Chief Underwriting Officer (Commercial Insurance)

Placements24; Rustenburg; On-site; ZAR 3,000,000 - 5,200,000; Full time

Benefits offered by this job

Executive compensation package

Annual bonus and long-term incentives

Medical aid and retirement benefits

Job summary

Placements24 is seeking a visionary Chief Underwriting Officer (CUO) to lead underwriting for a major commercial insurer in Rustenburg, North West. The role sets strategic direction, develops robust guidelines, and drives profitability through pricing and risk frameworks.

The CUO will build and mentor high-performing underwriting teams, oversee pricing strategies across lines, and partner with claims and actuarial teams to deliver a competitive, well-managed portfolio.

Qualifications

• Requires a Bachelor's degree in business-related field and professional designation preferred (ACII).
• 10–15 years in commercial underwriting with at least 5 years in a senior leadership role.
• Proven ability to develop and implement underwriting strategies that drive profitable growth.

Responsibilities

• Develop and execute the overall underwriting strategy for the commercial insurance division.
• Establish underwriting policies, risk appetite frameworks and pricing structures.
• Lead and develop senior underwriters and underwriting managers.
• Monitor performance metrics and implement corrective actions.
• Collaborate with claims, actuarial and product teams to ensure cohesive offerings.
• Represent underwriting in broker, client, regulator and industry meetings.
• Drive data-driven decision making and leverage technology to enhance efficiency.
• Ensure compliance with insurance regulations and company policies.

Skills

Leadership

Strategic thinking

Underwriting expertise

Financial analysis

Communication

Negotiation

Presentation skills

Data analytics

Team development

Relocation readiness

Education

Bachelor's degree in Business Administration, Finance, Economics, Insurance

MBA or ACII designation (advantageous)

Job description

About the Role

Our client, a leading and rapidly expanding commercial insurance provider, is actively seeking a visionary Chief Underwriting Officer (CUO) to lead their underwriting operations based in Rustenburg, North West. This executive-level position is responsible for setting the strategic direction and operational execution of all underwriting activities. The CUO will drive profitable growth by developing and implementing robust underwriting guidelines, risk appetite frameworks, and pricing strategies. This is a crucial leadership role demanding extensive experience in commercial insurance underwriting, a deep understanding of market dynamics, and exceptional strategic thinking. The ideal candidate will possess a proven track record of building and managing high-performing underwriting teams and ensuring consistent profitability in a competitive landscape. You will be instrumental in shaping the future of our client's commercial insurance portfolio and ensuring its sustained success.

Key Responsibilities

• Develop and execute the overall underwriting strategy and vision for the commercial insurance division in line with the company's objectives.
• Establish and maintain underwriting policies, guidelines, and risk appetite frameworks to ensure profitable business acquisition.
• Oversee the pricing strategies and rating structures for all commercial insurance products, ensuring competitiveness and adequacy of premiums.
• Lead, mentor, and develop a team of senior underwriters and underwriting managers, fostering a culture of excellence and continuous improvement.
• Monitor underwriting performance metrics, identifying trends, and implementing corrective actions as necessary.
• Collaborate with claims, actuarial, and product development teams to ensure a cohesive and profitable product offering.
• Represent the company's underwriting function in meetings with brokers, clients, regulators, and industry bodies.
• Drive innovation in underwriting practices and leverage data analytics and technology to enhance decision-making and efficiency.
• Ensure compliance with all relevant insurance regulations and company policies.

Requirements

• A Bachelor's degree in Business Administration, Finance, Economics, Insurance, or a related field; an MBA or relevant professional designation (e.g., ACII) is highly advantageous.
• A minimum of 10-15 years of progressive experience in commercial insurance underwriting, with at least 5 years in a senior leadership role (e.g., Head of Underwriting, CUO).
• Demonstrated expertise in underwriting various lines of commercial insurance (e.g., property, casualty, specialty lines).
• Proven ability to develop and implement successful underwriting strategies that drive profitable growth.
• Strong understanding of risk management, financial analysis, and market dynamics within the insurance industry.
• Exceptional leadership, team-building, and people management skills.
• Excellent communication, negotiation, and presentation skills, with the ability to influence stakeholders at all levels.
• Strategic mindset with strong analytical and decision-making capabilities.
• Resides in or is willing to relocate to Rustenburg, North West, and understands the local market dynamics.

Benefits

Our client offers a highly competitive executive compensation package, including a significant base salary, substantial annual bonus, long-term incentive plans, comprehensive medical aid, and retirement benefits. This role provides a unique opportunity for strategic impact and career advancement within a leading organization. The company fosters a professional and growth-oriented work environment in Rustenburg, North West.