Reinsurance and P&C Product Specialist

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Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

The Reinsurance and P&C Product Specialist provides specialist reinsurance and Property and Casualty (P&C) specialistise to OMAR markets to enable portfolio-level performance oversight and drive profitable top-line growth. The role strengthens product disciplines through clear guardrails and practical guidance where required, and acts as a connector and orchestrator across markets to share good practice, unlock economies of scale, and identify cross-market themes that improve performance and decision-making. The role further serves as the Reinsurance specialist across P&C and Life with strong relationships with the various reinsurers.

Key Result Areas

Product strategy (cross-market)

• Provide P&C product and reinsurance specialist input into defining and evolving P&C and reinsurance cross-market priorities (for example, portfolio shaping, product set simplification, target segments, and distribution fit).

• Support alignment between product strategy and reinsurance strategy so that product risk profiles, pricing, and reinsurance structures are coherent.

Product governance (pricing standards, guardrails, technical parameters)

• Enable an enterprise portfolio view of P&C and reinsurance performance across markets by defining common performance lenses and ensuring consistent interpretation of results.

• Identify cross-market themes, risks, and value-unlock opportunities (for example, loss ratio and claims drivers, pricing adequacy, expense and commission efficiency, retention, volatility drivers, protection efficiency, and recoveries performance).

• Support cross-market deep dives and translate insights into clear recommendations, prioritised interventions, and tracking of actions.

• Periodically ensure underwriting practices and policy wording are appropriate by contracting relevant specialistise.

Reinsurance specialistise (standards, technical guardrails, oversight)

• Set and maintain reinsurance standards and technical parameters to drive consistency and quality across markets (including expectations for treaty structures, retentions, limits, and counterparty concentration/security considerations).⁠

• Provide specialist review and challenge of reinsurance proposals and treaty renewals for adherence to standards and Group requirements.

• Build strong relationships with reinsurers and negotiate as one group across multiple countries as well as across Life and P&C.

Cross market orchestration and knowledge sharing

• Connect markets to share proven approaches, reusable artefacts, and lessons learned (for example, standard treaty wording elements, claims leakage controls, and pricing governance routines).

• Facilitate cross-market forums or working sessions (as required) to align on themes, priorities, and sequencing of improvements.

• Enable in-country teams (product, underwriting/pricing, actuarial, finance, and risk) to strengthen P&C and reinsurance discipline, decision routines, and performance management.

Performance oversight (portfolio view and value unlock)

• Enable a portfolio view of GI product performance across markets (for example, loss ratio drivers, pricing adequacy, expense / commission efficiency, retention, claims frequency/severity trends, fraud/leakage indicators) in collaboration with the OMAR Finance team.

• Enable a portfolio view of reinsurance performance across markets (for example, ceded versus net performance, volatility reduction, protection efficiency, claims recoveries, disputes/leakage, reinsurer performance, commission structures, and basis risk) in collaboration with the OMAR Finance team.

• Identify and support value-unlock initiatives at the intersection of product and reinsurance (for example, improved retention/limit optimisation, tightening wording/controls, improving recoveries processes, aligning underwriting rules and product terms with reinsurance protections).

Stakeholder management and coordination

• Partner with market product, underwriting, actuarial/pricing, finance, risk, compliance/conduct, claims, and distribution stakeholders to ensure integrated product and reinsurance decision-making.

• Support governance forums with specialist insights, technical escalation support, and clear recommendations.

• Maintain a strategic, enabling role and avoid taking over day-to-day in-country responsibilities, focusing effort on the most material levers that improve portfolio outcomes.

Product sign-off

• Products and perils above certain thresholds need to be reviewed and approved by this role (e.g. performance bonds on oil projects)

Requirements: Skills, Qualifications, Experience required

Skills & Qualifications

• Bachelor’s Degree in Actuarial Science, Mathematics, Statistics, Finance or related quantitative discipline.

• Actuarial qualification.

• Strong technical grounding in GI/P&C and reinsurance is required (actuarial or specialist insurance qualifications are advantageous).

Experience (Required For The Job)

• Significant experience in P&C/GI product, underwriting/pricing, portfolio management, and reinsurance (treaty design/renewals, performance monitoring, recoveries, or broker/reinsurer engagement).

• Experience operating or advising on governance routines, guardrails, and review packs.

• Experience synthesising performance insights and converting them into pragmatic actions that improve profitability, volatility, and sustainability.

• Experience in a multi-market/centre-of-excellence role is advantageous.

Skills & Knowledge

Technical and domain knowledge

• Strong knowledge of P&C value drivers (coverage design, underwriting/risk selection, pricing adequacy, claims dynamics) and how they translate into profitability and growth.

• Strong knowledge of reinsurance structures (for example, quota share, surplus, XoL, stop loss) and the mechanics of protection efficiency, capital/volatility impact, and recoveries.

Analytical and delivery skills

• Ability to interpret portfolio metrics, diagnose root causes, and prioritise the few interventions that shift outcomes.

• Ability to build simple, reusable tools and reporting lenses that scale across markets.

Stakeholder and communication skills

• Ability to influence and align senior stakeholders across markets without direct authority.

• Strong facilitation skills to run cross-market working sessions focused on decisions and actions.

Competencies

• Governance mindset and integrity: Apply standards consistently, prioritizing quality, sustainability, and fair customer outcomes.

• Constructive challenge: Challenges proposals using evidence, while remaining solutions-oriented and pragmatic.

• Collaboration and partnership: Works effectively across countries and functions to embed consistent ways of working.

• Accountability and follow-through: Drives closure on gaps, corrective actions, and agreed improvements identified though monitoring.

• Pragmatism and adaptability: Apply standards consistently while navigating real market constraints and prioritizing the most material risks and value opportunities.

• Commercial and outcomes mindset: Focuses on profitable growth and sustainable performance, not on activities that add little value.

Behavioural Competencies:

• Manages complexity: Making sense of complex, high quantity, and sometimes contradictory information to effectively solve problems.

• Decision quality: Making good and timely decisions that keep the organization moving forward.

• Financial acumen: Interpreting and applying understanding of key financial indicators to make better business decisions

• Balancing stakeholders: Anticipating and balancing the needs of multiple stakeholders.

• Courage: Stepping up to address difficult issues, saying what needs to be said.

Skills

Analytical Thinking, Computer Literacy, Data Compilation, Data Controls, Executing Plans, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Market Analysis, Numerical Aptitude, Risk Management

Competencies

Business Insight

Collaborates

Communicates Effectively

Ensures Accountability

Financial Acumen

Instills Trust

Manages Complexity

Optimizes Work Processes

Education

Bachelor Commerce: Actuarial And Financial Mathematics (Required)

Closing Date

14 May 2026 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

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