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Compass Insure: Graduate Programme 2023-2025

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Compass Insure: Graduate Programme 2023-2025

Compass Insure: Graduate Programme 2023-2025 has become available for unemployed graduates in possession of the below qualifications. If interested, kindly check the below requirements. STREAK OF LUCK!

Compass Insure invites unemployed graduates to apply for a 36-month Graduate Programme 2023-2025.

Company: Compass Insure

Job Type: Contract

Location: Johannesburg, Gauteng, South Africa

Closing Date: 31 January 2023

Compass Insure is wholly owned by Hannover Reinsurance Africa Limited, which is a wholly owned subsidiary of Hannover Ruck SE (Germany). Compass Insure enjoys a national scale financial strength rating to AA(ZA), with the Outlook accorded as stable.

Compass Insure has recognised the need to contribute to transformation and the development of Reinsurance skills in the industry. An exciting opportunity has become available where the successful graduate will be placed on a three (3) year fixed term contract to work within the Reinsurance business unit.

Minimum Requirements:

  • African Employment Equity Candidates only;
  • Degree in;-
    • Risk Management,
    • Accounting,
    • Finance,
    • Statistics,
    • Mathematics,
    • Physics,
    • Engineering,
    • Law;
    • Post Graduate qualification in any of the above is preferred but not essential;
  • Good academic results.

Training, Guidance and Support

  • Intense on-the-job training;
  • Computer skills including MS Word, Excel and other company related software;
  • Soft skills such as Time leadership training;
  • Study sponsorship aligned to operational requirements of the business unit (s), applicable after completing 12 months of the contract;
  • Mentor and HR support.

What the successful graduates will do

Assist and provide support to the Reinsurance Manager with:

1. Treaty Insurance

  • Obtain Data for the Reinsurance renewal from the Business Partners/ Insurance Administration System Service Providers, Analyse, interpret and report on the Data;
  • Reinsurance Optimisation – Work with the Finance and Actuarial Units on the optimisation for the annual Treaty Renewal and any new business opportunities to ensure optimal Reinsurance Structures are implemented for the Company and ensuring the optimal use of shareholder funds/Capital;
  • Prepare (in close consultation with Finance and Actuarial Units) and Distribute Reinsurance Renewal Packs to Lead Reinsurer and confirm proposed terms and conditions for the Reinsurance Renewal;
  • Distribute Reinsurance Renewal Packs to Reinsurers participating on the Company Reinsurance Programmes, and any new potential Reinsurers;
  • Address and Resolve Reinsurance Renewal Queries;
  • Finalise Reinsurance Terms and Conditions with Lead Reinsurer;
  • Communicate Lead Reinsurance Terms and Conditions to following market (Reinsurers);
  • Confirm Reinsurance Terms and Conditions with Lead Reinsurer/Reinsurers;
  • Finalise Treaty Wordings with Reinsurers;
  • Issue signed Final Treaties to Reinsurers;
  • Communicate Binder Terms and Conditions to Business Partners on completion of the Annual Reinsurance Renewal (in close consultation/ conjunction with Finance and Legal & Compliance Units).

2. Facultative Reinsurance & Special Acceptances

  • Implement the Special Underwriting Guideline for the Company;
  • Ongoing Liaison Meetings/Communication with Business partners;
  • Facultative Underwriting Committee – Co-ordinate, review and approve all Insurers/Reinsures utilised for Facultative placements and approve/and/or decline all facultative placements above the Treaty Limits of the Business Partners in accordance with the Company Special Underwriting Guideline;
  • Co-ordinate Facultative Reinsurance requests to the Lead Reinsurer for consideration and approval;
  • Co-ordinate Special Acceptance requests to the Lead Reinsurer for consideration and approval;
  • Review all Facultative Reinsurance Reconciliations on a monthly basis and sign off and approve all Facultative Reinsurance payments on a monthly basis.

3. Reinsurance Recoveries

  • Review of outstanding cash recoveries (Cash Calls, XOL recoveries, FAC Recoveries, CAT Recoveries,) on a weekly basis, follow up with relevant parties where necessary;
  • Close co-ordination and collaboration with the Claims Unit.

4. Stakeholder and Treaty Management

  • Ongoing engagements with relevant business partners, the Lead Reinsurer, other reinsurers participating on the Company programmes;
  • Develop a solid understanding of the local and international market.

5. Manage Treaty Endorsements

Other Benefits:

  • 20 days annual leave;
  • 2 days bonus leave in addition to annual leave;
  • Sick and family responsibility leave benefits;
  • 24th and 31st December off if on a week day;
  • Half day birthday leave if on a week day;
  • Within walking distance to the Gautrain Station in Sandton, and across the road from Sandton City;
  • Hybrid working model where the graduate will split their work week between the office and working from home as per operational requirements.

How to Apply for Compass Insure: Graduate Programme 2023-2025


Please submit the required documentation to [email protected] by Tuesday, 31st January 2023, as per the following:

  • Reference – Compass Insure Grad Programme;
  • CV and cover letter;
  • Academic record;
  • Possible reference from lecturer.


Share the opportunity and never pay for any job / internship / learnership / traineeship / in-service training / bursary opportunities whatsoever – it merely takes you to apply for employment not your money.

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