Reinsurance Officer at Coronation Insurance Plc

Job Title: Reinsurance Officer

Principal Duties and Responsibilities
Reinsurance Strategy:

• Direct the design, development and implementation of reinsurance programs and products through collaboration with internal business units (investment finance/management, actuaries) and external reinsurance organizations.
• Plan the company’s reinsurance programme to ensure timely negotiations of both treaty and facultative reinsurance with reinsurers and brokers.

Reinsurance Operations:

• Negotiate and update changes or amendments to treaty and facultative agreements approved by company management.
• Verify a variety of reinsurance accounts and liaises with Finance Department for remittance or reinsurance premiums in accordance with the contract requirements.
• Monitor and implement the department’s annual revenue and expenditure budgets to ensure that reinsurance requirements are adequately funded and control expenditure within budget.
• Verify details of claims on the company and submits them to the reinsurers to ensure that they meet their obligations promptly.

Risk Management:

• Review analysis of the company’s risk portfolios presented by primary underwriters and determine risks retention levels for the company.
• Establish and implement reinsurance companies risk acceptance criteria for reinsurance treaties.

Stakeholder Management:

• Review working relationships with and competence of the reinsurers and reinsurance brokers advising management on the need to continue the relationships.
• Liaise with the reinsurers and brokers with the view of securing technical assistance in underwriting and claims handling management.

Analysis and Reporting:

• Oversee analysis and reporting of the company’s reinsurance agreements; summarizing errors and provide guidance on settlements made.
• Review research and analysis of reinsurance prices and specifications.
• Analyze and report on reinsurance business financials including loss trends by treaty and facultative placements
• Review and recognize gaps in the quarterly settlement process and propose solutions to improve the process and controls.
• Preparation of reporting reflecting all reviews and findings specific to the review of Coronation ceded reinsurance that directly impacts the net settlement.

Business Development:

• Market and accept inward reinsurance business for the company and secures the appropriate reinsurance protection for the business.

Technical Leadership:

• Serve on reinsurance project as team lead during all phases to include: configuration, conversion, migration, balancing, and testing.
• Reinsurance team lead on issues relating to due diligence and potential onboarding of new claim books with reinsurance attachments.

People Management:

• Recommend learning and development programmes required to build the capabilities of employees within the unit to ensure effective and efficient service delivery.

Minimum Qualifications

• Bachelor’s Degree in Insurance, Finance, Accounting or any related discipline.
• Master’s Degree in Insurance or related discipline would be an added advantage.
• Professional certification such as CIIN, ACCA, ICAN or relevant qualification.
• Minimum of 5-7 years relevant experience in insurance industry.

Competency and Skill Requirements:

• Strong Business Acumen.
• Excellent understanding of the local and global financial services industry.
• Excellent understanding of trends and recent developments in insurance industry.
• Extensive knowledge of MS Office tools.
• Excellent problem-solving skills.
• Strong strategic orientation, creativity and innovation.
• Strong stakeholder management skills.
• Exceptional communication skills – written, oral, interpersonal, and business presentation skills and the ability to effectively interface with senior management, and staff.
• Demonstrated commitment to ethical standards and high level of integrity.
• Strong risk management skills.
• Strong understanding of insurance principles and practices.
• Strong understanding of legal obligations and regulatory compliance.
• Strong leadership and people management skills.
• Strong finance and accounting skills.
• Strong knowledge of IFRS.
• Strong knowledge of Reinsurance.

Application Instructions:

The application deadline is 20th August, 2025. Therefore, qualified and interested candidates should send their updated Resume to: [email protected] using the Job Title as the subject of the email.

Note: Only qualified candidates will be contacted. It is important to visit the official website (link found below) for detailed information on how to apply successfully for this vacancy.

Official Job Website : https://coronation.ng/institutional/about-us/coronation-insurance/