Head, Reinsurance at International Energy Insurance Plc

International Energy Insurance (IEI) Plc commenced business as Nigeria’s first Energy-focused Insurance Company, experts in first class underwriting solutions for offshore and onshore risks, as well as general insurance business. The Company’s security is backed by a consortium of local and foreign re-insurers led by African Reinsurance Corporation. We are licensed and regulated by the National Insurance Commission (NAICOM).

We are recruiting to fill the position below:

Job Title: Head, Reinsurance

Location: Lagos
Employment Type: Full-time

Duties & Responsibilities
Reinsurance Strategy & Programme Design:

• Develop and implement the Company’s reinsurance strategy in alignment with underwriting philosophy and risk appetite.
• Structure proportional and non-proportional treaties across all relevant lines of business.
• Ensure optimal retention levels balancing profitability, solvency, and capital management objectives.
• Continuously review treaty adequacy based on portfolio performance and claims experience.

Treaty & Facultative Placements:

• Lead negotiation, placement, and renewal of treaty arrangements with local and international reinsurers.
• Coordinate facultative reinsurance placements for large or complex risks.
• Evaluate terms, pricing, security ratings, and capacity of reinsurers.
• Ensure competitive and commercially sound reinsurance protections.

Reinsurance Administration & Compliance:

• Oversee treaty documentation, slip preparation, cover notes, and contractual obligations.
• Ensure compliance with NAICOM regulations, retention rules, and credit risk guidelines.
• Maintain accurate reinsurance records and bordereaux management.
• Coordinate regulatory reporting requirements relating to reinsurance.

Recoveries & Claims Management:

• Oversee reinsurance recoveries and ensure timely collection of amounts due from reinsurers.
• Manage complex recovery negotiations and disputes.
• Monitor ageing analysis of outstanding recoveries.
• Work closely with claims and finance teams to protect cash flow.

Risk & Credit Management:

• Assess reinsurer security and counterparty credit risk exposures.
• Diversify reinsurer panel to mitigate concentration risk.
• Monitor treaty performance and exposures.
• Advise management on emerging risk issues affecting reinsurance structures.

Financial & Portfolio Impact:

• Analyse portfolio performance to optimise retention and cession structures.
• Provide reinsurance cost modelling and profitability analysis.
• Support actuarial, underwriting, and finance functions with risk transfer insights.
• Contribute to capital management and solvency considerations.

Stakeholder & Relationship Management:

• Manage relationships with reinsurers, brokers, and retrocession partners.
• Support underwriting teams on complex risk placement decisions.
• Provide technical guidance on reinsurance implications of new products or large risks.
• Represent the Company in reinsurance negotiations and market engagements.

Reporting & Performance Monitoring:

• Prepare periodic reports on reinsurance placements, recoveries, and exposures.
• Track treaty utilization, facultative placements, and reinsurance costs.
• Provide management with insights on risk retention and reinsurance efficiency.

Qualifications & Training

• Bachelor’s degree in Insurance, Actuarial Science, Finance, Accounting, Economics, or related field.
• Master’s degree (MBA/MSc in Insurance, Risk Management, or Finance) is an added advantage.
• Professional certifications such as: AIIIN, CIIN, ACII, etc.
• Training in reinsurance structures, risk modelling, and insurance analytics.

Skills & Abilities:

• Strong knowledge of reinsurance treaties, facultative placements, and risk transfer mechanisms
• Analytical and numerical skills for risk exposure and portfolio assessment
• Knowledge of underwriting principles and insurance regulations
• Negotiation and communication skills with reinsurers and brokers
• Strong documentation and attention to detail
• Proficiency in Microsoft Excel and reinsurance management systems
• High integrity and confidentiality handling capability

Application Closing Date
20th March, 2026.

How to Apply
Interested and qualified candidates should send their Applications to: recruitment@ieiplcng.com using the Job Title as the subject of the email.