The African Reinsurance Corporation (Africa Re) is the leading Pan-African reinsurance company and the largest re-insurer in Africa with the Financial Strength and Credit Rating of Africa Re is “A” by A.M. Best and “A – “by Standard & Poor’s.
Headquartered in Lagos (Nigeria) since its inception in 1976, Africa Re operates through
a) Six (6) Regional Offices across Africa: Casablanca (Morocco), Abidjan (Côte d’Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Port Louis (Mauritius),
b) One (1) Contact Office in Addis Ababa (Ethiopia),
c) Three (3) Subsidiary Companies (Africa Re South Africa Limited in Johannesburg, South Africa), Africa Retakaful Company Ltd. in Cairo (Egypt) and Africa Re Underwriting Agency in Dubai (UAE).
Africa Re has a broad-based shareholding of;
• 42 African member States,
• the African Development Bank,
• 113 African insurance and reinsurance companies, and
• three (3) non regional shareholders, including leading global insurers, reinsurers and international finance institutions.
Africa-Re hereby announces the vacancy for the position of an Assistant Underwriting Officer to be based in the Mauritius Regional Office, Ebene - Mauritius.
The successful candidate will provide support to the Underwriting function of the Regional office, within the group’s overall policy & guidelines and consistent with the highest standards of client service. The job holder shall report to the Assistant Director – Underwriting & Marketing.
The incumbent will carry out the following functions:
• Receiving, assessing and onboarding new business partners, including cedent and broker relationships, and assuring that an adequate KYC process is conducted, consistent with the Corporation’s Compliance guidelines.
• Reviewing and underwriting individual facultative risks for designated markets/clients, and making recommendations to the supervisor, in line with the Corporation’s underwriting guidelines. This involves pricing of risks and preparation of quotations.
• Cultivating and growing a profitable book of facultative business premiums from the designated markets/clients. This involves building relationships with brokers and cedents to negotiate and write new business and ensure a high retention level for renewing accounts. The candidate shall maintain a regularly updated production register of new business generated and/or increased shares.
• Support the underwriters during treaty renewals including review and validation of the completeness of submitted statistics and other information, draft quotations, and other associated tasks as requested by the underwriters.
• Monitoring the business bound by underwriters and assuring that appropriate follow up is conducted to ensure timely receipt of reinsurance slips and premium closings, including the timely settlement of premiums in accordance with premium payment conditions and internal procedures.
• Accurate processing of contracts in the SICS reinsurance administration system and booking any endorsements and/or changes as they occur.
• Regular and timely running of production and various exception reports from the SAP Business Objects (BO) reporting module, and preparation of scheduled Management reports (monthly, quarterly and annual). Compliance with reporting deadlines is paramount.
• Assist the Underwriters to conduct effective marketing activities, including preparation of relevant business development materials, updating the client contact list, monitoring the marketing visit schedule, and other associated logistics. The job holder shall liaise closely with the Underwriting Unit Administrative assistant to ensure that client seminars and training events are effectively planned and executed.
• Proactive and timely preparation of renewal notices for facultative business and forwarding them to the respective cedants/brokers.
• Assisting the finance and technical accounting teams to conduct effective cedent and broker accounts reconciliation exercises, including follow up of any outstanding balances.
• Monitoring the Business Unit’s retrocession activities and assuring that retro contracts and associated retro processes are booked timely in the SICS reinsurance system. This includes a complete understanding of the Corporation’s retrocession administration processes, including scheduled batch orders and retro premium remittance procedures.
• Prompt response to customer requests consistent with established turnaround times and Service Level Agreements (SLAs).
• Assure that business records (reinsurance slips, underwriting information, etc.) are appropriately filed in strict compliance with internal guidelines for keeping of business records, contracts management, archiving and retrieval. The job holder shall ensure that SharePoint business records are well organized, complete and updated.
• Carrying out any other roles assigned by the Supervisor or Underwriters on ad-hoc basis within the regional office
The successful candidate shall be based in Ebene (Mauritius).
• Strong technical knowledge and experience in all the classes of insurance business (underwriting and claims).
• Practical knowledge and experience with most types of reinsurance treaty and facultative arrangements.
• Very good knowledge of proportional and non-proportional treaty contract wordings including the practical application of reinsurance principles and administrative clauses.
• Good knowledge of, and experience in, the insurance and reinsurance markets including important dynamics and practices.
• Excellent stakeholder management particularly with facultative re/insurance market contacts such as brokers and cedants’ Reinsurance officers.
• Strong analytical skills, including good command of MS Office applications such as Word, Excel, Access and PowerPoint. Ability to sort and organize raw data and internal reports for Management decision making.
• Adequate experience in claims management processes including the handling of reinsurance claims recoveries would be an added advantage.
• Excellent oral and written communication, including Negotiation and Presentation skills.
• Capacity for analyzing, synthesizing and reasoning. Keen attention to detail with an ability to retain strategic direction.
• Practical knowledge of the SICS reinsurance management system (a product of DXC Technologies) will be an added advantage.
• Problem-solving abilities with strong decision-making capability.
• Ability to work with tight deadlines and handle volumes efficiently, including working without close supervision and within established timeframes.
• Ability to work in a high performance, diverse and multicultural environment
Applicants shall be holders of:
• University Degree in Economics, Mathematics, Business, Finance, Actuarial science, Engineering or any discipline related to the role.
• Relevant work experience in the underwriting or reinsurance department of a reinsurance company or direct insurance company is an added advantage
• Relevant Professional qualifications (ACII or equivalent) will be a strong advantage.
The successful candidate shall have the following benefits:
• 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 education subsidy for each child up to 26 years (maximum 4 children)
• Medical cover for staff and family.
• Housing Allowance
• Transport Allowance
• Inflation Adjustment that may increase or decrease depending on the economic situation.
Applicants must also be:
• Able to communicate effectively (written and oral) in English Language.
• Working knowledge of French will be an added advantage.
Interested candidates are requested to visit the Africa-Re website at https://www.africa-re.com/career to complete the online employment form.
Candidates may also submit their applications to by email to: admin.mauritius@africa-re.com
Africa-Re is an equal-opportunity employer and offers a good working environment commensurate with international organizations.
The Corporation reserves the right to appoint at the advertised grade level or at any other level that may suit the profile, qualifications, and experience of the successful candidate.
The deadline for submission of interested candidates’ applications shall be March 20, 2025.
