NEM INSURANCE PLC started insurances business in Nigeria in 1948 through the agency of Edward Turner & Co. It became a Nigerian branch of NEM General Insurance Association Limited of London in 1965. Incorporated in 1970 as a Nigerian company in compliance with the Companies Decree of 1968, the company became quoted on the Nigerian Stock Exchange in 1989 following the privatisation by the Federal Government of Nigeria. The company, which has contributed immensely towards the growth of Insurance Industry in Nigeria, was into Life and Non- Life business. Following the recapitalization exercise, the company merged with Vigilant Insurance Company Ltd to transact all classes of General Insurance. The company has expanded its operations into the West African Sub region, with the successful registration and commencement of business of its subsidiary, NEM INSURANCE (GHANA) LIMITED in May, 2009.
Role Description
- This role is responsible for the actuarial management of our General Insurance Business. S/he will be in charge of in-house actuarial services as well as ensuring that external actuarial services received by the company are accurate and meet the needs of the company.
Responsibilities
- Actuarial Valuation & Enterprise Risk Management
- Product Pricing & Development
- Asset Liability Management
- Business Reporting and Communication with stakeholders
- Reinsurance Management
- Financial Forecasting & Reserving
- Regulatory & Compliance Management
Qualifications
- Bachelor’s degree in actuarial science, Mathematics, Statistics, Finance, or a related field.
- Professional certification - Associate, IFoA/SOA
- Minimum of 7 years of actuarial work experience within a similar business
- In-depth knowledge of IFRS 17, NAICOM regulations, solvency requirements, and risk management frameworks.
- Strong technical expertise in actuarial modelling, data analysis, and reinsurance strategies.
- Proficiency in Excel, VBA, Python, SQL, and Power BI.
Method of Application
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