Overview

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.

Job Position: Assistant Manager, Life Underwriting / Business Development

Job Location: Ikoyi, Lagos

Job Description

  • 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.

Job 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.

Job Requirements

  • 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 Deadline
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.

Tagged as: Business Development, Sales