Underwriter - Specialty Business

About the role

Old Mutual is hiring an Underwriter for its Specialty Business line in Nairobi. The role contributes to the sustainable growth of the Specialty portfolio through business retention, cross-selling and proactive engagement with intermediaries, while performing back-office underwriting tasks in line with company policies and regulatory requirements.

Key responsibilities

• Underwrite specialized risks across financial lines, bonds, trade credit and kidnap and ransom, structuring competitive, customized solutions and placing risks with the approved reinsurance panel
• Analyze the performance of the specialty portfolio and monitor industry trends, regulatory developments and emerging risks
• Collaborate with intermediaries and reinsurers to develop new products and obtain facultative reinsurance for risks beyond treaty limits
• Prepare quotations, provide daily client and intermediary support, and follow up with the Insurance Regulatory Authority for approvals where needed
• Sourcing business and training stakeholders to meet production targets, and ensuring bonds are cancelled on time
• Capture documentation such as premium obligations and submit periodic and monthly reports to management
• Ensure adherence to AML, sanctions and compliance policies, including KYC, ongoing due diligence and escalation of suspicious activity to the Risk and Compliance Office

Required profile

• 1st degree in AIIK or ACII or an equivalent qualification
• 3 years' experience in underwriting specialized classes
• In-depth knowledge of specialty business operations, regulatory requirements and industry developments
• Preferred: additional certifications in insurance or reinsurance management and operations

Required skills

• Strong understanding of underwriting principles and insurance products
• Strategic thinking, communication, problem-solving, organization and adaptability
• Ability to make sound underwriting decisions and manage multiple submissions within strict timelines