tight deadlines and handle volumes efficiently
  • Ability to work without close supervision and within established timeframes
  • Good use of MS Office applications (Word, Excel, PowerPoint, and Outlook) and knowledge of integrated business-related software will be an added advantage
  • Practical knowledge of SICs reinsurance management system will be an added advantage
  • Ability to train subordinates
  • Bachelor’s Degree or Equivalent in Insurance/Engineering or /relevant field
  • Minimum of 8 years of relevant practical work experience in Non - Life Underwriting department (specifically underwriting of special classes – Energy, Oil, Gas & Aviation in addition to the traditional classes of insurance) or Reinsurance in the Insurance and/or Reinsurance industry
  • Professional qualifications in insurance will be an added advantage
  • Relevant Working Exposure in a Multicultural Environment will also be an added advantage
  • Fluent in English and/or French and having a working knowledge in the second language shall be an added advantage
  • Applicants must also be Nationals of member States of Africa Re

Nice to have:

  • Professional qualifications in insurance
  • Relevant Working Exposure in a Multicultural Environment
  • Practical knowledge of SICs reinsurance management system
  • Knowledge of integrated business-related software
  • Working knowledge in French or English (the second language)
What we offer:
  • Competitive Basic Salary on the Corporation’s Support 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's Education Subsidy for each child up to 26 years (maximum 4 children)
  • Medical Cover for staff and family
  • Housing Allowance
  • Dependency Allowance
  • Transport Allowance
  • Inflation Adjustment (Cost of Living Allowance), which may increase or decrease depending on the economic situation, is paid in local currency

Additional Information:

Job Posted:
May 25, 2026

Expiration:
June 12, 2026

Employment Type:
Fulltime
Work Type:
On-site work
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