General Re Corporation, a subsidiary of Berkshire Hathaway Inc., is a holding company for global reinsurance and related operations, with more than 2, 000 employees worldwide. Its direct reinsurance companies conduct business as Gen Re.
Gen Re delivers reinsurance solutions to the Life/Health and Property/Casualty insurance industries. Represented in all major reinsurance markets through a network of more than 40 offices, supported by over 2, 000 employees worldwide, we have earned superior financial strength ratings from each of the major rating agencies.
General Reinsurance, South Africa Branch (a subsidiary of General Reinsurance AG) is offering an opportunity for Head of Business Development for our Life Health Team in Cape Town.
Key Responsibilities
Working with both the Gen Re Managing Directors and the Head of Segment, the emphasis of this role is on the development of our South African and Sub-Saharan African book of business. This is a self-starting, client management role which demands the building of new business with the management of successful relationships, not only with clients but within the organization. The contained, flat structure necessitates considerable cross-functional interaction and cooperation with colleagues to ensure that client needs, and expectations can be met as we grow the South African.
You will open doors and generate good, profitable opportunities in line with strategy. You will naturally interact, impress and be trusted by Senior people at our clients and potential clients. You have strong C-Suite influencing skills and negotiation skills. You thrive in a global matrix structure and love to negotiate complex reinsurance deals.
The role focuses on the acquisition of new clients and leading the strategy of business development activity across the business. Maturity, diligence, sense of purpose and responsibility are key, as this post-holder is one of a very few individuals publicly representing the brand and its quality to the wider world.
The following defines the scope, business acumen and leadership of the position.
Manage and build Client Portfolio
- Manage the financial position of the portfolio of clients to maximize profit
- Lead annual planning (operational and financial) and portfolio reporting cycle
- Drive an understanding of the financial and risk management needs of client portfolio and strategise solutions/products to meet those needs
- Build and leverage C-Suite relationships across the portfolio of clients
- Ensure the required service levels across the portfolio
- Lead the negotiation of treaties and addenda
- Ensure quality of quotes and tenders
- Promote and build the Gen Re brand and profile throughout the market
- Contribute to the development of Gen Re business strategy and lead the development of supporting marketing strategy
- Proactive involvement in industry events
- Identify and develop new business opportunities
- Maintain excellent relationships with reinsurance buyers
- Represent Gen Re in industry forums - be known as an industry expert
- Create and deliver presentations and articles
- Build and leverage relationships across the Segment and other parts of the Group
- to identify, share &/or build business opportunities.
- Lead, coach, mentor and develop team members
- Lead by example to develop an inclusive, result-oriented environment.
- Responsible for the development and implementation of policies, procedures, and guidelines within the Business Development Team
- Responsible for routine projects such as marketing events and seminars.
- Oversee the workflow of the Business Development Team to ensure quality, execution and timeliness of work
- Develop and implement monthly Management reports
Key Challenges &/or Requirements
- The unique challenges of the Head of Business Development include:
- Developing a reputation of 'Thought Leader'
- Developing and maintaining strong internal networks across different time zones
- Defining Gen Re's value proposition and establishing differentiation
- Maintaining positive client relationships in highly competitive market - for both direct writers and reinsurers. Resilience - bouncing back after setback
- Head of Segment; Gen Re Leadership Team; Pricing; Underwriting; Claims; Reserving; Finance; Data Analytics; CRO; Global and teams within the Segment
- Clients - existing and potential, Professional Bodies and Industry Associations, Regulators.
Combined with the nature of the role itself, what is described is a person with the analytical mind and attention to detail with the interpersonal skills, creativity, strength of character and intuition associated with truly exceptional relationship managers. This is a purposeful individual with a strength of character and self-awareness that brings important issues to the fore whilst appreciating the views and contributions of others. It's not only representing a brand in a positive way but also building loyalty and commitment through personal interaction, and confidence in the quality of the follow-up and administration.
You will act as a developer, mentor, and leader in the company and to the organisation.
Knowledge, Skills, Experience and Competencies
Skills and Experience
The essential requirements and underlying capabilities to be effective in this role include:
Essential:
- Proven experience building profitable business
- Collaborative, inclusive leadership
- Reinsurance experience
- Business or Actuarial qualifications
A successful Head of Business Development demonstrates the following behaviours and competencies:
Collaborates - Able to build strong partnerships and work collaboratively with others to meet shared objectives. Promotes a culture of collaboration across boundaries, urges teamwork with other groups, functions, and teams. Introduces initiatives to encourage collaboration and actively breaks down barriers between groups.
Customer Focus - Able to build strong customer relationships and deliver solutions. Creates a sense of urgency throughout the organisation on the importance of designing and delivering solutions.
Drives Results - Consistently achieves results that have clear, positive, and direct impact on business performance. Strong negotiation skills.
Strategic Mindset - See ahead to future possibilities. Leverages Gen Re's key differentiators to and translate these into breakthrough strategies. Helps the organisation respond to change.
Business / Technical Acumen - Understands and can clearly communicate & discuss the technical and business impact of key decisions. Can articulate Gen Re's position and offering.
Plans and Aligns - Skilled at planning and prioritizing work to meet commitment aligned with organisational goals.
Manages complexity - makes sense of complex and sometimes contradictory information to effectively solve problems - able to explain this to others.
Instils trust - able to gain the confidence and trust of others through honest, integrity and authenticity
Courage - skilled at stepping up to address difficult issues, saying what needs to be said with respect and influence.
Communicates effectively - adept at developing and delivering multi-mode communications that convey a clear understanding of the unique needs of different audiences and stakeholders.
Executive presence / market reputation - has a reputation as a thought leader.Skilled in consultative conversations.
Closing Date
December 15, 2023
Our Address
General Reinsurance Africa Ltd.
(Reinsurer licensed to conduct composite insurance business)
2nd Floor, Waterway House North, V&A Waterfront,
Cape Town, 8002 (South Africa)
Preference will be given, but not limited to, candidates from designated groups in terms of the Employment Equity Act and our employment equity policy.
