Head: Outwards Reinsurance at Santam Insurance

Purpose of the role:

• The Head of Outwards Reinsurance is responsible for the design, placement, optimisation, and governance of all outwards reinsurance arrangements across Santam Limited’s global insurance and reinsurance portfolio.
• Working closely with the Santam Re & International Chief Executive Officer, Santam Group Chief Risk Officer and Santam Group Chief Underwriting Officer, this role ensures that the reinsurance strategy effectively supports the Santam Group’s capital, volatility, and growth objectives. Maintenance of core relationships with global reinsurers, institutional brokers and internal stakeholders is key to being successful in this role.
• The Head of Outwards Reinsurance leads all aspects of treaty and facultative purchasing, reinsurance analytics, portfolio insight, and regulatory compliance in alignment with the Santam Group’s risk appetite statement and international best practice.
• 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.

What will you do?

Reinsurance Strategy, Structuring, and Placement

• Maintain, optimise and structure the group-wide outwards reinsurance program and ensure alignment with the group’s underwriting, capital, and risk objectives.
• Lead the annual treaty and facultative renewal cycle, including programme design, market engagement, pricing negotiations, and final placement. Collaborate closely with the CEO of Santam Re & International, as well as the group CRO and CUO, respectively.
• Assess and optimise the structure of proportional, non-proportional, and facultative covers based on the needs analysis performed for each division / entity within the group.

Reinsurance Analytics, Modelling, and Portfolio Insight

• Collate and review the reasonableness of actuarial and exposure-modelling work supporting reinsurance purchase decisions (e.g. catastrophe modelling, loss modelling, stochastic simulations).
• Analyse portfolio performance, accumulation trends, loss patterns, and emerging risks to inform reinsurance appetite based on each division’s own risk appetite, while ensuring compliance with the group’s risk appetite statement.
• Interpret internal and external data sources to improve reinsurance optimisation and to develop pricing leverage.

Market Engagement and Relationship Management

• Build and maintain strong relationships with global reinsurers, brokers, and advisory partners.
• Lead market presentations, due-diligence sessions, and reinsurer engagement materials.
• Monitor reinsurance market trends, capacity changes, pricing cycles, and competitor behaviours to anticipate strategic implications. Communicate these insights to key decision-makers within the group to support a culture of continued improvement in decision making.

Operational Execution, Governance, and Compliance

• Ensure end-to-end documentation, contract certainty, and timely execution of reinsurance placements.
• Oversee reinsurance accounting, bordereaux quality, and claims recoveries in partnership with the finance and claims teams, respectively.
• Maintain compliance with all applicable laws and regulations within span of control. This includes ensuring compliance with all group policies which attach to the outwards function.
• Maintain and optimise an environment which fosters industry-leading standards for reinsurance governance and decision-making, including policies, procedures, and internal controls.

Leadership, Stakeholder Management, and Internal Collaboration

• Lead and mentor the reinsurance team, promoting technical excellence and continuous development.
• Identify, initiate and drive actions that support a highly engaged team
• Partner with underwriting, actuarial, finance, financial risk management, and the group risk team on strategy alignment and execution.
• Provide executive-level reporting to group committees, boards, and other interested stakeholders.
• Drive a culture of analytical rigour, transparent communication, and commercial decision-making based on sound data and a clear view of functional and group strategy.

What will make you successful in this role?

Minimum Requirements:

• You have a minimum of more than 5 years  of experience in reinsurance, ideally with practical experience optimising and placing outwards programs for P&C insurers / P&C bancassurers.
• Demonstrated experience negotiating program placements through the renewal cycle, driving towards a positive outcome for the reinsured. These include complex, multi-line portfolios which span across divisions within the Santam Group.
• You have a good understanding of the reinsurance marketplace in South Africa and globally, as well as knowledge of the global reinsurers who offer capacity in our chosen classes and markets. You can translate this knowledge into actionable insights, driving strategic decision making supported by data and analytics. 
• You have good relationships with both institutional brokers and global reinsurers.
• You have excellent communication (written and spoken) as well as presentation skills and are adept at presenting to forums of C-suite executives. You are comfortable leading international market presentations during placement roadshows.
• You have a bachelor’s degree in actuarial science / risk management / insurance / finance or a related quantitative field, backed by the relevant experience necessary to lead one of Africa’s largest P&C reinsurance placements. Actuary / nearly qualified actuary will enjoy a distinct advantage (FIA / FASSA).
• You have strong analytical and problem-solving skills, with the vision to see solutions beyond current system / process capabilities.
• You can adapt, and thrive, in a fast-paced and evolving environment where you will need to roll up your sleeves.
• You are adept at leading and mentoring diverse, high-performing teams and proactively supporting team members (including indirect reports within your structure) who may need guidance to perform at the required level.
• You are open to both local (within South Africa) as well as international travel as required by the business.