Assistant Reinsurance Manager at CIC Insurance

1 month ago

Nairobi, Kenya CIC Insurance Full time

CIC Insurance Group Limited, commonly referred to as CIC Group, is an insurance and investment group that operates mainly in Kenya, Uganda, South Sudan and Malawi

PURPOSE:
To achieve reinsurance business growth and development to generate revenues to support the company’s growth, Improve focus and efficiency on reinsurance, facultative and recoveries from various partners for company growth of revenue and attainment of set budgets.
PRIMARY RESPONSIBILITIES:

Review the risks accepted in the company to ensure that they are within the set reinsurance guidelines and are covered under the reinsurance programme.
Ensure Risk surveys are conducted for major risks and the implementation of improvement/ recommendations provided to minimize risk exposure.
Work closely with system developers to enhance efficiency of system in supporting reinsurance operations.
Supervise Reinsurance Officers & Assistants to ensure proper reinsurance procedures and guidelines are adhered to.
Develop, issue and approve facultative in acceptances as per various Reinsurance Treaties.
Ensuring adherence to company reinsurance practices, policy and guideline as per set guidelines
Responsible for ensuring the reinsurance programmes are arranged within required timelines and is in accordance with the agreed company standards
Ensuring the monthly budget from new business is achieved by marketing and increasing inward reinsurance business from other companies
Ensuring reinsurance treaty payments, renewal and making returns to the relevant authorities
Provision of monthly analysis for the various reinsurance programs and services currently available in the marketplace and administer their use within company
Timely treaty cessions on the underwriting and claims files when they are due
Preparing a monthly premium and claims (paid/ outstanding) summaries from reinsurance
Overseeing reinsurance claims recovery (making provisional loss notification, making cash calls for large claims, and follow up of the payments thereof and recovery of claims on run off)
Ensure Production of quarterly payment returns and annual statements as per deadlines
Ensure timely treaty and facultative claims recoveries and as per the set timelines and set budgets.
Sourcing for Facultative in Business as per the set targets and supporting marketing & Underwriting functions on business growth.
Managing facultative inward and outward business and preparing reconciliations for all businesses
Strict adherence to all regulations, statutes, standards, practices and all internal processes and procedures as per the relevant manuals and comply with all relevant external legislation and regulations with regard to Compliance requirements.

 Academic and Professional Requirements
Education 

Bachelor’s degree in a related field.
Computer literate in MS Office and other office applications
Qualification in relevant professional field – Diploma in Insurance, ACII/AIIK

Experience Required: 

Minimum of five (5) years’ relevant experience in a similar position, two (2) of which at supervisory level    5

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