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Manager Reinsurance job at NIC General Insurance Ltd

About the Organization

National Insurance Corporation (now NIC Holdings Limited) was established in 1964 as a wholly owned Government parastatal and the leading provider of insurance and financial services in Uganda.

In 2005, NIC was privatized with the continental insurance giant, Industrial and General Insurance Plc (IGI) acquiring majority (60%) stake through its special purpose vehicle, Corporate Holdings Limited.

On 25th March 2010, NIC was listed on the Uganda Securities Exchange becoming the first (and only) Uganda registered insurance company to be listed on the USE.

In 2014, pursuant to the Insurance (Amendment) Act, NIC was restructured and re-branded into and insurance group with a holding company and two virile wholly owned insurance subsidiaries, NIC General Insurance Company Limited and NIC Life Assurance Company Limited.

Job Description

NIC General is a wholly owned subsidiary of NIC Holdings Limited. NIC General was incorporated on


3rd March, 2014 and took over the general insurance businesses of NIC in compliance with the legal
requirement for separation of insurance businesses under the Insurance (Amendment) Act.
NIC General Insurance is looking for an experienced person to take up the position of Manager Reinsurance.

Duties and Responsibilities

  • Perform on reinsurance monthly, quarterly and yearly closing process.

  • Ensure general ledger shows all accounting transactions for given period and reconciliations are conducted.

  • Evaluate and process utmost complicated domestic as well as international reinsurance unspecified treaty accounts.

  • Review profit commissions accounts and adjust retrospective premium.

  • Perform calculation of unjustified premium and audit related treaty provisions following treaty terms.

  • Collaborate with accounts statements rendered by cedant.

  • Recommend to management on implicit and ceded reinsurance account along with policies and processing claims.


  • Ensure to correctly maintain all account complying with agreements terms.

  • Conduct balances recovery on complicated reinsurance accounts through working with reinsurers.

  • Identify key changes in losses incurred and leftover balance loss reserves.

  • Prepare reinsurance analysis reports for management review.

  • Develop financial illustrations for various pooling and captive arrangements.

  • Analyze reinsurance and claim coverage issues in the relevant reinsurance contracts and/or insurance policies and provide analysis and coverage opinion.

  • Drive active pursuit of reinsurance recoveries on delinquent or aging reinsurance recoverable.

  • Communicate well with reinsurers, in person, in writing, or by phone, to continue to develop business relationship and report out on claims.

  • Ensure that appropriate documentation, implementation and communication of established policy, procedures and operating standards is completed for the area of responsibility.

  • Regularly monitors and evaluates activities to identify potential risks and issues of non-compliance.

  • Any other duties assigned by your supervisor.

Qualification, Experiences and Competencies

  • Bachelor’s degree in Business Management, Actuarial science or any other related course.

  • ACII or other Insurance Related Professional Qualification is desirable

  • More than 10 years’ experience in a similar position.

  • Expert knowledge in the field of reinsurance and risk management.

  • Superior analytical and quantitative skills.

  • Strong understanding of global and regional business environments.

  • Ability to coordinate activities among a variety of internal and external constituents.


  • Proactive and action driven

  • Strong Leadership

  • Excellent communication and presentation skills both written and spoken

  • Strong networking and relationship capabilities

  • Excellent influencing and persuasion abilities

  • Good entrepreneurial and commercial thinking

  • We are an equal opportunity organization; both male and female candidates are encouraged to apply.

How to Apply

If you have the aforementioned professional and academic qualifications and you are ready to execute the above mandate, kindly send your resume to the email address below indicating on the subject of your email the job title.
For example: Ref: Application for Manager Reinsurance.
Strictly apply through email: vacancy@nic.co.ug
The application should reach us

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