Chief Underwriting Officer

Old Mutual is inviting seasoned insurance professionals to lead the Specialty technical underwriting function at their Johannesburg offices. This senior-level appointment is designed for a leader who can balance high-level technical precision with commercial pragmatism, ensuring the organisation maintains sustainable, risk-adjusted returns while navigating the complexities of the African insurance market.

About the role

As a key figure in the Specialty division, you will be responsible for defining the underwriting philosophy, mandates, and class guidelines that govern the business. This is not a purely administrative role; it is a position of significant influence. You will provide objective technical challenge to business-line leaders, ensuring that commercial growth never compromises the underlying integrity of the risk portfolio.

You will act as the custodian of underwriting quality, ensuring that pricing methodologies, portfolio performance, and technical interventions align with both group standards and regulatory requirements. Collaboration is central to this function, as you will work closely with actuarial teams, risk committees, and the Group Chief Underwriting Officer to ensure that the business’s risk appetite is effectively translated into tangible, profitable outcomes.

Your mandate encompasses the full lifecycle of technical underwriting, from policy governance to the implementation of modern, data-driven tools. Key responsibilities include:

• **Strategy and Governance:** Develop and maintain underwriting standards, authority frameworks, and referral processes. Ensure all operations comply with South African insurance regulations and group-wide policies.
• **Portfolio Oversight:** Monitor pricing adequacy, loss costs, and large-loss performance. Lead technical portfolio reviews and mandate remediation where performance benchmarks are not met.
• **Reinsurance Interface:** Represent Specialty underwriting requirements during reinsurance design and renewal discussions. Provide critical exposure data to support effective risk retention.
• **Innovation and Data:** Champion the use of predictive analytics and automation to enhance underwriting precision. Set technical requirements for product rules and sponsor initiatives that leverage AI and data quality to improve decision-making.
• **Leadership:** Manage technical resources, oversee the operating budget, and mentor staff. You will be expected to build a community of practice that nurtures the next generation of technical underwriting talent.

What they're looking for

Old Mutual is seeking a candidate with a track record of excellence in the non-life insurance sector. You must possess the professional maturity to challenge senior stakeholders constructively and the technical depth to manage complex, specialist risks.

• **Experience:** At least 12 years of extensive non-life underwriting experience, with a minimum of 5 years in a leadership role overseeing technical teams.
• **Expertise:** Deep knowledge of reinsurance economics, exposure management, and the practical application of South African insurance law.
• **Qualifications:** A relevant degree (such as Actuarial Science, Finance, Risk, or Engineering) is required, with an NQF Level 9 (Master’s degree) qualification being essential for this level of leadership.
• **Soft Skills:** Strong financial literacy, superior communication skills, and the ability to navigate ambiguous environments while maintaining integrity and institutional trust.

This is a premier career opportunity within one of South Africa’s most established financial services groups. In the local market, roles at this executive or "Chief" level typically command highly competitive packages, reflecting the deep responsibility for capital allocation and regulatory compliance. Candidates in this tier often follow a trajectory toward Group Executive roles or specialised consulting within the broader insurance industry. Note that this appointment will be made in accordance with Old Mutual’s Employment Equity Plan, underscoring the company’s commitment to transformation and diverse leadership.

Qualifications and leadership capabilities

Relevant degree in insurance, actuarial science, finance, engineering, risk or a related discipline; advanced insurance designations or professional accreditation advantageous.

Able to challenge senior commercial stakeholders constructively; sound judgement, financial literacy, integrity and effective communication.

Success measures

Underwriting quality, technical pricing and risk-selection adequacy.

Effective delegated-authority governance, portfolio reviews and timely remediation.

Technical capability development and data-supported underwriting decisions.

Specific objectives, grading, delegations and reporting arrangements are subject to the approved OMI governance and organisational processes.

 

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Skills

Accounting, Budget Management, Change Management, Data Compilation, Executing Plans, Financial Acumen, Legal Practices, Management Reporting, Numerical Aptitude, Policies & Procedures, Presenting Solutions, Professional Presentation, Risk Management, Servant Leadership, Underwriting Management

Competencies

Balances Stakeholders

Builds Effective Teams

Business Insight

Communicates Effectively

Ensures Accountability

Financial Acumen

Instills Trust

Manages Ambiguity

Education

NQF Level 9 – Masters

Closing Date

19 November 2026 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

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