Actuarial Analyst Senior Officer at Prime Insurance Ltd: (Deadline 10 March 2023)


Actuarial Analyst Senior Officer at Prime Insurance Ltd: (Deadline 10 March 2023)



Prime Insurance Ltd is an insurance company, established in 1995 by Rwandan investors under a license by the National Bank of Rfromnda (BNR).

We are seeking a dynamic and motivated Actuarial Analyst Senior Officer to join our growing team. Under the supervision of Chief Executive Officer and the Board Committee, you will be responsible for:

  • Implementation of actuarial processes in Prime Insurance Ltd with a focus on computing IBNR reserves;
  • Analysing financial risk using mathematical, statistical, and financial modelling to dmodelingliability;
  • Pricing of products, reserving for contingencies, complying with regulations set up by the regulator;
  • Support the portfolio management of the business by providing pricing and underwriting analytics for all lines of business. This involves a mixture of project work and ad-hoc analytical reports.
  • Responsible for pricing of newly developed products that. This  ensure a win-win situation for both the clients and the company.
  • Closely monitor claims experience of the existing products to identify the unprofitable segments and suggest corrective action to be taken regarding the pricing policy.
  • Identify patterns from raw data which can helpthatove the rating factors used for underwriting the policy.
  • Develop pricing models for complex products whose data availability is scares.
  • Calculate prudent estimates for reserves to balance the interests of various stakeholders such as regulator (for regulators solvency of the company) and shareholders (to give them maximum profits).
  • Perform quarterly reserving calculations for all lines of business using actuarial techniques and produce quarterly reserving factsheets.
  • Conduct actuarial claims investigations to assess the adequacy of case reserves and provide input in the implementation of the company’s reserving guidelines and policy.
  • Participate the year-end audit and statutory actuarial valuation process by ensuring that all requested data items and information are submitted to the external statutory actuary according to agreed deadlines.
  • Develop a good understanding of the company’s balance sheet based on which he advises on the number of claims that the company can bear and what part of it goes to the reinsurers and on what conditions.
  • Assist in the management with asset liability management to provide inputs on strategic asset allocation.
  • An Actuary also plays a key role in setting up the Reinsurance Program of a company.
  • Advise senior management of Investment matters as an assured profit earning channel in today’s era where it is very difficult to have underwriting gains due to competitiveness of the industry.
  • Degree holder in Math’s, statistics, or Actuarial Science;
  • Being an active member of a professional actuarial body;
  • Strong analytical skills and sound understanding of actuarial techniques for general insurance business;
  • A minimum of three (3) years’ of working experience appropriate to the nature, scale and complexity of the (re) insurer’s business;
  • Excellent communication skills, written and verbal;
  • Computer Literacy;
  • Ability to work under tight deadlines without compromising quality;
  • Demonstrate good organization skills;
  • Maturity & Confidentiality;
  • Integrity;
  • High degree of accuracy and attention to details;
  • Being fluent in English and Kinyarwanda is mandatory, knowledge of French is an added advantage.
  • Application letter addressed to Chief Executive Officer.
  • Recent Curriculum Vitae (CV) with proven work Experience.
  • Notarized education certificates.
  • A copy of National Identification.
  • Two professional referees.

Please send your application on

The deadline for submitting applications is March 10th, 2023 at 5pm local time.

NB:  Only shortlisted candidates will be contacted.

Chief Executive Officer

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