New Job Opportunity At UAP Insurance Tanzania As Intermediate Actuarial Specialist (OMAO) -2022

 UAP Insurance Tanzania is a member of the UAP Old Mutual Group in East Africa, which is a subsidiary of Old Mutual Limited (OML). UAP Insurance has been in operations in Tanzania since 2013 following the acquisition of the majority stake in Century Insurance Company.

We are proud of our contribution in the growth of the Insurance Industry and our commitment is to enable our customers achieve their financial goals through the provision of innovative insurance solutions.

UAP Insurance Tanzania contributes to the communities that we operate in through CSR activities in education, health and social welfare and participates in industry initiatives aimed at improving financial literacy and inclusiveness in the country.
The Company operates a large footprint in the country with offices in all major cities and now wishes to recruit a high caliber individual to fill the following position below…

Intermediate Actuarial Specialist (OMAO)
Position: Intermediate Actuarial Specialist (OMAO)
 Dar Es Salaam
time type Full time
job requisition id JR-18154
Your time is now to be your exceptional best at Old Mutual!

Job Description
The incumbent will be responsible for:- proactively carrying out technical actuarial work, often using complex systems and packages. The incumbent has responsibility for specific deliveries and is individually accountable for achieving results through own efforts

Provide the following services to UAP Insurance Tanzania (UAPTZ) by working through the Group Actuarial Team:

  • Technical Actuarial Support: Conduct and/or review internal actuarial liability valuations for UAPTZ, analysis of profitability/surplus
  • Aggregation of Results: Collate, review and interpret actuarial results for UAP Insurance Tanzania
  • Undertake and review: Pricing, profitability, experience analysis, and other relevant actuarial investigations for relevant insurance BUs to inform business decisions.
  • Product/Services Development, Pricing and Management: provide technical input in product development exercises, product lifecycle management and monitoring, existing products assessments and reviews, new products pricing and review of premium rates for existing products for the company
  • Risk Management Support: assist BUs/Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate and formulating appropriate risk mitigation measures for UAPTZ and having an enterprise wide view
  • Solvency and Capital management: Carry out solvency computation for UAPTZ on the current regulatory capital regime and proposed risk-based capital basis including solvency stress tests.
  • Investment Strategy Support: assist in developing/formulating appropriate investment strategies and/or review of, and monitoring of investment strategies for the company
  • Strategy and Business Planning Support: assist with business planning financial projections, strategy development and review, market and competitor analysis, internal business/financial analysis and make proposals on the company’s medium to long term strategic plans
  • Experience Monitoring: Conduct claims experience analysis, expense investigations, persistency/business retention studies, and other relevant actuarial investigations for the company to inform business decisions and to assist in actuarial work
  • Reinsurance and Underwriting Support:
  • Develop/assist with review of appropriateness, adequacy and cost efficiency of reinsurance and underwriting arrangements in place and/or formulating the same for the company
  • Collating treaty reinsurance statistics and participating in the treaty renewal negotiation
  • Recovering excess of loss claims from reinsurance on timely basis as the loss are admitted
  • Monthly review of the premium and claims registers for accuracy and completeness of the premiums ceded and claims recoveries
  • Preparing proportional treaty statements for reinsurance on quarterly basis
  • Preparing claim triangulation reports
  • Documenting cash calls for settlement by reinsurers
  • Preparing profit commission and excess of loss adjustment statements
  • Documentation: Preparation of the required actuarial and other reports to the management, Boards and regulators especially Annual Valuation and Financial Condition Reports and Quarterly Solvency Statements to the regulator, Board and Management


  • Bachelor Of Accounting Sciences: Actuarial Science (Required)

Closing Date 21 January 2022



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