Principal Officer

Principal Officer (Insurance & Reinsurance Brokerage Company)

Location:
Nairobi, Kenya

Reports To:
Management

Role Overview

Our client is looking for a Principal Officer that will lead and manage their insurance and reinsurance brokerage's operations, ensuring compliance with the Insurance Regulatory Authority (IRA) of Kenya and other applicable laws. This role combines strategic leadership, regulatory governance, technical insurance expertise, and business development. The successful candidate will be responsible for ensuring operational excellence, financial performance, and sustainable growth while upholding high ethical and professional standards.

Key Responsibilities

Strategic Leadership and Operations

• Provide strategic direction and oversight for all insurance and reinsurance broking activities.

• Develop and execute business plans that support growth, innovation, and market expansion.

• Lead, coach, and develop high-performing teams to deliver service excellence.

• Oversee client servicing, claims management, underwriting support, and placement of reinsurance business.

Regulatory and Compliance Oversight

• Serve as the principal liaison with the Insurance Regulatory Authority (IRA) and other statutory bodies.

• Ensure full compliance with the Insurance Act, IRA guidelines, and other applicable regulations.

• Maintain proper documentation and reporting in line with IRA and internal governance requirements.

• Oversee compliance with data protection, and corporate governance standards.

Technical and Risk Management

• Provide technical guidance on placement of insurance and reinsurance programs.

• Assess client risk profiles and design optimal risk transfer solutions.

• Ensure the brokerage partners with secure and reputable insurers and reinsurers.

• Support the development of innovative insurance and reinsurance products and solutions.

Business Development and Relationship Management

• Identify and develop new business opportunities in both domestic and regional markets.

• Maintain and grow relationships with key clients, insurers, reinsurers, and other business partners.

• Oversee marketing, sales, and client retention strategies to achieve business targets.

• Represent the brokerage at industry forums, professional events, and regulatory meetings.

Governance and Reporting

• Prepare periodic performance reports for management

• Ensure transparency, accountability, and adherence to professional and ethical standards.

• Oversee budgeting, cost management, and financial sustainability of the brokerage.

Minimum Qualifications and Experience

• Bachelor's degree in Insurance, Risk Management, Business Administration, Finance, or a related field.

• Certificate of Proficiency (COI) in Insurance – mandatory requirement under IRA regulations.

• Professional qualifications such as AIIK (Associate of the Insurance Institute of Kenya), ACII (Chartered Insurance Institute, UK), or an equivalent recognized insurance qualification are strongly preferred.

• Minimum of 7 years of progressive experience in insurance or reinsurance, including at least 3 years in a senior management or Head of Department role within a brokerage, insurer, or reinsurer.

• Proven experience in reinsurance placement, broking operations, compliance, and client relationship management.

• Thorough understanding of the Kenyan insurance regulatory framework and IRA compliance standards.

Key Competencies and Attributes

• Strong leadership, decision-making, and strategic thinking abilities.

• Deep technical knowledge of insurance and reinsurance products, markets, and operations.

• Excellent interpersonal, communication, and stakeholder engagement skills.

• Demonstrated integrity, professionalism, and sound judgment.

• Analytical mindset with strong financial and business acumen.

• Proficiency in Microsoft 365 suite and familiarity with insurance management systems.

Application Process

Qualified candidates are invited to submit their CV and a cover letter outlining relevant experience, regulatory qualifications, and leadership achievements. Only shortlisted candidates will be contacted.

Compliance Note:
Under IRA Kenya guidelines, all Principal Officers of licensed insurance and reinsurance brokers must possess a Certificate of Proficiency (COI) or higher recognized insurance qualification and demonstrate appropriate experience and integrity to hold the position.