Senior Reinsurance Underwriter

Santam is the market leader in the general insurance industry in Southern Africa. We are a large, diversified, expanding and transforming company and whilst based in South Africa, we are rapidly moving into a number of emerging markets, both in Africa and Asia. Our success is rooted in our passion for our clients and everything we do is centred on our delivery of Insurance Good and Proper.

What will you do?

Santam Reinsurance has a Senior Reinsurance Underwriter role available. The role reports to the Territorial Lead: Reinsurance Underwriting and will be based at the Santam Head Office in Bellville.

Job Description

The Senior Reinsurance Underwriter will be responsible for underwriting and managing a reinsurance treaty book within one of Santam Reinsurance’s existing geographical regions.

Key Accountabilities and Responsibilities

1. Developing, managing and maintaining a reinsurance treaty book in the chosen territory. This is both a client-facing role and an analytics and accounting role in conjunction with the Pricing team.
2. Building and maintaining reinsurance broker and client relationships for both existing business and potential business.
3. Reviewing pricing and underwriting the reinsurance treaties using a range of actuarial and softer methods wordings.
4. Understanding of contract wordings and able to negotiate on a granular level in compliance with internal guidelines.
5. Detailed meeting capture following market visits.
6. Checking and monitoring accounts, payments and profitability of the book.
7. Drive profitability and growth in the chosen territory according to annual premium volume, profitability and volatility benchmarks.
8. Preparing Underwriting Review for Underwriting Committee.
9. Review and submit endorsements and special acceptances for review and approval.
10. Capturing of information on relevant system.
11. Responsibility for completeness of all required documents and adherence to the Underwriting Guidelines and Standard Operating Procedures.

Qualifications and Experience

Minimum Requirements:

1. Undergraduate degree with a significant numerate component (actuarial, stats, maths, commerce etc.).
2. 5 years of underwriting experience preferably in the short-term (commercial) insurance/reinsurance sectors.
3. Proficient in Microsoft Excel, MS Word and PowerPoint.
4. Willingness to work over the Christmas and Easter Holiday period.
5. Willingness to travel occasionally.

Advantageous Qualifications, Knowledge and Experience:

1. 5 years of reinsurance underwriting experience.
2. Good understanding of reinsurance principles and concepts.
3. An understanding of reinsurance wordings, reinsurance markets and the end-to-end analysis of a reinsurance submission.
4. A strong understanding of insurance and related risks.
5. Reinsurance technical accounting knowledge.
6. Project Management experience.

Skills

1. Excellent verbal and written communication skills.
2. Analytical ability.
3. Advanced numeracy skills.
4. Ability to work independently with limited supervision.
5. High stress tolerance.
6. Ability to work to tight deadlines and under pressure.
7. Strong negotiation skills.
8. Team Player.
9. Ability to work flexible working hours.
10. Must be pro-active and take ownership of tasks.
11. Willingness and desire to learn.
12. Good work ethic.
13. Ability to multi-task.
14. Solid interpersonal and relationship building skills.
15. Good planning and organizing skills.
16. Time management.

Our commitment to transformation

Santam is the market leader in the general insurance industry in Southern Africa. As a large, diversified, and expanding company, we are committed to transformation and growth. While our headquarters are in South Africa, we are rapidly extending our presence into emerging markets across Africa and Asia.

With a client base of over 1 million policyholders, Santam serves individuals, commercial enterprises, specialist business owners, and institutions—including 80 of the Top 100 companies listed on the JSE. Our commitment to Insurance, Good and Proper goes beyond just providing cover—we offer peace of mind, ensuring our clients can focus on living in the moment, not worrying about the unexpected. Because at Santam, we believe the freedom to seize every day is worth protecting.

People drive our business, and we are committed to attracting the best talent, whether for permanent roles or short-term opportunities.

Santam is committed to diversity, inclusion, and belonging. As an equal opportunity employer, we encourage applications from candidates of all backgrounds, including persons with disabilities. We are dedicated to neuro-inclusivity and fostering a workplace where everyone can thrive.

Take the next step in your career—apply now and be part of a company that’s shaping the future of insurance. This is Freedom!

The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.