Underwriting & Pricing Manager

Job Purpose

The Life Underwriting and Pricing Manager is responsible for managing underwriting operations, technical pricing, and risk assessment across Walaa’s primary life insurance (individual life, group life, credit life policies) and inward reinsurance (group and credit life) business lines. The role ensures prudent risk selection, technically sound and commercially competitive pricing, strategic portfolio alignment, and optimal profitability, while continuously enhancing underwriting and pricing practices, tools, and performance monitoring.

• Lead and oversee underwriting decisions across group life, credit life, individual life insurance lines, and inward reinsurance.
• Ensure consistent application of underwriting guidelines and prudent risk assessment.
• Evaluate complex and high-risk cases, providing decisions and second opinions where necessary.
• Maintain and update underwriting authority limits and ensure appropriate delegation within the team.
• Collaborate with actuarial, pricing, claims, product, and sales teams for alignment and continuous improvement.
• Ensure underwriting decisions are consistent with technical pricing assumptions, underwriting philosophy, and the company’s risk appetite.

• Own and manage the technical pricing framework for group life, credit life, and inward reinsurance schemes (QS treaties and other arrangements).
• Develop, maintain, and enhance pricing models and rating tools in coordination with the actuarial team, including:
• Risk premium calculations and technical rate tables.
• Loadings for expenses, commissions, and reinsurance costs.
• Target margins consistent with the company’s profitability, capital, and risk appetite.
• Perform quote-level profitability assessments for major tenders and key accounts, including expected loss ratio, combined ratio, and margin analyses.
• Provide pricing recommendations and clear rationale for non-standard terms, discounts, and special conditions to management and sales.
• Lead or support regular experience investigations (mortality, morbidity, disability, lapse, expenses) for group and credit life portfolios and inward treaties, and adjust pricing bases accordingly.
• Ensure pricing alignment with reinsurance treaties, retrocession structures, and capital requirements.
• Work with Finance, Actuarial, and Risk to ensure consistency of pricing with IFRS 17, RBC and IA regulatory expectations (where applicable).
• Support the development of pricing governance (approvals, documentation, audit trail) and ensure consistency across channels and segments.

• Manage the risk assessment and pricing support of quota-share (QS) treaties for inward group and credit life.
• Lead treaty technical discussions, including expected loss ratios, margins, profit commission structures, and experience-based adjustments.
• Negotiate and execute treaties with cedants and brokers in Saudi Arabia and GCC, in coordination with reinsurance, actuarial, and finance functions.
• Ensure alignment with company risk appetite, profitability goals, and reinsurance strategies.
• Monitor treaty performance and recommend adjustments in pricing, terms, or underwriting approach based on experience.

• Drive development and quality assurance of dashboards and analytics to support portfolio and pricing oversight.
• Monitor and analyze portfolio performance by segment (group, credit, individual, inward reinsurance), including loss ratios, persistency, and expense metrics.
• Monitor actual performance versus pricing assumptions and profitability targets, highlighting deviations and corrective actions.
• Prepare monthly portfolio reports, including performance insights, trends, and actionable recommendations.
• Coordinate with the Risk Department on monthly risk reporting and insights.
• Oversee and provide input into weekly sales reporting and trend monitoring, with focus on profitability and technical adequacy of quotes.

• Coach and develop underwriters on technical, regulatory, pricing, and…