The posting
Prime Life Insurance Ltd is seeking a Chief Executive Officer to drive profitable growth, ensure technical and financial soundness, strengthen customer value, advance business transformation, and contribute to an integrated financial services strategy.
The responsibilities and required candidate profile are outlined below.
1. Position Title
Chief Executive Officer – Prime Life Insurance Ltd
2. Location
Kigali, Rwanda, with travel within Rwanda and internationally as required.
3. Purpose of the Position
Lead the overall performance, profitable growth and transformation of Prime Life Insurance Ltd, ensuring sustainable development of the life insurance portfolio, disciplined actuarial and financial management, strong solvency and liquidity, regulatory compliance, excellent customer outcomes, and full alignment with the Company's strategy, governance standards and operating model.
4. Key Responsibilities
The Chief Executive Officer is accountable for the management, development, performance, compliance and representation of Prime Life Insurance Ltd, within the authority delegated by the Board of Directors and the relevant corporate governance bodies.
4.1. Governance and Strategic Leadership
- Define, recommend and implement Prime Life's strategy in line with the Company's mandate and strategic priorities.
- Translate the approved business plan, annual budget and strategic objectives into clear operational plans, performance indicators and accountability measures.
- Keep the Board appropriately informed of the Company's financial position, performance, material risks, market developments, opportunities and corrective actions.
- Ensure effective governance, clear decision-making authority, reliable management information, and timely escalation of matters requiring Board or shareholder attention.
- Implement Board-approved policies and uphold high standards of integrity, business conduct, risk culture and accountability.
4.2. Financial, Actuarial and Technical Performance
- Deliver profitable growth across life insurance products while maintaining capital adequacy, solvency, liquidity and resilience.
- Ensure sound pricing, valuation, technical provisions and profitability monitoring across life insurance portfolios.
- Monitor mortality, persistency, claims, surrenders, expenses and policyholder liabilities.
- Manage asset-liability matching, investment governance and cash-flow planning to meet long-term obligations.
- Oversee reinsurance arrangements that support underwriting capacity, capital protection and earnings stability.
- Use performance dashboards and early-warning indicators to monitor portfolio performance and guide corrective action.
4.3. Commercial Development and Portfolio Growth
- Grow and diversify the life insurance portfolio across individual and group business, including protection, credit life, savings, retirement and other market-relevant solutions, subject to regulatory approval and technical viability.
- Develop a balanced distribution strategy spanning bancassurance, microfinance networks, brokers, agents, corporate partnerships, affinity schemes, employer groups and digital channels.
- Strengthen customer acquisition, onboarding, premium collection, cross-selling, retention and renewal management throughout the policy lifecycle.
- Build partnerships that improve access to suitable and affordable life insurance while maintaining underwriting discipline, customer value and sustainable profitability.
- Strengthen Prime Life's market positioning, brand visibility and customer trust in Rwanda and beyond.
4.4. Operations, Risk and Compliance
- Ensure effective policies, processes and controls for underwriting, medical and financial assessment, policy issuance and administration, premium collection, claims, surrenders, maturities, complaints and reinsurance.
- Ensure compliance with applicable Rwandan laws, regulations and supervisory requirements, including reporting obligations to the competent authorities and the Central Bank.
- Maintain an effective enterprise risk management and internal control framework covering insurance, actuarial, investment, liquidity, credit, market, operational, technology, cyber, conduct and compliance risks.
- Safeguard the independence and effectiveness of control functions, including risk management, compliance, internal audit and actuarial oversight.
- Ensure fair customer treatment, transparent product information, appropriate sales practices, effective complaints handling, data protection and fraud prevention.
- Promote operational resilience, business continuity, reliable data quality, and timely regulatory, financial and management reporting.
4.5. Leadership, Representation and Institutional Relations
- Lead the Executive Committee and wider organization, fostering a performance-oriented, collaborative and ethical culture.
- Attract, develop and retain the technical, actuarial, commercial, digital, finance, risk and operational capabilities required of a modern life insurer.
- Represent Prime Life before regulators, public authorities, professional bodies, reinsurers, banks, microfinance institutions, brokers, corporate clients, technology partners and other stakeholders.
- Serve as a principal spokesperson for the Company and ensure consistent communication with employees, customers, the Board and shareholders.
- Promote continuous improvement, disciplined execution, customer centricity and responsible innovation.
4.6. FINAFRICA Group Integration and Synergies
Support FINAFRICA Group integration by contributing to relevant synergies, shared initiatives, distribution opportunities and alignment with Group standards, while ensuring Prime Life's strategy and operations remain fully compliant with applicable local laws, regulatory requirements and directives issued by the competent authorities.
5. Required Profile
- Master's degree or equivalent in insurance, actuarial science, finance, economics, business administration, management, law or a related field.
- Strong knowledge of life insurance economics, products, distribution and operations, including underwriting, pricing, actuarial valuation, claims, reinsurance, investments and asset-liability management.
- Sound understanding of governance, solvency, risk management, consumer protection and regulatory requirements applicable to an insurance company in Rwanda.
- Demonstrated ability to lead profitable growth, business transformation, technology enablement and customer-experience improvement in a regulated environment.
- A professional qualification in actuarial science, insurance, finance or management is an advantage.
- Fluency in English is required; working knowledge of French and/or Kinyarwanda is an advantage.
6. Experience
- At least 10 years of relevant experience in insurance or regulated financial services, including significant exposure to life insurance, bancassurance, or actuarial and technical insurance operations.
- Proven experience in a senior executive role within an insurance business.
- Demonstrated track record in business development, technical and financial performance, product and distribution strategy, risk management, regulatory engagement and organizational transformation.
- Experience in an African market and in managing multiple distribution partnerships—particularly banks, microfinance institutions, brokers, agents or digital channels—would be highly valued.
- Experience working effectively with Boards, shareholders, Group functions, regulators and external partners.
7. Required Behavioural Competencies
- Strategic leadership, sound judgment and a strong sense of accountability.
- Results orientation, commercial acumen and disciplined execution, balanced with prudent risk management and long-term policyholder interests.
- Ability to translate strategic priorities into measurable plans, clear ownership and effective follow-through.
- Excellent communication, negotiation, influencing and stakeholder-management skills.
- Ability to lead in a multicultural, competitive, evolving and highly regulated environment.
- Integrity, ethical courage, resilience, agility, an entrepreneurial mindset and a strong customer-service culture.
8. Professional Relationships
- Reports to the Board of Directors of Prime Life Insurance Ltd and operates in accordance with applicable governance arrangements, delegated authority and shareholder requirements.
- Works closely with the Board and its Committees, Prime Life's Executive Committee, Company stakeholders—including, but not limited to, the responsible actuarial and control functions—external auditors, regulatory and supervisory authorities, reinsurers, banks, microfinance institutions, brokers, agents, corporate clients, technology providers and other strategic partners.
9. Nature of Contract
Open-ended employment contract, subject to applicable Rwandan law, regulatory fit-and-proper requirements, necessary approvals, and the terms and conditions applicable to the position.
