Assistant Manager, Life Underwriting / Business Development at FBS Reinsurance Limited

FBS Reinsurance Limited (FBS Re) was incorporated as a Private Limited Liability Company under Nigerian Corporate Law on 1st August, 2016 with an Authorised Share Capital of N12,000,000,000.00 made up of 12,000,000,000 Ordinary Shares of N1.00 each fully Paid-Up with an immediate plan to increase the authorised and paid-up to N20,000,000,000.00 in line with the Nigerian National Insurance Commission’s (NAICOM’s) new recapitalisation thresholds.

We are recruiting to fill the position below:

Job Title: Assistant Manager, Life Underwriting / Business Development

Location: Ikoyi, Lagos
Employment Type: Full-time

Job Summary

• As Assistant Manager in Life Underwriting and Business Development, you will support FBS Re’s mission to position the company as a customer-centric partner.
• This role involves actively managing client portfolios, responding to client needs, promoting transparency in operations, and ensuring efficient underwriting and marketing processes.

Roles and Responsibilities
Underwriting Functions:

• Review client reinsurance proposals and business offers; assess terms and pricing against actuarial standards and FBS Re guidelines.
• Prepare and review reinsurance contract terms and conditions, adhering to best practices and FBS Re’s standard wordings.
• Monitor and evaluate the profitability and performance of client portfolios, implementing corrective actions as needed.
• Record all business transactions (accepted, declined, or offered) in the Synergy 2 system.
• Maintain proactive client engagement by managing timely renewal lists and optimizing participation based on risk performance.
• Ensure top debtor balances remain within a maximum of 15% of total collectable debt.
• Prepare cover notes and treaty wordings using FBS Re’s standard documentation.
• Document new and renewed business transactions in compliance with office procedures and maintain accurate records of all offers received.

Business Development Functions:

• Position FBS Re as a customer-centric partner by providing excellent customer service to build and maintain positive client relationships
• Collaborate across departments to resolve client issues promptly.
• Analyze client portfolios to assess growth potential, profitability, and market share.
• Gather and communicate market feedback on FBS Re’s performance.
• Collaborate with Finance and Credit Control teams to expedite premium collection.
• Convert leads and prospects into clients and develop client relationships; ensure comprehensive coverage and maintain accurate sales data to achieve sales targets; monitor competitor activity for market share growth.
• Provide excellent customer service to build and maintain positive client relationships
• Undertake other duties as assigned by the Supervisor or Management to support team goals.

Education and Experience

• Bachelor’s Degree in Insurance, Business Administration, or related field.
• Preferred Professional Qualification ACII. Other qualifications are additional.
• Minimum of 7 years experience in underwriting or marketing, with a focus on life insurance or reinsurance.

Required Capabilities:

• Strong analytical skills with the ability to assess client portfolios and financial data.
• Proficiency in reinsurance pricing and underwriting software (e.g., Synergy 2).
• Excellent interpersonal and communication skills to foster client and departmental relationships.
• High attention to detail, with strong organizational skills.
• Ability to work collaboratively across teams and departments.

Application Closing Date
21st November, 2024.

How to Apply
Interested and qualified candidates should send their CV to: vacancies@fbsre.ng using the Job Title as the subject of the mail.