Santam Jobs – Head: Reinsurance Underwriting

Website Santam Insurance

Job Description:

The Head: Reinsurance Underwriting, Deputy Head: Reinsurance Underwriting, together with the Underwriting Committee sets the strategy for the Business Unit’s growth, direction and profitability. Whilst the Underwriting Committee is important in making contributions to the overall direction of the business, the CUO is tasked with its development, execution and the fine tuning and adjustments that are part of any business activity.

The underwriting done in SRe is only of a Treaty nature, but a good understanding of original insurance practice and policy wordings will be of considerable advantage.
Santam Re underwriters are responsible for marketing, underwriting, pricing analysis and assessment of all offers. It is therefore crucial that a good grasp of statistical methods and analytical tools is possessed by applying candidates.

Job Responsibilities:

  • Develop a growing portfolio of business which produces an underwriting margin of 10%+
  • Grow the portfolio of business as to its diversity and non-correlation
  • Protect and enhance the reputation of Santam Re within the markets in which it operates
  • Grow and develop the staff, such that their capabilities are well respected in the markets in which they operate.
  • Have a good and comprehensive insight into the analytics of the portfolio, and to make sure that the analytic insight is consistently improving

Job Requirements:

  • Preferably have an actuarial qualification or is working towards one.
  • 7-10 years of TREATY reinsurance experience.
  • A track record of developing business.
  • Can work with and build a team of highly competent underwriters.
  • Sound experience in articulating direction and plan for how the business will look in the next 3-5 years.
  • Solid experience in training and developing younger trainee underwriters.
  • They have a capacity to cope emotionally with the vagaries of volatile reinsurance results.
  • The successful candidate will display an aptitude and competence in the under mentioned disciplines
    • Treaty reinsurance programs. The individual will be able to immediately understand presented treaty offers and understand how these integrate with other treaties in a program. They will be able to assess where the exposures, obvious and not so obvious, lie for the reinsurer.
    • A sound grasp of understanding statistics, trends and “what-if’ scenarios will be important.
    • A thorough understanding of intention of cover, and the actual scope of cover as defined in the wording must be appreciated. What is intended and what are described in contracts are not always the same.
    • Increasing governance requirements both internally and externally requires
      that the successful person has a sound grasp of good governance and is committed to good governance in the everyday practice of the business.
    • The capability to market and engage with brokers, our main source of business, is important. Speed and quality of service is an important component in the ’competitive’ environment in which we as a small reinsurer operate.
    • The importance of using and developing technology to minimize administrative processes and to improve the speed and accuracy of administration is crucial.
    • A solid understanding of reinsurance accounting and the movement of reserves is important.
    • Most importantly the successful candidate will be people centric and will have a strong understanding of the importance of team, and of motivating those with whom they are working.
  • Outstanding influencing & negotiating skills, influence thinking at an executive & senior management level
  • Excellent decision making & organising skills
  • Persuasive with excellent oral & written communication skills: concise, impactful and appropriate with good track record
  • Strategic thinker who can also work at detail level
  • Ability to understand and interpret business strategy from definition into execution;
  • Teamwork; build relationships; credible consulting skills

Job Details:

Company: Santam Insurance

Vacancy Type:  Full Time

Job Location: Tygervalley

Application Deadline: N/A

Apply Here