Thulani Malungana, Reinsurance Technical Accountant
Reinsurance Technical Accountant
Current Experience:
Reinsurance Technical Accountant - Asia, Europe and Africa at Maksure Risk Solutions Apr 2024 - Present (1 Yr 10 mos)
Past Experience:
Reinsurance Claims Specialist at Maksure Risk Solutions May 2022 - Apr 2024 (2 Yrs)
Senior Technical Accountant at Maksure Risk Solutions Mar 2020 - Apr 2022 2 Yrs 2 mos)
Junior Technical Accountant & Claims Reinsurance at Maksure Risk Solutions May 2019 - Aug 2021 (2 Yrs 4 mos)
Reinsurance Controller at Santam Insurance Nov 2021 - Apr 2022 · (6 mos)
Junior (Technical) Accountant-Trainee (Reinsurance) at GIC Re South Africa Ltd. Jan 2019 - May 2019 · (5 mos)
Junior Accountant (Finance) -Trainee at GIC Re South Africa Ltd. Sep 2018 - Jan 2019 · (5 mos)
Trainee Accountant (Public Practice) at Letaba Accountants Apr 2018 - Sep 2018 · (6 mos)
Education:
Postgraduate Diploma in Practice Management
Bachelor of Accounting
Country of Residence:
South Africa
LinkedIn Profile:
He leads reinsurance finance across Asia, Europe, and Africa, but wakes up at 5am to stay one step ahead. Meet Thulani Malungana, Head of Reinsurance Technical Accounting, and a prime example of the kind of leadership most firms overlook.
His story shows what happens when compliance meets global insight… and when accountants stop playing small.
Read this if you’ve ever felt like your work isn’t being recognised, and need a reminder of how far accounting can take you.
What time do you usually wake up on weekends?
05:00 AM
Are you an early bird or a night owl?
Early Bird
How do you spend the first hour of your day?
I use the first hour of my morning to set a focused, intentional tone for the day. I usually start by reviewing key financial or operational updates, especially those coming in from Asia or Europe, then move on to priority emails and align my to-do list with any urgent regulatory or reporting deadlines.
What sparked your interest in accounting and finance?
My interest in accounting and finance grew from a natural curiosity about how businesses create value and manage risk. I was drawn to the clarity and structure of financial reporting, as it clearly reflects an organisation’s health and direction. As my career progressed, I developed a strong interest in reinsurance accounting due to its complexity and global reach. I enjoy the way precise financial reporting supports strategic decision-making, especially across regions such as Asia, Europe, and Africa.
Can you share some key career milestones or defining moments?
One of the earliest defining moments in my career was qualifying as a Technical Accountant and moving into the complex world of reinsurance. That’s where I discovered my passion for turning technical data into insights that support strategic business decisions. A major milestone was my appointment as Head: Reinsurance Technical Accounting for Asia, Europe, and Africa. Another standout moment was visiting Lloyd’s of London, the global hub of reinsurance. Being in the underwriting room and engaging with market leaders highlighted the global impact of our work and deepened my appreciation for both the legacy and innovation within the industry.
What is your role within your company’s finance department?
As Head: Reinsurance Technical Accountant for Asia, Europe, and Africa, I oversee the technical accounting function within the finance department. My role focuses on ensuring the accuracy and integrity of reinsurance financial data across multiple regions, maintaining regulatory compliance, and providing detailed technical reporting to support strategic decision-making.
I also take on a strong leadership role by mentoring junior team members, standardising technical processes, and aligning underwriting, claims, and finance teams. This ensures that all treaty and facultative transactions are correctly accounted for, reconciled, and reported in line with internal policies and external regulatory requirements.
At its core, my role bridges day-to-day operations and financial insight, helping the organisation stay controlled, compliant, and responsive in a complex, highly regulated environment.
How do you contribute to the overall financial strategy of the business?
In my role as Head: Reinsurance Technical Accountant for Asia, Europe, and Africa, I support the business’s financial strategy by ensuring reinsurance data is accurate, timely, and aligned with overall objectives.
I provide meaningful insights into loss ratios, treaty performance, and cash flow trends across key markets, which helps leadership make informed decisions around pricing, capital allocation, and risk appetite. I also play an important role in maintaining regulatory compliance, reducing both financial and reputational risk in a complex, cross-border environment.
In addition, I focus on building efficiency and scale by standardising technical accounting processes, improving reporting systems, and mentoring junior team members. This ensures the finance function remains compliant while also being forward-looking and well positioned to support future growth.
What is one of the biggest challenges you’ve faced in your role? How did you overcome it?
One of the biggest challenges I’ve faced was maintaining consistent and timely compliance amid frequently changing regulatory requirements. Updates often come with tight deadlines and require quick adjustments to accounting practices and reporting processes.
I addressed this by putting a structured regulatory tracking and response system in place, allowing us to monitor changes proactively rather than react at the last minute. I also introduced regular communication and training sessions to ensure the team clearly understood new requirements and could implement them effectively. This approach reduced compliance risk, improved audit outcomes, and strengthened the credibility of our financial reporting.
Share your strategies for staying balanced, especially during busy periods
During busy periods, I stay balanced by prioritising what truly matters and delegating effectively to empower my team. I build in short breaks to reset and maintain energy throughout the day. I’m also intentional about setting boundaries between work and personal time, which helps me recharge. Regular reflection allows me to adjust my approach when needed and avoid burnout, even during high-pressure periods.
What do you enjoy outside of work? Any hobbies or activities that help you recharge?
Outside of work, I enjoy long drives and spending quality time with family and friends, which helps me unwind and recharge.
Do you mentor or support other team members in the finance department? How do you help develop the skills of others?
Yes, I actively mentor and support team members within the finance department. I focus on developing others through regular guidance, sharing technical expertise, and encouraging open communication. I provide one-on-one coaching and targeted training to build both skills and confidence, and I create opportunities for team members to take on more challenging work that stretches their capabilities. By fostering a supportive environment, I help individuals grow professionally and contribute more effectively to the team and the wider organisation.
What advice would you give to someone aspiring to work in a finance department?
For anyone looking to build a career in a finance department, I’d recommend starting with a solid grounding in accounting principles and financial analysis. Attention to detail and strong problem-solving skills are essential, as accuracy and insight underpin good decision-making. Practical knowledge of financial systems and an understanding of regulatory requirements also make a real difference.
Beyond the technical side, clear communication and the ability to collaborate across teams are critical, especially when explaining complex financial information to non-financial stakeholders. Finally, staying curious and committed to continuous learning is key, as the finance environment is always evolving with new regulations and technologies.
“To whom much is given, much is expected. ”
Share a leadership lesson or a piece of advice that’s been valuable to you in your career.
One important leadership lesson I’ve learned is to lead with curiosity instead of certainty. By asking questions, understanding different perspectives, and staying open to new ideas, you foster collaboration and innovation. This approach also creates a psychologically safe environment where team members feel valued and empowered to contribute their best. Leading this way has helped me build high-performing teams and make more informed decisions throughout my career.
What’s something surprising about you that isn’t in your professional bio? A hobby, interest, or fun fact?
Something surprising about me is that I’m very talkative and naturally friendly.
If you could have any superpower to help you in your job, what would it be? Predicting financial trends? Master multitasking?
If I could have any superpower for my job, it would be master multitasking
What’s your go-to strategy for staying productive during long workdays?
To stay productive during long workdays, I break the day into manageable segments with clear, prioritized goals. I work in short, focused intervals with brief breaks to maintain energy and concentration. I also make sure to stay hydrated and take short moments to stretch or step away to refresh my mind. To maintain focus, I limit distractions by checking emails and messages at set times, allowing me to dedicate my attention to high-impact tasks.
If you could relive one day from your career, which day would it be and why? What made that day special?
If I could relive one day in my career, it would be the day I visited Lloyd’s of London. That experience was unforgettable, giving me a firsthand view of the core of the global reinsurance market. Being in the underwriting room, interacting with industry leaders, and witnessing both the legacy and innovation up close strengthened my appreciation for the impact of our work. It was inspiring and reinforced my dedication to excellence and leadership in the field.
Accountants like Thulani don’t wait for permission to lead.
They build, mentor, adapt, and rise, even when regulatory chaos hits or cross-border rules tighten overnight.
If you’re tired of being boxed into admin work, ignored for promotions, or undercharging for strategic thinking…
Join CIBA and we’ll show you how to turn your technical skills into authority, recognition, and higher income.
Profile sponsored by the Chartered Institute for Business Accountants
Not yet a professional designated accountant?
CIBA is the professional body for all accountants.
We offer designations for each stage of your finance career:
➥ Bookkeeper
➥ Financial Administrator
➥ Financial Accountant
➥ Financial Manager
➥ Chief Financial Officer
➥ Accountant-In-Practice
Become a CIBA Member
Your first step towards a professional designation
