Owen Munthali ACII - Chartered Insurer

Experience

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  Diamond General Insurance Limited

  Apr 2012 - May 2015

  Head - Reinsurance and Direct Business

  Oversaw reinsurance program in line with company reinsurance treaty limits. Managed proportional and non-proportional claim recoveries in line with placements made. Grew business through co-insurance, direct business and facultative reinsurance. Prepared and reconciled all reinsurance balances, returns, and statements of accounts. Prepared management reports and reinsurance renewal statistics.  Established Reinsurance Department from ground up and grew company’s business portfolio. Reduced reinsurance expenses to acceptable levels and ensured long-term growth. Increased turnaround of recoveries from receivables to acceptable levels. Trained and mentored team members to understand the principles and applications of reinsurance. Show less

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  Prima Reinsurance Plc

  Jun 2015 - Jun 2017

  Underwriting Manager

  Sourced new business and followed up on renewals in order to grow business and meet budget expectations. Ensured business was entered to the system and followed up on appropriate documentation. Ensured correct documentation for all policies and ensured quarterly statements were made to reinsurers on time. Prepared quotes for insurance companies and brokers. Ensured quarterly statements were made to reinsurers on time. Managed accounts receivable with Finance Department to collect overdue payments. Achieved underwriting profits for two straight years through expert leadership. Processed and paid claims on time and monitored claim progression. Established Life Reinsurance Section, contributing 3% to the total annual revenue. Constructed cost benefit reinsurance programmes for insurance start-ups. Achieved acceptable loss ratios due to prudent underwriting. Show less

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  Prima Reinsurance Plc

  Mar 2018 - Jul 2021

  Chief Operations Officer

  Manage all daily operations and collaborate with Managing Director to achieve aggressive growth and profitability goals. Implement company’s strategic plan and oversee marketing functions in collaboration with Managing Director. Ensure adherence to current policies, processes, procedures and systems. Provide leadership to the team and encourage maximum performance and dedication. Performed several times as an acting Managing Director when needed. Implemented risk management activities to reduce problems and anticipate issues.  Drafted and implemented ERM Framework and Risk Appetite Statement to promote risk mitigation. Expanded business footprint from 17 to 20 African States to ensure long-term growth. Designed appropriate reinsurance programmes for insurance companies. Designed cost benefit and effective retrocession programme for the company Show less

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  ZEP-RE (PTA Reinsurance Company)

  Jul 2021 - now

  Country Manager - Zambia & Malawi