Agriculture Underwriter at the African Reinsurance Corporation (Africa Re)

The African Reinsurance Corporation (Africa Re) is the leading pan-African reinsurance company and the largest re-insurer in Africa. Headquartered in Lagos (Nigeria), Africa Re operates through six (6) Regional Offices across Africa: Casablanca (Morocco), Abidjan (Côte d’Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Port Louis (Mauritius) and one (1) Contact Office in Addis Ababa (Ethiopia). It also has three (3) Subsidiary Companies (Africa Re South Africa Limited in Johannesburg (South Africa), Africa Retakaful) in Johannesburg (South Africa) in Cairo (Egypt) and Africa Re Underwriting Agency in Dubai (UAE).

Africa Re has a broad-based shareholding of 41 African member States; the African Development Bank; 114 African insurance and reinsurance companies; and four (4) non regional shareholders, including leading global insurers, reinsurers and international finance institutions. The Financial Strength and Credit Rating of Africa Re is A by A.M. Best Company and A– Standard & Poor’s.

Africa-Re announces the vacancy of the position of Agriculture Underwriter in her Lagos Regional Office on the Professional grade level.

We are recruiting to fill the position below:

Job Title: Agriculture Underwriter

Location: Lagos, Nigeria

Responsibilities

• Reporting directly to the Regional Director for West Africa Region, the Agriculture Underwriter will supervise the implementation of initiatives designed to ensure that the Corporation achieves its strategy of becoming a leading reinsurer supporting the growth of Agriculture insurance in the African continent.

Duties / Job Details
The duties of the Agriculture Underwriter comprise amongst others:

• Development and marketing of Agriculture re/insurance business to support the Corporation’s product diversification strategy
• Implement initiatives designed to ensure that the Corporation achieves its strategy of becoming a leading reinsurer supporting the growth of Agriculture insurance in the African continent
• Provide assistance to cedants/client by supporting them to develop viable strategies necessary for growing and up-scaling agriculture insurance in assigned markets.
• Carry out field risk surveys to support the growth of agriculture insurance business through the adoption of advised modern risk management techniques and best farming practices.
• Provide training and technical assistance to cedants/clients and internal staff in relation to agriculture Insurance.
• Perform and develop detailed risk analysis of agriculture insurance portfolios in accordance with Africa Re set technical guidelines
• Develop and grow micro insurance products.
• Analyze underlying insurance portfolios and reinsurance proposals
• Develop market knowledge in agriculture insurance, analyze/evaluate market information and gather and document in-depth understanding of the agriculture insurance in the markets under supervision.
• 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.
• Preparing renewal and new business quotation proposals to cedants and brokers.
• Maintaining proper records of all business offers and transactions received and concluded
• Attending to client correspondence, social and business functions, and other related activities for overall marketing effectiveness.
• Reviewing facultative acceptances regularly ahead of renewal and reviewing treaty acceptances annually ahead of renewal.
• Ensuring that all the treaties and facultative contracts are processed and the cover notes/slips/wordings signed and sent out to cedants or brokers.
• Monitoring the profitability of markets serviced and monitoring progress towards the achievement of income targets in the assigned markets
• Paying market visits regularly for new businesses and for the renewal of existing business as well as for 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
• Ensuring all claims reports, cash calls request and other claims supporting documentation are timely processed for a prompt settlement of genuine claims
• Assisting if necessary, Finance & Technical accounts in reviewing the reconciliation of cedants’ and brokers’ accounts
• Recovering outstanding amounts due from cedants and brokers while also ensuring timely remittance of amounts due to them.
• Attending to other duties as may be assigned by the Corporation or Management from time to time.

Others:

• Team player, strong communication, negotiation and training skills.
• Proactive & innovative mind-set.
• Cross cultural and cross functional skills.
• Proven managerial skills/experience
• Good planning and reporting skills.
• Capacity for analyzing, synthesizing and reasoning
• Good supervisory skills.
• Ability to quickly build very good and sustainable relationship with cedants
• Integrity and proven sense of responsibility
• Ability to work under pressure
• Able to work in an international environment.
• Excellent computer skills required in Microsoft Office (Word, Excel, PowerPoint, etc.)
• Practical knowledge of a reinsurance-related software will be an added advantage

Academic Qualifications
Applicants shall be holders of:

• University degree plus Masters in Agriculture/ Agribusiness Management/ Agric Economics/Horticulture or any Agricultural related discipline, and a minimum of 5 years transferable work experience with emphasis on Agriculture Insurance/reinsurance underwriting (both Treaty and Facultative); reinsurance pricing; claims management, risk survey and assessment of agricultural insurance.

Or

• University degree in Agriculture/ Agribusiness Management/ Agric Economics/ Horticulture or any Agricultural related discipline, with completed & relevant professional qualification(s), plus a minimum of 5 years’ transferable work experience with emphasis on Agriculture Insurance/reinsurance underwriting (both Treaty and Facultative); reinsurance pricing; claims management, risk survey and assessment of agricultural insurance

Or

• University degree in Agriculture/ Agribusiness Management/ Agric Economics/ Horticulture or any Agricultural related discipline plus a minimum of 10 years post qualification, relevant experience with emphasis on Agriculture Insurance/reinsurance underwriting (both Treaty and Facultative); reinsurance pricing; claims management, risk survey and assessment of agricultural insurance
• In General, relevant professional qualifications will be added advantage.

Salary & Benefits
The successful candidate shall have the following benefits:

• Competitive Basic Salary
• Variable pay (Annual Performance Bonus)
• Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the employer)
• Housing Allowance;
• Medical cover for staff and family;
• Home leave to country of origin every one (1) year paid by the employer – if Non- Nigerian National;
• Children education subsidy for each child up to 26 years (maximum 4 children)
• Duty Post Differential (Cost of Living Allowance), that may increase or decrease depending on the economic situation and result of surveys.

Additional Requirements
Applicants must also be:

• Fluent in English language
• Working knowledge of French will be an added advantage.
• Candidates must not be more than 45 years old

Application Closing Date
21st May, 2021.