About African Reinsurance Corporation ( Africa Re)
The African Reinsurance Corporation (Africa Re) is the leading pan – African Reinsurance Company and the largest re-insurer in Africa and the Middle East in terms of net reinsurance written premiums.
Africa Re was established on 24th February 1976 by 36 member States of the then Organization of African Unity (OAU) and the African Development Bank (AfDB) with the mission of fostering the development of the insurance and reinsurance industry in Africa, promoting the growth of the national, regional and sub-regional underwriting and retention capacities and supporting African economic development.
Africa Re has its headquarters in Nigeria where it started operations in 1978 and in 2018 posted a gross premium income of US$797.4 million and realized a net profit of US$31.2 million. Its shareholders’ funds reached US$917 million while its total assets were US$1,644.6 million.
The Corporation has a subsidiary company in South Africa (African Reinsurance Corporation South Africa), a Retakaful subsidiary in Cairo, a network of six regional offices (Casablanca – Morocco, Nairobi – Kenya, Abidjan – Cote d’Ivoire, Port Louis – Mauritius, Cairo – Egypt and Lagos – Nigeria) and contact offices in Addis Ababa – Ethiopia, Kampala – Uganda, and Khartoum in Sudan.
Ranked 38th in the 2018 Standard & Poor’s Global Reinsurance Groups and 41st of the Top 50 Global Reinsurance Groups by AM Best in 2018, Africa Re has a broad-based shareholding: 41 African member States (33.59%); the African Development Bank (8.42%); 114 African insurance and reinsurance companies (33.84%); and 3 non regional shareholders (23.15%), including leading global insurers and reinsurers from France (AXA), Canada (FAIRFAX) and Germany (ALLIANZ SE).
Aim and Benefits of Africa Re Young Actuarial Professionals Programme
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The monthly allowance attached to this program is attractive and competitive.
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In addition, candidates selected for the program will be entitled to free medical care, Life & Accident Cover and accommodation for the entire duration of the program.
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Africa Re will provide support both in terms of exam fees, study materials and exam study hours toward qualification for a chosen internationally recognized actuarial qualification.
Requirements for Africa Re Young Actuarial Professionals Program Qualification
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Be a National of a Member Country of Africa Re
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Bachelor’s or Master’s Degree in Actuarial Science and other related discipline / field with outstanding academic achievements.
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Applicants must be at least 19 years old and not older than 28 years by the date of this advert
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Applicants are expected to have post qualification relevant work experience of between 0 to 3 years in the Actuarial field. Applicants that have passed one or more actuarial exams from an internationally recognized actuarial or that have continued their actuarial professional development satisfying the required CPD points over a defined period for their chosen internationally recognized actuarial qualification will be given preference.
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Be fluent either in English or French and a working knowledge of the other language will be an added advantage.
Interview date, Process and Venue for Africa Re Young Actuarial Professionals Programme
Selection Criteria;
- Excellent communication and presentation skills, as well as writing and reporting skills.
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Accuracy and keen attention to detail.
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Problem solving ability and strong analytical skills.
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Fast-learner with ability to multitask.
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Open-minded with results-oriented and innovative mindset.
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Very high integrity and good sense of responsibility.
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Be passionate and committed to the development of Africa.
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A self-starter with ability to work under minimum supervision.
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Good interpersonal skills and ability to work effectively with others in a team environment.
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Be willing to live on the African Continent at the Corporation’s Headquarters in Lagos-Nigeria and in any of our operating locations (Abidjan, Casablanca, Cairo, Mauritius, Nairobi, Johannesburg, etc.)
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Be willing to pursue online professional education until the highest of actuarial professional qualification within a reasonable period
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Ability to adapt quickly in a challenging and fast-paced multi-cultural environment
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Be flexible and open to work and embrace digitalization.
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Proficiency in Microsoft Office packages, R, Python, SQL and any other relevant applications / software.
